Quilter plc has a comprehensive governance and risk management framework in place across all of its businesses. This includes a set of statements, measures and tolerances which define the level of risk exposure which the businesses are willing to accept, together with regular monitoring and reporting.
The Quilter board and that of each legal entity within the Quilter businesses are responsible for the oversight of business performance, governance and control and satisfactory discharge of fiduciary and other applicable legal and regulatory duties.
Each board is also responsible for ensuring that its business unit operates in accordance with the group operating model and underlying policies, practices and procedures. The board of Quilter and each legal entity has a responsibility to oversee the adequacy of risk management.
The Quilter Board Risk Committee reviews management’s recommendations on risk and specifically the structure and implementation of the enterprise risk framework including:
- the quality and effectiveness of the internal controls
- risk appetite
- risk profile
- capital management processes
- risk management framework
- measurement of risk
- capital allocation
- regulatory risk
- business planning
- scenario analysis and stress testing
- risk strategy
- risk policies and standards
- annual and interim reports and accounts for each risk category
- risk governance framework.