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3. Roles and Responsibilities
The BRC shall have the following specific
responsibilities on:-
i) Strategy and Policy
• Reviewing
and
recommending
risk
management philosophy and strategy to
the Board for it’s approval.
• Reviewing and approving the risk
management policies, controls and systems
of the Bank in line with the Board approved
risk management philosophy and strategy.
• Reviewing and proposing the setting of
the risk appetite/tolerance of the Bank at
enterprise and at strategic business unit
levels to the Board.
• Approving new products/services, which
are fundamentally different from the Bank’s
existing products/services, based on advice
from the Management Risk Committee
(MRC) and Risk Management Division. In
case of approval granted, to notify the
Board of the same in accordance with local
regulatory requirements.
• Maintaining continued awareness of
any changes in the Bank’s risk profile
to ensure that the Bank’s business
activities are in line with the overall
risk strategy.
ii) Organisation
• Overseeing the overall management
of all risks including market risk
management,
asset
and
liability
management, credit risk management,
country risk management and operational
risk management.
• Ensuring that there are clear and
independent
reporting
lines
and
responsibilities for the overall business
activities and risk management functions
and recommending risk management
derived organisational alignments where
necessary to the Board.
• Cultivating a proactive risk management
culture within the Bank so that risk
management processes are applied in the
day-to-day business and activities.
• Appropriating independent review of the
Bank’s risk management infrastructure,
capabilities, environment and processes
where necessary.
iii) Measurement
• Approving
risk
methodologies
for
measuring and managing risks arising
from the Bank’s business and operational
activities.
• Ensuring the appropriateness of the
risk
measurement
methodologies
(including assumptions made within the
methodologies) under the prevailing
business environment.
CORPORATEGOVERNANCE
DISCLOSUREREPORT
056
EXIM Bank Annual Report 2013