Risk Committee

The Risk Committee recommends the risk appetite framework in line with the Bank’s strategy, and regularly reviews the Bank’s risk profile taking into account the current and prospective macroeconomic, macro-prudential and financial environment. Risk strategies are discussed on both an aggregate basis, as well as by type of risk. The Risk Committee follows closely correspondence with regulators and management actions.
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Any risk identified falls within one of the following categories:

• Financial risk
• Market risk
• Credit Risk
• Operational risk (including relating to the prevention of money laundering and funding of terrorism)
• Reputational risk
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The Risk Committee recommends the risk appetite framework in line with the Bank’s strategy, and regularly reviews the Bank’s risk profile taking into account the current and prospective macroeconomic, macro-prudential and financial environment. Risk strategies are discussed on both an aggregate basis, as well as by type of risk. The Risk Committee follows closely correspondence with regulators and management actions.

The Risk Committee reviews and considers reports from the Risk Management and Compliance functions to ensure good standing of the Bank’s risk profile, risk culture, risk appetite and limits, and risk mitigation plans.

The Risk Committee reviews and advises the Board on the liquidity adequacy assessment and internal capital adequacy assessment process (ILAAP and ICAAP) and endorses statements in relation to risks in the annual report. Furthermore, the Risk Committee actively participates in the annual review of the Bank’s Business Risk Assessment and in the review of policies relating to the prevention of money laundering and funding of terrorism. The Risk Committee advises and where necessary, updates and approves any recommendations of the Audit Committee to the Board, relating to any financial or operational risk policy statements required by law or regulation.

The Risk Committee is currently made up of three non-executive directors whose combined skills are sufficient to address all the above risk categories: