Minutes | Meeting of the Risk Committee of the Board (BRC) | 21 May 2024

BRC Attendees: Harald Alvestrand, Maarten Botterman, Becky Burr, James Galvin (Chair), Wes Hardaker, and Patricio Poblete

BRC Member Apology: Chris Chapman

Other Board Member Attendee: Katrina Sataki

ICANN organization Attendees: Xavier Calvez (SVP, Planning & Chief Financial Officer), Franco Carrasco (Board Operations Manager), Irina Douzadjian (Risk Management and Internal Audit Sr. Director), and Elizabeth Le (Associate General Counsel).

The following is a summary of discussions, actions taken and actions identified:

1. Continuation of the Review of the Risk Appetite Statement (RAS) – The Committee continued discussing refining and clarifying the definitions of different types of risk categories so that they map to ICANN's missions and operations as discussed at the last BRC meeting. The Committee also discussed the Board's role in setting ICANN's risk appetite and ICANN org's role in managing risks to meet these levels, including regular in-depth review of specific categories by the BRC. The Committee asked staff to update the RAS to reflect the discussion and bring the RAS back to the Committee for further consideration. The Committee continued its previous discussion regarding the development of a process document that outlines the sequence of steps for the BRC in which it will review the risk appetite and sets it as part of the Committee's oversight. The Committee also discussed its focus for upcoming meetings, including continuing the refinement of the RAS.
   • Actions:
     • ICANN org to provide the Committee with updated version of RAS.
     • ICANN org to develop a process document that outlines the sequence of steps for the BRC in which it will review the risk appetite statement as part of the Committee's oversight.