Key Principles of Risk Management

Key Principles of Risk Management

Assessment

Flashcard

Business

Vocational training

Easy

Created by

Ellie Mitchell

Used 2+ times

FREE Resource

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10 questions

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1.

FLASHCARD QUESTION

Front

Key Principles of Risk Management

Back

Identify, assess, manage, and monitor risks effectively.

2.

FLASHCARD QUESTION

Front

Board Supervision of Risk

Back

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

3.

FLASHCARD QUESTION

Front

Risk Committee Reporting

Back

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

4.

FLASHCARD QUESTION

Front

Detailed Risk Policy

Back

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

5.

FLASHCARD QUESTION

Front

Regular Review and Update

Back

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

6.

FLASHCARD QUESTION

Front

Capital Requirements Regulation

Back

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

7.

FLASHCARD QUESTION

Front

Liquidity Requirements

Back

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

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