MANAGEMENT

Detailed explanation-1: -Comment: Risk management is responsibility of a whole project team. They should identify the risks as early as possible and come up with the ways to deal with them. 3.

Detailed explanation-2: -The Management Group, consisting of the President (Chair) and those responsible for the various business areas, bears the responsibility for implementing risk management, monitoring operational risks and measures related to risks.

Detailed explanation-3: -Risk management is the process of identifying, measuring and treating property, liability, income, and personnel exposures to loss. The ultimate goal of risk management is the preservation of the physical and human assets of the organization for the successful continuation of its operations.

Detailed explanation-4: -CEO is in charge of the risk management process of the Group and its continuous development, allocation of resources to the work, review of risk management policies as well as defining the principles of operation and overall process. CEO reports to the Board on risk management as part of the monthly reporting.

Detailed explanation-5: -The Bank’s financial and operational risks are overseen by an independent, risk management function that is also responsible for ensuring an integrated approach to risk management. Each BIS customer has a dedicated relationship manager who is responsible for promoting the Bank’s financial services.