Risk Committee
The Committee consists entirely of non-executive Directors most of whom are independent Directors.
The Risk Committee plays a key role in setting the risk appetite and strategy of the Group and ensuring compliance with risk management strategy, policies and regulations.
The Committee's main duties and responsibilities are:
- To evaluate the Group's governance, risk and control framework and its integration with the Bank's decision making process, covering the whole spectrum of the Bank's activities and units as well as subsidiaries.
- To monitor and ensure compliance of the Group with the adopted risk strategy by reviewing reports prepared by the Group Risk Management Division and make recommendations to the Board on the significant risks to which the Bank is exposed.
- To review, evaluate and make relevant recommendations to the Board on the ICAAP and ILAAP reports which aim to assess all important risks undertaken by the Group and determine capital requirements of the Group and liquidity adequacy.
- To examine whether the incentives set by the remuneration policy take into consideration the Bank's risk, capital and liquidity structure.
- To approve loans which exceed a certain level as per the Lending Policy of the Group.
- To receive management reports on credit, market, liquidity, operational, litigation and reputational risks.
Terms of Reference of the Risk Committee
Risk Committee (RC)
Monique Eugenie Hemerijck (Chair)