The Board Risk Committee
The Board Risk Committee (BRIC) has been established by the Board for the purpose of assisting it in fulfilling its oversight responsibilities concerning management and control of the risks, risk frameworks, controls and processes associated with the Group’s operations, including credit, market, liquidity, business, life and operational risk.
The duties of BRIC include reviewing the development of the Group’s overall risk management and control framework, as well as the Group’s risk profile and key risk issues.
In addition, BRIC reviews and make recommendations regarding the Group’s risk appetite and limits for market and liquidity risks.
Further BRIC reviews resolutions made by lending entities concerning credit/limit above certain amounts as well as strategic credit policy matters and the development of the credit portfolio.
Members of the Board Risk Committee are Kari Stadigh (Chairman), Lars G Nordström, and Tom Knutzen, as from AGM 2011.
Generally the Head of Group Risk Management and, when deemed important and to the extent possible, the CEO are present at meetings with the right to participate in discussions, but not in decisions.
Updated: August 2011
