Risk management objectives and principles
The Group operates a strong and independent, business-minded risk management system. Its main objective is to contribute to the
sustainability of risk adjusted returns through implementation of an efficient risk management system. Four major principles in the course of risk management have been adopted to enable the accomplishment of major objectives:
· Govern risks in a transparent manner to obtain understanding and trust. Consistency and transparency in risk-related processes and policies represent preconditions for gaining trust from various stakeholders. The communication of risk goals and strategic priorities to governing bodies and the provision of a comprehensive follow-up in an accountable manner are key priorities for risk staff.
· Promote sustainable growth and the Group’s resiliency through prudent risk management. Risk management represents a backstop against excessive risk-taking. Capital adequacy management and strong forward-looking tools and decision-making ensure the Group’s sustainability and resiliency.
· Ensure that risk management is an enabler of the Group’s strategy. Risk staff provide assurance on the feasibility of the achievement of objectives through risk identification and management. Identification and the adequate pricing of risks, as well as risk mitigation actions, help generate desired returns and achieve planned targets.
· Ensure that risk management represents a competitive advantage for the Group. Comprehensive, transparent and prudent risk governance facilitates understanding and trust from multiple stakeholders and ensures the sustainability and resiliency of the business model and the positioning of risk management as the Group’s competitive advantage and strategic enabler.
TBC Bank Group PLC and its subsidiaries adopt all building blocks for effective risk identification, aggregation and management
For further information on Risk Management of TBC Bank JSC, please follow the link.
Last updated on 10 August 2016.