The Boards of Directors of First Foundation Inc. and First Foundation Bank have established a joint Directors' Risk Committee (DRC). This new committee is tasked with overseeing the company's risk management functions and programs, including the establishment and maintenance of an enterprise risk management (ERM) Program. The charter for the DRC was approved on April 29, 2025.
The DRC's principal roles include overseeing the design and implementation of risk management functions to identify, assess, manage, monitor, and report on significant risks. It will also monitor the ongoing effectiveness of the ERM Program, including the review and approval of the Risk Appetite Statement, which sets risk appetites and metrics for various risk categories such as credit, capital, interest rate, liquidity, and operations.
This initiative underscores First Foundation's commitment to robust risk governance and control. The committee will assist the Board and its other committees in overseeing specific risk-related issues and will serve as a resource to management, ensuring that the company's risk profile is managed effectively and is commensurate with its size and complexity.
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