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c) Ensure that top management as well as
individuals responsible for market risk manage- f) Ensure that the Bank’s operational risk
ment possess sound expertise and knowledge to management framework is subject to effective
accomplish the risk management function; and comprehensive internal audit by
operationally independent, appropriately trained
d) Approve the Bank’s strategic direction and and competent staff.
tolerance level for liquidity risk;

e) Ensure that the Bank’s senior management has REPUTATIONAL RISK
the ability and required authority to manage
liquidity risk; a) Set an appropriate tone and guideline regarding
the development and implementation of
f) Approve the Bank’s liquidity risk management effective reputational risk management
framework; and practices, including an explicit statement of a zero
tolerance policy for all unethical behaviour;
g) Ensure that liquidity risk is identified, measured,
monitored and controlled. b) Approve the Bank’s framework for the
identification, measurement, control and
management of reputational risk;
COMPLIANCE RISK
c) Monitor the Bank’s compliance with its
a) Approve the Bank’s code of conduct and ethics; reputational risk management policies and
recommend sanctions for material breaches of
b) Monitor the Bank’s compliance with laws and internal policies;
regulations, its code of conduct and ethics and
corporate governance practices; d) Review all exception reports by external parties
such as regulators and auditors; ensure that
c) Ensure new and changed legal and regulatory appropriate sanctions are applied to erring
requirements are identified, monitored and officers; demand from management appropriate
reflected in the Bank’s processes; explanations for all exceptional items; ensure
that management puts in place effective and
d) Approve the compliance structure, mechanisms remedial actions and provides progress to the
and processes established by management to Board on an on-going basis;
ensure compliance with current laws, regulations
and supervisory requirements; and e) Ensure that Board members do not compromise
their fit and proper status with regulators.
e) Ensure the Bank has a compliance culture that They shall ensure that only Board members who
contributes to the overall objective of risk do not tarnish the Bank’s image and reputation
management remain as members; and

f) Ensure that only fit and proper persons are
OPERATIONAL RISK appointed to senior management positions in the
Bank.
a) Oversee the overall governance of the Bank’s
operational risk management process;
STRATEGIC RISK
b) Set the Bank’s operational risk strategy and
direction in line with the Bank’s corporate a) Oversee the strategic risk management process.
strategy;
b) Ensure that the Bank has in place an appropriate
c) Approve the Bank’s operational risk management strategic risk management framework which
framework; suits its own circumstances and needs;

d) Periodically review the framework to ensure its c) Ensure that the strategic goals and objectives
relevance and effectiveness; are set in line with its corporate mission and
values, culture, business direction and risk
e) Ensure that senior management is performing tolerance;
their risk management responsibilities; and d) Approve the strategic plan (including strategies

80 Access BAnk Plc
Annual Report & Accounts 2017