Key Principles of Risk Management

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Key Principles of Risk Management

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Identify, assess, manage, and monitor risks effectively.

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Board Supervision of Risk

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The board of directors has ultimate responsibility for overseeing the bank's risk management framework.

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Risk Committee Reporting

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A dedicated risk committee provides an independent assessment and reports directly to the board.

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Detailed Risk Policy

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A comprehensive framework covering credit, market, operational, liquidity, reputational, strategic, compliance, and cyber risks.

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Regular Review and Update

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Risk policies should be reviewed and updated at least annually, considering both internal and external factors.

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Capital Requirements Regulation

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Sets minimum capital requirements to absorb potential losses, covering various types of risks.

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Liquidity Requirements

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Ensures banks have sufficient liquid assets to meet short-term funding needs and withstand liquidity shocks.

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Supervisory Statements

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Provides guidance on specific risk management areas such as model risk, operational risk, and stress testing.

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Principles for Business (FCA)

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High-level standards of conduct, including treating customers fairly and managing risks responsibly.

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Conduct Rules (FCA)

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Detailed rules governing specific areas such as financial promotions, product governance, and anti-money laundering.