Page 54 - GTBANK GAMBIA ANNUAL REPORT 2021

responsible for monitoring compliance with the risk out these functions. Internal Audit undertakes both regular
management policies and procedures, and for reviewing and ad-hoc reviews of risk management controls and
the adequacy of the risk management framework in procedures, the results of which are reported to the Audit
relation to risks faced by the Bank. The Audit Committee Committee.
is assisted by the Internal Audit department, in carrying

The Risk Management Organogram of the Bank is as follows:

The Risk Committees at the board and management approves all credit exposures in excess of the Managing
levels are responsible for reviewing and recommending Director’s limit as approved by the Board.
risk management policies, procedures and profiles The Asset & Liability Management Committee establishes
including risk philosophy, risk appetite and risk tolerance the Bank’s standards and policies covering the various
of the Bank. The oversight functions cut across all risk components of Market Risk. These include issues on
areas. The committee monitors the Bank’s plans and Interest Rate Risk, Liquidity Risk, Investment Risk and
progress towards meeting regulatory Risk-Based Trading Risk. It ensures that the authority delegated by
Supervision requirements and migration to Basel II the Board and Management Risk Committees with regard
compliance as well as the overall Regulatory and to Market Risk is exercised, and that Market Risk
Economic Capital Adequacy. The Bank’s Board of exposures are monitored and managed. Furthermore, the
Directors has delegated responsibility for the Committee limits and monitors the potential impact of
management of credit risk to the Board specific pre-defined market movements on the
Credit Committee. The Board Credit Committee considers comprehensive income of the Bank through stress tests
and approves all lending exposures, including treasury and simulations. The Credit Risk Management Bank is
investment exposures, as well as insider-related credits in responsible for identifying, controlling, monitoring and
excess of limits assigned to the Management Credit reporting credit risk related issues. The Bank also serves
Committee by the Board. Management Credit Committee as the secretariat for the Management Credit Committee.
formulates credit policies in consultation with business Credit risk is the most critical risk for the Bank as credit
units, covering credit assessment, risk grading and exposures, arising from lending activities account for the
reporting, collateral, regulatory and statutory major portion of the Bank’s assets and source of its
requirements. The committee also assesses and revenue. Thus, the Bank ensures that credit risk related
Annual Report 2021

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