Governance
Our full Board is actively involved in the oversight of our ESG program and practices, with specific oversight over “Social” and “Governance” matters delegated to the Compensation and Human Capital Management Committee and Governance Committee, respectively. The Board is updated on ESG matters, including environmental/climate matters, on at least a quarterly basis, complemented by more extensive annual education sessions focused on current and emerging ESG topics.
Oversight of ESG Program
Executive Team Role in Managing ESG
As a financial services organization, risk management is a critical part of our business. Our Enterprise Risk Management vision is to remain one of the housing industry’s leading risk management organizations by providing solutions that effectively identify, assess and profitably manage risks across the entire mortgage life-cycle.
Our risk appetite is driven by our business strategy, which is established by executive management and overseen by Radian’s Board of Directors. Based on our risk appetite, management then determines our risk tolerances.
Board Composition
The Board considers diversity in a broad sense to mean differences of race, ethnicity, national origin, gender and age, as well as a director’s tenure with Radian and background, education, professional experience and skills. When considering candidates for nomination as new directors, the Governance Committee ensures that the pool of candidates it evaluates includes qualified persons who reflect diverse backgrounds, including underrepresented areas of race, ethnicity and gender.
11
Board Members
27%
Female
27%
Ethnically Diverse
91%
of the Board is independent and all Directors are elected annually
"Our commitment to conducting our business ethically, according to the highest standards of integrity and in compliance with the law, makes us successful. Our Code of Conduct and Ethics is designed to help us meet our obligations, act with respect and ethical integrity in the workplace, and maintain our reputation for integrity in the marketplace."
Ted Hoffman, Senior Executive Vice President, General Counsel & Corporate Secretary and Co-Leader of the ESG Committee
Ethical Conduct
At Radian, our commitment to conducting our business ethically, according to the highest standards of integrity and in compliance with the law, makes us successful.
Code of Conduct and Ethics
Our Code of Conduct and Ethics (or Code) is designed to help us meet our obligations, act with respect and ethical integrity in the workplace, and maintain our reputation for integrity in the marketplace. The Code helps us do the right thing and make good decisions, even in complicated situations where the appropriate course of action may not be clear. It also helps us uphold our commitments to our stakeholders in our business dealings, including our commitments to customers, investors, vendors, regulators and the communities in which we do business.
Our Code
Our Code applies to everyone who acts on behalf of Radian, including all regular full-time and part-time employees, all temporary and contract workers and the members of our Board. The Code is certified annually by all of Radian’s full-time and part-time employees, members of our Board, temporary and contract workers.
Code of Conduct Training
All employees and, subject to limited exemptions, our contractors are required to complete Code of Conduct training annually. A complete copy of our Code of Conduct and Ethics can be found within the Corporate Governance section of our website. Other related policies that support the Code of Conduct and Ethics include:
- Acceptable Use Policy
- Antitrust Policy
- Conflicts of Interest Policy
- Confidentiality and Corporate Disclosure Policy
- Fraud Policy
- Improper Payments Policy
- Insider Trading Policy
- Social Media Policy
- Workplace Conduct Policy
Code in Action
Maintaining strong and transparent relationships with our vendors is essential. When we work with our vendors, we honor one of our core values: Partner to Win. We are committed to partnering with vendors and suppliers who uphold themselves to Radian’s strong ethical standards and business practices. To support this focus, we developed a Supplier Attestation and Expectations document, which is provided to vendors and suppliers. This document defines Radian’s expectations for supplier conduct and interaction across our operations. For additional information on our policies, including bribery and kickbacks, improper payments, please refer to the Corporate Governance section of our website.
"Radian embraces its information security responsibilities through a culture of awareness and an advanced suite of controls. We maintain a mature portfolio of security tools and services that are effective, measured, automated, and reduce risk for our business and our customers."
Lucas Burke, Vice President, Information Security Compliance and Assurance
Privacy and Information Security
Radian leverages best-in-class cyber and information security practices to defend against cybersecurity incidents and to reduce cyber-risk. We have an Information Security Program that is dedicated to protecting our corporate data as well as data entrusted to us by customers and partners. We use the National Institute of Standards and Technology Cybersecurity Framework (the "NIST CSF"), as the framework to benchmark and manage our cybersecurity-related risk.
Data Privacy and Protection
At the core of our program is a defense-in-depth strategy, which utilizes multiple layers of security controls to protect data and solutions. Our pillars include - secure-design; proactive prevention; continuous monitoring; robust vulnerability management; and secure software development lifecycle management. Using a blend of industry-recognized evaluation tools to assess risk-exposure both publicly and internally, Radian has real-time knowledge of where systems, applications, and data may persist in a vulnerable state and takes proactive steps to mitigate any such findings.
Our Information Security Program
Our commitment to growing and maintaining our Information Security Program extends across all business lines. We have an Information Security Committee comprised of company executives, cross-functional Incident Response teams, and strong governance mechanisms designed to ensure compliance with our security policies and protocols. Radian's Chief Information Security Officer reports on cyber-risks regularly to the CEO, Senior Executives, and the Board of Directors.
Cybersecurity Awareness
Our Cybersecurity Awareness Program includes regular training for all employees, which reflects and expands upon the principles set forth in these policies and educates employees on how to defend against current threats and protect confidential information. Radian also performs monthly phishing testing of all employees to reinforce the importance of this threat and promote continual awareness. In 2022, Radian was top-ranked among our peers in cybersecurity risk rating scores.
Furthermore, the company's Code of Conduct and Confidentiality and Corporate Disclosure Policy address confidential information of third parties, which includes nonpublic personal information (NPI), in accordance with applicable federal and state data privacy laws.
For more information, please see our Privacy Policy.
