Page 75 - ACCESS BANK ANNUAL REPORTS_eBook

enterprise-wide risk management deficiencies;
Access Bank considers risk management philosophy and • Adopt a holistic and integrated approach to risk
culture as the set of shared beliefs, values, attitudes and management and bring all risks together under
practices that characterize how the Bank considers risk in one or a limited number of oversight functions;
everything it does, from strategy development and imple- • Empower risk officers to perform their duties
mentation to its day-to-day activities. In this regard, the professionally and independently without undue
Bank’s risk management philosophy is that a moderate and interference;
guarded risk attitude ensures sustainable growth in share- • Ensure a clearly defined risk management
holder value and reputation. governance structure;
• Ensure clear segregation of duties between
The Bank believes that enterprise risk management market facing business units and risk
provides superior capabilities to identify and assess the full management/control functions;
spectrum of risks and enables staff at all levels to better un- • Strive to maintain a conservative balance
derstand and manage risks. This will ensure that: between risk and profit considerations; and
• Continue to demonstrate appropriate standards
• Risk acceptance is done in a responsible manner; of behaviour in the development of strategy and
• The Executives and the Board of the Bank have pursuit of objectives.
adequate risk management support;
• Uncertain outcomes are better anticipated; b) Risk officers partner with other stakeholders
• Accountability is strengthened; and within and outside the Bank and are guided in
• Stewardship is enhanced. the exercise of their powers by a deep sense of
responsibility, professionalism and respect for
The Bank identifies the following attributes as guiding prin- other parties.
ciples for its risk culture.
c) The Bank partners with its customers to
a) Management and staff: improve their attitude to risk management and
• Consider all forms of risk in decision-making; encourage them to build corporate governance
• Create and evaluate business-unit and Bankwide culture into their business management
risk profile to consider what is best for their
individual business units/department and what is d) Risk management is governed by well-defined
best for the Bank as a whole; policies, which are clearly communicated across
• Adopt a portfolio view of risk in addition to the Bank.
understanding individual risk elements;
• Retain ownership and accountability for risk and e) Equal attention is paid to both quantifiable and
risk management at the business unit or other non-quantifiable risks.
points of influence level;
• Accept that enterprise-wide risk management is f) The Bank avoids products and businesses it does
mandatory, not optional; not understand.
• Strive to achieve best practices in enterprise-wide
risk management;
• Document and report all significant risks and

Access BAnk Plc 75
Annual Report & Accounts 2017