This Committee is tasked with the responsibility of setting and reviewing the Bank’s risk policies. The coverage of supervision includes the following: Credit Risk, Reputational Risk, Operations Risk, Technology Risk, Market and Rate Risks, Liquidity Risk and other pervasive risks as may be posed by the events in the industry at any point in time.

The Terms of Reference of the Board Risk Management Committee includes the following:

  • Reviewing and recommending for the approval of the Board, the Bank’s Risk Management Policies including the risk profile and limits;
  • Determining the adequacy and effectiveness of the Bank’s risk detection and measurement systems and controls;
  • Evaluating the Bank Group’s internal control and assurance framework annually, in order to satisfy itself on the design and completeness of the framework relative to the activities and risk profile of the Bank and its subsidiaries;
  • Oversight of Management’s process for the identification of significant risks across the Bank and the adequacy of risk mitigation, prevention, detection and reporting mechanisms;
  • Reviewing and recommending to the Board for approval, the contingency plan for specific risks;
  • Reviewing the Bank’s compliance level with applicable laws and regulatory requirements which may impact on the Bank’s risk profile;
  • Conducting periodic review of changes in the economic and business environment, including emerging trends and other factors relevant to the Bank’s risk profile;
  • Handling any other issue referred to the Committee from time to time by the Board.

The Committee meets quarterly and additional meetings are convened as required. The Chief Risk Officer of the Bank presents regular briefings to the Committee at its meetings. 

Membership of the Committee is currently made up of six (6) members comprising: three (3) Non-Executive Directors and three (3) Executive Directors.

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