FWD Group Holdings Limited (01828) has published the Terms of Reference for its Board-level Risk Committee, outlining a detailed governance structure aimed at reinforcing the enterprise risk management (ERM) framework across the Group.

The Risk Committee, established by Board resolution on 19 February 2022, is authorised to: • Oversee the adequacy and effectiveness of the ERM framework and monitor compliance with the Group’s Risk Appetite. • Review the identification, measurement, monitoring and management of material risks, including environmental, social and governance (ESG) factors, and ensure appropriate risk-quantification methodologies. • Coordinate closely with the Group’s Asset Liability Management Committee (ALMCO) and Compliance & Operational Risk Committee (CORC), which must escalate significant risk issues without delay. • Advise the Board on key risk policies, validate stress-testing results, and monitor deviations from approved Risk Appetite levels.

Composition and independence safeguards are emphasised: the Committee must comprise at least three non-executive directors, with a majority being independent and at least one possessing recent, relevant risk-management experience. The chairman must also sit on the Compensation Committee to ensure that remuneration structures reflect prudent risk-taking.

The Committee is empowered to obtain any risk information from directors or management, engage external advisers at the Company’s expense, and form subcommittees when necessary. It will meet at least quarterly, maintain full and detailed minutes, and report regularly to the Board.

Direct reporting lines are established for the Group Chief Risk Officer and Group Chief Compliance Officer to the Committee chairman, reinforcing independent oversight. Through these measures, FWD seeks to embed a strong risk culture and enhance transparency in its risk-management processes.