Page 62 - Demo

Risk Management
navigating challenges with prudence
the Bank has a strong risk management framework in place
to identify, mitigate and monitor material risks across all its functions, directed by the Risk management committee of the Board. The Bank has an adequately staffed risk management team led by the Chief Risk Officer (CRO), to implement the directions of the Board. there are dedicated teams established within the Bank to assess and monitor credit risks, operational risks, market and aLm risks and information security risks.
The team is mainly at the Bank’s corporate office but also has a presence in each of the regional offices, primarily to aid in cascading the operational risk framework at a granular level. The hallmark of the Bank’s Risk Management function
is its independence from business sourcing units with the convergence only at the Board level.
The Risk Management Committee of Board (RMCB) fulfils its roles and duties through various management level risk committees. Risk-specific management level committees are also constituted such as Credit Risk Management Committee (CRMC), Operational Risk Management Committee (ORMC) and Asset Liability and
Market Risk Committee (ALCO). These committees are entrusted with the task to identify, measure, mitigate and monitor various risks.
The Bank’s risk management framework is based on a clear understanding of its key material risks, disciplined risk assessment and measurement procedures,
and continuous monitoring.
the policies and procedures established for this purpose,
are continuously benchmarked with international best practices. The Bank has an oversight on
all the risks through regular monitoring of Key Risk Indicators (KRI) and benchmarks against each type of risk.
6 6 0 0 | | A A n n n n u uA A l l R R e e p p o o R R t
t
2
20
01
19
9
-
-2
20
0