A centralised risk management co-ordination function in the Bank is performed by the Risk Management and Compliance Department (RMCD). The role of the RMCD is to
Facilitate risk management ownership by management;
Provide a standardised strategic and operational risk management methodology and process; Validate that the risk management processes are adequate and effective and comply with internationally accepted risk management standards; and
Ensure standardised and integrated reporting on all risk management activities and exposures to the Governors' Executive Committee via the Risk Management Committee, as well as to the Board Risk Committee.
The RMCD is also responsible for the co-ordination and facilitation of specialised operational risk management processes, including business continuity management, occupational health and safety management as well as compliance risk management. Reporting on these risk management activities to the aforementioned committees is also co-ordinated by the RMCD.