Transcription of Enterprise Wide Risk Management Framework
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Enterprise Wide Risk Management Framework
Enterprise Wide Risk Management Framework Regulatory Compliance 1 Risk Governance Committee Holistic approach Risk Culture, Risk Appetite Risk Framework Structure and Risk Values and Statement + Key Risk Authority Management Behaviours Key risks Policies Board and philosophy and Tone at the Risk Bearing Approve ERM. Board Risk key principles top capacity Framework Committee Link to strategic Reward and Risk Tolerance Risk Policy mandate + planning capital Remuneration and Limits Framework &. delegated + funding Transparency Hierarchy authorities frameworks and disclosure 2 Risk Oversight and Control Function CRO mandate and organisation Framework & policy oversight and maintenance Stress testing and resilience Model Validation and Approval Review, challenge, reporting & escalation Enterprise wide view and aggregation 3 Risk Operating 4 Risk Management 5 Portfolio Review 6 Contingency Model Identification Optimisation and Planning and 3 lines of defence Assessment Pricing Resilience Demarcation of Measurement Risk approval & Contingency roles and Response & underwriting Planning responsibilities Mitigation Risk return & Resilience testing Independence and Control & Monitor optimisation Franchise objectivity protection 7 Risk Data Aggregation, I
commensurate with the complexity and risk profile of the firm. Clear risk policy hierarchy and approval structure. 2 Risk Oversight and Control Function • Mandate of the Risk Oversight and Control function and the role of the Chief Risk Officer are congruent. • Risk Oversight and Control function is independent, objective and sufficiently well
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