The Risk Committee assists the Supervisory Board and the Audit Committee in supervising the activities of, and advising the Executive Board with respect to the company's enterprise risk management framework.
The Risk Committee reviews the company's risk exposure as it relates to capital, earnings and market consistent value at risk and compliance with company risk policies covering all risks of the company as further defined in its charter. The committee is available as a consultative body for the Executive Board with regard to the risk management.
The committee meets quarterly or as often as it determines to be necessary. The committee decides whether and, if so, when the chairman and/or any other member of the Executive Board and/or Management Board and/or the Group Chief Risk Officer should attend its meetings.
The committee may request any other officer or employee of the company or the company's outside counsel or external auditor to attend a meeting of the committee or to meet with any members of, or consultants to, the committee.
The Risk Committee presently consists of Irving Bailey (chairman), Kees Storm, Ben van der Veer and Dirk Verbeek (see their biographies).