Overall risk management process re-evaluation and enhancement

Oversight by Risk Management Steering Committee and administration by Director of Risk Management

SAS 70 Type II contract with [Audit Vendor]

Creation of standardized policies and procedures for all technology- and operationally-driven processes

Formal assessment of each area by Director of Risk Management annually for continuous improvement of quality, efficiency, and overall internal control infrastructure

Incorporation of risk management into performance reviews

A New Approach to Risk Management

Financial institutions industry is characterized with increased volatility, complexity, and global Interdependencies

Financial institutions are adopting an enterprise wide approach to risk management

BaselAccord on Capital Adequacy (BaselII) – 2006

Quantification of risk and new frontier in risk management

Intended to guarantee that banks have sound risk management practices by aligning capital adequacy assessment more closely with the underlying risks in the banking industry

Basel II requires banks to demonstrate results of model consistency over a minimum period of two years of historical data.

Banks will need to ensure data integrity and timeliness of figures, effectively address different risk types, and guarantee accurate calculation of risk measures.

• Credit Risk
• Operational Risk
• Market Risk

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