Page 69 - ACCESS BANK ANNUAL REPORTS_eBook

greater regulatory monitoring. • Developed models for scenario analysis to better
capture and anticipate evolving macroeconomic
At Access Bank, our analytical and reporting processes had dynamics and impact at industry, sectoral and
anticipated many of the above-mentioned issues and we obligor levels.
had proactively put in place mitigants necessary to cush-
ion the impact of these shocks. Beyond taking pre-emptive • Increased regulatory Intelligence
mitigating steps, the outlook was viewed as an opportunity
to further optimise our risk and governance processes and • The Bank reduced its exposure on
position the Bank to benefit from market and regulatory accounts without Bank Verification
developments. The Bank also placed great importance on Number (BVN) through proactive
making a difference in the environment in which people intelligence gathering.
live and work, fostering and maintaining relationships with • Consolidated on the Cluster
communities and developing several climate change man- Compliance structure which led to
agement initiatives both within the Bank and in our lending increased efficiency in compliance
activities. Our sustainable banking model has afforded us monitoring.
the opportunity to facilitate the development of innova-
tive banking products designed to enhance our digital loan • Full compliance with Stamp Duty
offerings thereby prompting financial inclusiveness. It has remittance in line with
also helped in the formulation of a robust management goverment’s directive.
framework to support these initiatives.
• Continuously improved processes for
In summary, the year 2017 was a very engaging year for risk Enhanced Service Delivery by:
management. Various risk management initiatives came
to fruition during the period which added to the range of • Developing data enhancement portal
risk management tools that assisted the Bank in managing which improved data quality and report
risks over the period. Some of these included the following: rendition to the Nigerian Financial
Intelligence Unit (NFIU).
• Upgraded our interest rate risk measurement
and the basis of interest rate risk capital • Developing Politically Exposed Person
measurement to Economic Value of Equity. (PEP) attestation portal for report
rendition to the CBN and ongoing due
• Deployed a digital risk management framework diligence on PEPs.
to ensure digital risks are proactively identified
and properly managed as the Bank expands its • Tracking the implementation of digital
retail frontiers through digital channels. banking products to ensure 100%
regulatory compliance.
• Developed an Enterprise-wide Risk Management
Dashboard that shows the Bank’s position in all • Automation of the policy initiation and
the risk areas in line with Strategic Business review process.
Units, products, channels and geographies • Further empowered the First Line of Defence
against defined limits, key risk indicators by:
and policies.
• Development of tools to assist the First
• Implemented International Financial Reporting Line of Defence with Suspicious
Standards (IFRS) 9-compliant models for the Transaction Reports (STR).
measurement and reporting of loans and
receivables. • Strengthening advisory support for
Business and Reputational decision
• Designed and implemented an automated Asset
Liability Management (ALM) reporting tool which making and innovative training
is an end-to-end solution that automates the methods e.g.Financial Action
entire ALM Reports generation operation. Task Force (FATF) game
The above remained pivotal in supporting the Bank’s risk
The tool helps to ensure the accuracy and au- optimisation in the course of the year, as well as making
thenticity of reports, cut down processing time, critical and strategic investments in the Bank’s medium and
allow on-demand report generation and provide long-term sustainability strategy. It is not surprising there-
flexibility in report definition while generating the fore that with all these investments and passionate drive,
report.
Access Bank won the 2017 Sustainability Awards managed
• Developed in-house macroeconomic and by the Central Bank of Nigeria (CBN) in all categories includ-
financial models for Probability of Default, Loss ing driving Environmental and Social Risk practices in our oil
Given Default, stress testing and loan grading & gas and agricultural lending activities.

Access BAnk Plc 69
Annual Report & Accounts 2017