Corporate Governance

The Risk Committee supports the Board in overseeing the Company’s risk management strategy and policies and monitoring their effective implementation. The Committee reviews the Group’s risk exposures and the effectiveness of the risk management system, including the Company’s ability to maintain risk within acceptable levels. It also considers risks that may affect business continuity and reports its findings and recommendations to the Board.

Key Responsibilities

The Risk Committee’s responsibilities include:

• developing and reviewing the Company’s risk management strategy and comprehensive policies, and monitoring their implementation
• determining and maintaining an acceptable level of risk for the Company and ensuring that risk exposures remain within approved limits
• overseeing the risk management system and assessing the effectiveness of risk controls and mechanisms, including identifying areas of inadequacy
• assessing risks that may threaten the continuity of the Company’s operations and reviewing the feasibility of business continuity arrangements
• preparing reports to the Board on the Company’s risk exposures, together with recommended measures to manage such risks
• ensuring that adequate resources and systems are available for effective risk management
• verifying the independence of risk management personnel from activities that may expose the Company to risk and supporting risk awareness across the organization
• reviewing risk management matters raised by the Audit Committee that may affect the Company’s risk profile or risk management effectiveness

Mr. Raied Bin Ali Alseif – Committee Member

Mr. Raied Bin Ali Al Seif is a financial and banking expert with over 25 years of extensive experience in accounting and banking. He has held senior executive leadership positions in prestigious companies and financial institutions, and has a proven track record of serving as Chairman and as a member of boards and committees of various prominent organizations. Mr. Raied holds a bachelor’s degree in Accounting from King Saud University, Saudi Arabia. He has also successfully completed numerous international professional training programs that have further enhanced his expertise.

Mrs. Vanessa Fisk – Committee Member

Vanessa Fisk is a full time Independent Non-Executive, and currently sits on the Boards of ABC International Bank plc, UK; Almarai Company, KSA; Banque Saudi Fransi, KSA; is the Special Advisor to the Al Omran family KSA, and an Independent Supervisory Board member of the family office, Narmo Capital, and most recently she has joined the Board of TPL REIT Management Co Ltd, Pakistan. Vanessa focuses on companies which have a strong innovation and/ or transformation agenda, with her current portfolio spanning both traditional and new digital enterprises. Prior to pursuing a Non-Executive career, Vanessa spent over 20 years in a wide variety of Senior Executive Director positions across multiple geographies. During 18 years at Barclays Bank PLC, Vanessa undertook roles of Chief Operating Officer and Chief Risk Officer for the Middle East; Director of Strategy and Transformation at Gerrard Investment Management Ltd; Chief Risk Officer for the Corporate Bank and Head of the Regional UK Leveraged Finance businesses. More recently Vanessa spent five years as Wholesale Banking Managing Director and Chief Operating Officer for Standard Chartered Middle East, North Africa and Pakistan. Vanessa holds a Bachelor of Arts Honors in Accountancy and Finance from Huddersfield University, UK, a post graduate degree in Leadership Studies from Exeter University, UK, and following her successful tenure at Standard Chartered, completed the International Executive Program in Global Corporate Governance at INSEAD Business School, Fontainebleau, Paris. For the last three years, Vanessa has also been a visiting guest speaker on the INSEAD Global Executive MBA Program.

Mr. Omar Al Huthlul – Committee Member

Mr. Omar Alhuthlul holds the position of Senior Vice President – Risk Management at SALIC Company and brings over 16 years of experience in the field of risk management. Throughout his career, he has held leadership positions in prominent institutions across the banking and investment sectors, gaining a diverse range of expertise through his work with both local and international organizations. Mr. Omar began his professional career in the industrial sector with Al-Yamama Company and other firms, before transitioning to the banking sector through Banque Saudi Fransi, and later moving to the secondary market by joining the Saudi Real Estate Refinance Company (SRC). He currently serves as Chairman of the Audit Committee at Continental Farmers Group in Ukraine, Chairman of the Audit and Risk Committee at G3 Terminal Vancouver in Canada, and a Member of the Audit Committee at G3 Canada. Mr. Omar holds a Bachelor of Science degree and a Diploma in Accounting from King Abdulaziz University, Saudi Arabia.