Strategic Report
Financial Statements
Governance
105
REVIEW OF THE YEAR Eight scheduled meetings were convened during 2024. Four of the meetings focused on regular risk and compliance reports and two meetings were to allow time to review a range of risk and compliance matters and certain key risk documents. Two meetings were held on a nested basis with the JRL and PLACL Investment Committees (“Nested Meetings”). The purpose of convening Nested Meetings in 2024 was to review investment activities to ensure they were within risk appetite, and to consider and challenge any proposed changes to the investment risk frameworks. The Committee Chair regularly engages with the Group Chief Risk Officer to ensure that all significant areas of risk are considered, and that risk management is embedded within the business. The Committee follows an annual rolling forward agenda with various standing items considered throughout the year as well as matters requiring the Committee’s attention. A report from the Group Chief Risk Officer is considered at each scheduled standalone meeting, which provides his high level view of Just’s risk position and calls out the most pertinent risk developments for the Committee’s awareness. Risk reports, compliance oversight reports, and conduct and customer risk dashboards are received on a quarterly basis or more frequently if required. Various annual reports are considered by the Committee including the internal model validation report, annual money laundering reporting officer’s report and an annual report from the Group Data Protection Officer. The Committee also approves the compliance monitoring plan annually and any proposed changes during the course of the year. The Committee considers the quality of papers and effectiveness of its discussions as a standing item at the end of each meeting, and assesses its compliance with its terms of reference annually. The effectiveness of the Committee was reviewed as part of the annual Board performance review and a separate review was carried out, at the request of the former Committee Chair, to consider opportunities to enhance the operation of the Committee in future. Recommendations for enhancements were agreed by the Committee and the Board following a discussion by the Nomination and Governance Committee. After considering the findings from the reviews, the Board concluded that the Committee continues to be effective.
Composition
MEMBERS John Hastings-Bass
Interim Chair
Jim Brown Mary Phibbs
Independent Non-Executive Director
Senior Independent Director
Kalpana Shah resigned as a Director and Chair of the Committee on 1 March 2025. Committee meeting attendance can be found on P83 . Biographies of Committee members can be found on P72-74 .
GENDER DIVERSITY
05 March 2025 Male
2 1
Female
31 December 2024 Male
2 2
Female
ETHNIC DIVERSITY
05 March 2025 Asian
1 0 0 3 0 0 0 0 3 0
Black Mixed White Other
31 December 2024 Asian
Black Mixed White Other
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