Impact of Risk Management Committee Characteristics on Financial Performance: Evidence from Nigerian Listed Deposit Money Banks

This study examines the impact of risk management committee characteristics on financial performance with focus on Nigerian listed deposit money banks. Ex-post facto research design was adopted for the study. The population of the study consist of fourteen (14) listed deposit money banks in Nigeria as at 2024.In view of this, all the fourteen (14) deposit money banks listed on Nigerian Exchange Group were selected to represents the sample size for this study using purposive sampling technique. Secondary data was extracted from annual reports and audited accounts of fourteen listed deposit money banks for ten years (2015-2024). Data were analyzed using ordinary least square regression estimation technique. The findings revealed that risk committee independence, risk committee size and risk committee gender diversity has positive and significant effect on financial performance of listed deposit money banks in Nigeria. The study concludes that risk management committee attributes has positively and significantly effect on financial performance of listed deposit money banks in Nigeria. Therefore, the study recommends that the risk committee of board of directors of deposit money banks in Nigeria should strive to increase performance by maintaining a reasonable size of risk management committee so as to hasten decision making in areas affecting the financial performance.