Page 19 - SABN AR 2021

SARB Group Risk Management Framework
Heads of Department and Managing Directors Responsible for departmental strategic, operational and project risk management
Risk Management
and Compliance
Department
Facilitates and coordinates integrated risk management in the SARB Group, and reporting thereon to risk oversight committees
Risk Management Committee
Oversees the full
spectrum of risk management in the SARB Group on behalf of the Governor’s Executive Committee
Board Risk and Ethics Committee (BREC) Reviews the status and effectiveness
of risk management in the SARB Group, on behalf of the Board
SARB Group Risk Management Policy
Structured risk assessments
Strategic risk, policy risk, operational risk, reputational risk, project risk
Coordinated risk management
Specialised cross-cutting risks, transversal risks, insurance management
Continuous risk management
Financial risk management, risk incident management, monitoring action plan implementation, day-to-day risk management activities, key risk indicators, scenario analysis, monitoring and assessment of external risk
Risk Management and Compliance Department
Provides centralised governance, risk management and compliance support services to all departments
Risk Management and Compliance Coordinators
Coordinate the implementation of the risk management and compliance processes in each department
Risk management methodologies and software
SUPPORT RISK UNIVERSE RISK GOVERNANCE
South African Bank Note Company (RF) Proprietary Limited
Annual Report 2021
19