Corporate governance report (continued) PPS Integrated Report 2021 Corporate governance report | 108 PPS HOLDINGS TRUST AUDIT COMMITTEE (TAC) AND GROUP AUDIT COMMITTEE (GAC) The composition, roles, responsibilities and attendance at meetings of the TAC and GAC are set out in the Audit Committees’ Report included in this Integrated Report. GROUP RISK COMMITTEE (GRC) MEMBERS Dr J A van der Merwe MB ChB, MBL, DBL, PED. (IMD) (Chairman) Mr C Erasmus B Sc, FIA, FASSA Dr D P du Plessis B Sc (QS), MBA, DBA, CD(SA) Mr E J S Franklin B Sc Physics and Applied Mathematics, B Sc Elec Eng, M Sc Elec Eng (Manchester), MBA Mr I J Smit B Com (Hons), FASSA The role of the GRC is to assist the PPS Group boards in discharging their fiduciary duties regarding risk management within the PPS Enterprise Risk Management and Governance Frameworks, which include: ~Risk policy and the implementation of risk management; ~Risk governance structures; ~Risk infrastructure, processes and culture; ~The setting of risk appetite and tolerances; ~Risk assessment, profiling, mitigation and reporting; ~Assurance and stakeholder disclosures. TheGRC is comprised of four independent non-executive PPS Insurance directors, who are risk management specialists, and the Group Chief Executive. The GRC is chaired by an independent non-executive director. The GRC is scheduled to meet at least four times a year. There is overlap in the non-executive membership of the GRC, the GAC and the Group Actuarial Committee. The internal auditors and Heads of the Compliance and Risk Functions are present at each meeting, when reports are tabled outlining the progress in terms of the risk management framework, internal audit plans and an overview of the PPS Group’s risk profile. The GRC is satisfied that the risk assessments, responses and interventions for the PPS Group are effective. The GRC is responsible for the statutory compliance monitoring functions and makes reports to the GAC and Group Social and Ethics Committee on risk matters pertaining to those committees. The GRC considers and recommends the PPS Group Solvency Assessment and Management ORSA Report for approval by the PPS Insurance Board. The GRC also receives reports by the Risk and Audit Committees of the PPS Insurance subsidiaries which have such committees. The GRC established the Group Technology Steering Committee (GTSC) as a sub-committee of the GRC to, inter alia, assist and enable the GRC to discharge its responsibilities in relation to the management of Information Technology (IT) delivery and risks. There is overlap in the non-executive membership of the GRC and the GTSC. Further particulars of the GTSC are provided in this Integrated Report. The GRC meetings held during the year and the attendance thereat were as follows: Group Risk Committee 2 Mar 2021 24 May 2021 2 Sep 2021 3 Nov 2021 Dr J A van der Merwe (Chairman) P P P P Dr D P Du Plessis P P P P Mr C Erasmus P P P P Mr E J S Franklin P P P P Mr I J Smit P P P P GROUP TECHNOLOGY STEERING COMMITTEE (GTSC) MEMBERS Mr E J S Franklin (Chairman) B Sc Physics and Applied Mathematics, B Sc Elec Eng, M Sc Elec Eng (Manchester), MBA Dr J A van der Merwe MB ChB, MBL, DBL, PED. (IMD) Mr L de Villiers BA Economics and Statistics, Nat. Dip. Electronic Data Processing, GITI – Information Technology & Telecommunications (INSEAD), DIS – Information Technology (Harvard) Mr A Nel B Com (Computer Science, Management Accountancy) Mr N J Battersby (Group Chief Operating Officer) B Sc Mech Eng, B Com (Hons), CFP, MBA, AMP (Harvard) Mr J P Loubser (Group Chief Information Officer) N Dip Electrical Engineering, B Tech Electrical Engineering
RkJQdWJsaXNoZXIy NzI4MzY4