Corporate governance statement

Risk management
and internal control

Corporate governance statement

Risk management
and internal control

The British Business Bank plc is committed to ensuring the best standards of corporate governance and is supported in this by the Board of Directors and Board Committees.

The Board has overall accountability and responsibility for the management of risk within the British Business Bank. 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. The British Business Bank is not an FCA/PRA regulated entity, although one of its subsidiaries representing less than 1% of the portfolio, Capital for Enterprise Fund Management, is regulated by the FCA for controlling but not holding client money. The rest of the British Business Bank is not subject to regulatory supervision and the British Business Bank does not hold regulatory capital. The Bank is however subject to other applicable laws and regulations and aspires to meet standards of good practice. We have policies and procedures in place to ensure compliance with applicable laws and regulations, including Anti Money Laundering, Data Protection and Freedom of Information, and aspire to follow best practice where appropriate and applicable.

To ensure robust and effective decision making within the Bank, it has approved terms of reference for each executive level investment committee, for each subsidiary which makes investment decisions.

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