Guidance: Raising the Bar

Principles-based guidance for board risk committees and risk functions in the UK financial services sector

The Risk Coalition’s Raising the Bar was formally launched on 4 December 2019 at an event hosted by the Financial Reporting Council. This followed a three month consultation period which closed on 20 September 2019. Seventy responses were received and respondents’ feedback was reviewed and analysed, and the draft guidance was updated and finalised.

You can find out more about the background to Raising the Bar by clicking Why this guidance?

Notwithstanding the finalisation of the guidance, we continue to welcome feedback on all aspects of our work, including suggestions for future Risk Coalition projects. This can be sent to feedback@riskcoalition.org.uk.

“We welcome the Risk Coalition’s initiative to raise standards in risk oversight in UK financial services.  Their approach and guidance complements the personal accountability we regard as an important regulatory objective.”
Financial Conduct Authority

“We welcome the initiative and particularly support your emphasis on improving standards of accountability of the Board and its committees on risk. This guidance is consistent with the aims of the UK Corporate Governance Code.”
Financial Reporting Council

Access the guidance

The guidance is separated into Part A for risk oversight committees and Part B for risk functions. Whilst each stands alone, collectively they cover a total of 54 key issues.

To download the full guidance, and receive occasional updates from the Risk Coalition, please complete the following form. By downloading this guidance, you consent to the Risk Coalition sharing your contact details with selected partners and sponsors of the Risk Coalition.