Barclays Risk Management System Recommendations

Abstract

Good risk management capability is the core competitiveness of commercial banks, and commercial banks can enhance their core competitiveness by building up their risk management mechanism. As the largest commercial bank in the UK, Barclays In constructing Barclays' own risk system, the authors drew on the strengths of Citibank, HSBC and Standard Chartered, namely the business units, the risk and compliance department and the audit department as the front, middle and back offices of the risk defence, with a certain degree of independence and centralisation in the business units. Based on the strengths of the above banks, we have designed a risk management system, focusing on recommendations to accelerate the development and application of risk management techniques and systems, consolidate assurance mechanisms for corporate governance, promote the effective discharge of risk management responsibilities by the Board of Directors, strengthen the supervisory capacity of the Supervisory Board and improve the internal audit mechanism as a complement to the risk management system.