Risk governance

The British Business Bank Risk and Compliance function is based upon a ‘three lines of defence’ model The key principles of this model, as demonstrated by the diagram below, are:

  • The Board has overall accountability and responsibility for the management of risk within the British Business Bank
  • The Board delegates specific risk management roles and responsibilities to the Board Risk Committee, the Audit Committee and Chief Executive Officer (CEO) and the CRO
  • The CEO is supported in delivery of these responsibilities through direct reports from the senior team
  • The CRO is a member of the senior team and is also supported by the Risk and Compliance function in the delivery of their responsibilities.

Our Risk Management Framework has been designed to align to the size, scale and complexity of the British Business Bank and has been benchmarked against other financial services institutions

 Three lines of defence model