Principle Risks and Uncertainties

General Information

Principle Risks and Uncertainties

The following section summarises the principal risks and uncertainties that impact both the Company and the market in which we operate. The Board is responsible for assessing the principal risks and these are monitored on a regular basis by the Risk Committee under the Chairmanship of the Group Head of Risk.

Against each of the principal risks, consideration is given to the Company’s exposure and the extent to which the risk can be mitigated. There have been no material changes in the principal risks to the Company during the year. However, political uncertainties caused by the continuing Brexit negotiations and the minority government in Westminster have, in the opinion of the Risk Committee, increased the likelihood and impact of regulatory, legislative and tax changes to the financial services sector and the economy.

The Board considers risk within four categories: – Conduct, Credit, Market and Operational. The Company’s overall risk management programme seeks to minimise potential adverse effects on the Company’s financial performance and its reputation arising from these risk areas.

The Key financial and non financial risks identified by the Board and the measures taken to mitigate their impact are:-

Annual Report

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