Prudential Regulation Authority Rulebook

5.1

A ring-fenced body must ensure that its risk committee includes a person performing the Chair of Risk Committee function.

5.2

A ring-fenced body must ensure that the person performing the Chair of Risk Committee function does not chair any committee whose functions include oversight of the risk function of any other member of the ring-fenced body’s group, other than a ring-fenced affiliate.

5.3

A ring-fenced body must ensure that:

1. (1) its risk management function has sufficient resources to perform its role, including the identification, monitoring and management of risk;
2. (2) those resources are at all times identifiable as performing the risk management function for the ring-fenced body; and
3. (3) its risk management function supports the ability of the ring-fenced body to comply with 3.1.

5.4

A ring-fenced body must ensure that a person performing the Chief Risk function for the ring-fenced body is not also a person performing the Chief Risk function or function equivalent to the Chief Risk function (howsoever designated) for any other member of the ring-fenced body’s group or for the group, other than for a ring-fenced affiliate or for the sub-consolidation group.