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Effective from Oct 23 2022 - Oct 22 2022 To view other versions open the versions tab on the right
The Company shall:
1.
Establish a clear written business strategy and risk management policy to be approved and updated annually by the board. The risk management policy must cover all relevant types of risks and include actions for addressing them, taking into consideration all business activities, including outsourced processes and tasks.
2.
Establish appropriate procedures to identify, assess, manage, monitor and report risks. Such procedures shall be included in a comprehensive risk management framework in order to ensure:
a.
Early and comprehensive identification of risks.
b.
Assessment of correlations between risks.
c.
Immediate coordination with the board, audit committee, risk and credit management committee, senior management, concerned staff and the internal audit department, where necessary.
3.
Establish a risk management function that reports directly to the risk and credit management committee. The committee shall present its views about risk management reporting to the board.
