Page 83 - ACCESS BANK ANNUAL REPORTS_eBook

the Board Risk Management Committee (BRMC) serve as complaints within the shortest possible time.
channels for reporting compliance risk.
STRATEGIC ALLIANCE & PARTNERSHIPS
aNtI-BrIBery aND COrruPtION IMPLeMeNtatION
As part of our contribution towards the enhancement of
Access Bank continues to adopt a zero-tolerance approach the financial industry’s existing framework and initiatives
to bribery and corruption. The Bank conducts business af- to combat financial crimes and terrorist financing, the
fairs in a manner that shuns the use of corrupt practices or Conduct and Compliance Group continues to partner with
acts of bribery to obtain unfair advantage in our dealings DATAPRO Ltd and the Financial Institutions Training Cen-
within the markets and the communities we operate. tre (FITC) to organize training sessions on compliance risk
management where compliance issues such as emerging
The Bank and all its subsidiaries have a Board approved risk regulations and standards, new international and regu-
policy which sets out the general rules and principles we latory landscape are discussed.
adhere to and continue to communicate to all employees,
directors, business associates as well as relevant partners, The Compliance Institute of Nigeria (CIN) which is a brain
suppliers, vendors and other stakeholders the need to child of the Association of Chief Compliance Officers of
maintain high ethical and professional conduct while doing Banks in Nigeria (ACCOBIN) is a network of experienced
the Bank’s business. and certified Anti-Money Laundering (AML) and Anti-Ter-
rorist Financing (ATF) professionals working on ground in
CONDUCT RISK IMPLEMENTATION Nigeria recently admitted over 120 Compliance and Internal
Audit staff of the Bank as Compliance Designates, Associ-
Conduct Risk: Detriment caused to our customers, clients, ates and Fellows of the Institute. Our own Chief Conduct
counterparties, or the Bank and its employees through in- and Compliance Officer, Mr. Pattison Boleigha is presently
appropriate judgment in execution of business activities. the pioneer president of the Institute. Access Bank was also
We continue to review and improve how conduct risk is as- honored by the Association of Chief Compliance Officers
sessed and reported throughout our business. The Bank of Banks in Nigeria (ACCOBIN) for the Bank’s pivotal role
is committed to putting customers at the heart of the de- during the pioneer stage of the Association.
cisions, treating customers fairly and resolving customer

OPERATIONAL RISK MANAGEMENT

Operational risk is the risk of loss resulting from inadequate We seek to minimise exposure to operational risk, subject
or failed internal processes, people, or systems, or from to cost trade-offs. Operational risk exposures are managed
external events. Our definition of operational risk excludes through a consistent set of management processes that
regulatory risks, strategic risks and potential losses related drive risk identification, assessment, control and monitor-
solely to judgments with regard to taking credit, market, in- ing.
terest rate, liquidity, or insurance risks.
The goal is to keep operational risk at appropriate levels
It also includes the reputation and franchise risk associ- relative to the characteristics of our businesses and the
ated with business practices or market conduct in which markets in which we operate, our capital and liquidity, and
the Bank is involved. Operational risk is inherent in Access the competitive, economic and regulatory environment.
Bank’s global business activities and, as with other risk Notwithstanding these controls, Access Bank incurs oper-
types, is managed through an overall framework designed ational losses.
to balance strong corporate oversight with well-defined in-
dependent risk management. Our operational risk strategy seeks to minimise the impact
that operational risk can have on shareholders’ value. The
This framework includes: Bank’s strategy is to:

• recognized ownership of the risk by the • Reduce the likelihood of occurrence of expected
businesses; events and related cost by managing the risk
• oversight by independent risk management; and factors and implementing loss prevention or
• independent review by Corporate Audit. reduction techniques to reduce variation to

Access BAnk Plc 83
Annual Report & Accounts 2017