Minutes | Meeting of the Risk Committee of the Board (BRC) | 25 March 2024

BRC Attendees: Maarten Botterman, Becky Burr, Chris Chapman, and James Galvin (Chair)

BRC Member Apologies: Harald Alvestrand, Wes Hardaker, and Patricio Poblete

Other Board Member Attendee: Katrina Sataki

ICANN organization Attendees: Xavier Calvez (SVP, Planning & Chief Financial Officer), Aaron Jimenez (Board Operations Specialist), Elizabeth Le (Associate General Counsel), and Amy Stathos (Deputy General Counsel)

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

1. Review of the Risk Appetite Statement – The Committee considered proposed updates to the Risk Appetite Statement (RAS) based on additional information provided by ICANN org requested by the Committee. The Committee discussed providing clarity on internal and external risk categories and suggested providing more precise definition for each category in the RAS. The Committee noted that both the internal and external RAS need to considered. The Committee discussed the process for overseeing the RAS, including when changes to the RAS need to be escalated to the Board for consideration. To this end, the Committee discussed developing a process document that outlines the sequence of steps for the BRC in which it will review the RAS as part of the Committee's oversight. Following discussion, the Committee agreed to revisit the proposed updates once it receives additional information from ICANN org on the definition for each category of RAS.
   • Actions:
     • ICANN org to update the RAS to reflect the Committee's discussion.
     • 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.