Just Group plc | Annual Report and Accounts 2024
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GROUP RISK AND COMPLIANCE COMMITTEE REPORT
ROLE The Group Risk and Compliance Committee (the “Committee”) is responsible for assisting the Board in discharging its responsibility to maintain effective systems of risk management, compliance and internal control throughout the Group. The Committee plays an important role in providing effective oversight and challenge on the continued appropriateness and effectiveness of the risk management and internal control framework and risk strategy, and of the principal and emerging risks inherent in the business. The Committee also oversees regulatory compliance matters. The Committee is responsible for considering the above matters from the perspectives of the Company and each of the Group’s life companies, Just Retirement Limited (“JRL”) and Partnership Life Assurance Company Limited (“PLACL”), as well as from the perspective of any other Group entity as appropriate. The Committee works closely with other committees, in particular the Group, JRL and PLACL Audit Committees, and the JRL and PLACL Investment Committees. The cross membership between Board Committees promotes a good understanding of issues and efficient communication. The full responsibilities of the Committee are set out in the terms of reference, which are reviewed annually and can be found at www.justgroupplc.co.uk/about-us/governance. cOmmittee membership The Committee currently comprises three Non-Executive Directors. Kalpana Shah was Chair of the Committee throughout 2024 and until 1 March 2025 when she resigned as a Director of the Company. I am fulfilling the role of Committee Chair on an interim basis while the Nomination and Governance Committee leads the search for a new independent Non-Executive Director with relevant skills and capabilities to serve as Chair of this Committee. An update on this appointment will be published on our website once the vacancy has been filled. The Chair of the JRL and PLACL Boards, who is not a member of the Committee, was invited to attend the meetings and contributed, at the invitation of the Chair, to the challenge and debate. There were standing invitations for the Group Chief Executive Officer, Group Chief Financial Officer, Group Chief Risk Officer and Director of Group Internal Audit to attend the meetings during the year. Other Group executives and senior managers were invited to present on their areas of responsibility as required.
The Group Risk and Compliance Committee continued to focus on the key risks impacting financial and operational resilience during 2024 to ensure the business is well placed to achieve its growth ambitions.”
JOHN HASTINGS-BASS Interim Chair, Group Risk and Compliance Committee
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