The Bank continues to refine and enhance its Risk Management framework for managing Credit, Market, Operations and other risks across the Bank. This framework was laid down with the assistance of a leading international consulting firm. It addresses the identification, measurement and monitoring of all risks across the Bank.

The Bank’s Risk Management Division is an independent function reporting to the Risk Management Committee. On a day-to-day operational basis, it reports to the General Manager. The Division is organized along the industry’s best practices and has the overall responsibility of developing and implementing risk-focused policies and procedures. The latter are regularly reviewed and, when necessary, modified and improved to reflect the changes in market and products. This has resulted in the strengthening of the risk management function while increasing protection of the Bank’s assets and income stream, as well as safeguarding depositors’ interests and returns to shareholders.

In providing overall control and management of all risks across the Bank, the risk management function is supported by a number of committees. These committees include the Audit Committee, the Executive Committee, the Risk Management Committee, the Asset and Liability Committee, the Credit Committee and the Anti-money Laundering Committee.

Risk Management at the Bank is divided into four key functions: