Overview

1b - main Objectives

The Chief Risk Officer (CRO) is a Senior Management Function (SMF4) holder, accountable to the Board and the Board Risk Committee for leading the Banks Risk Management Framework and ensuring that both prudential and non-prudential risks are identified, assessed, managed, and reported in line with FCA and PRA expectations.This senior leadership role carries overall accountability for delivering an enterprise-wide view of risk, ensuring that robust policies, procedures, and systems are in place to identify, measure, monitor, and control all material risks—financial and non-financial—while maintaining compliance with all applicable regulatory requirements.As Chair of the Executive Risk Committee (ERC), the CRO oversees the Banks exposures against the Board-approved Risk Appetite, reporting on utilisation, limit breaches, tolerances, and key risk indicators. The CRO is independent of the first line of defense and works in close partnership with the CEO, Board, and regulators to safeguard the safety and soundness of the Bank. The CRO reports functionally to the CEO and maintains an independent reporting line to the Chair of the Board Risk Committee (BRC), safeguarding independence and ensuring direct assurance to the Board.Under the SMCR, the CRO is directly accountable for ensuring the Risk Management Framework operates effectively across the three lines of defence, embedding a strong risk culture, and ensuring risks are appropriately identified, escalated, challenged, and remediated to protect the Bank''s safety, soundness, and regulatory compliance.Key Responsibilities

Risk Governance and FrameworkPrudential Risk OversightNon-Prudential Risk OversightBoard and Regulatory EngagementLeadership and AccountabilityRisk Strategy and Change ManagementRisk Assessment and ChallengeRegulatory Accountability (SMF4)

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