A comprehensive risk management approach has been adopted by the Group to ensure that all material risks are properly identified and effectively managed across all its business functions and activities in line with the Group’s strategic direction. The approach undertaken is guided by the Group Enterprise-wide Risk Management Policy (ERMP) and Risk Appetite Statement (RAS) which covers the identification, assessment, control and mitigation, monitoring and reporting of material risks faced by the Group in a structured, systematic and consistent manner as follows: The Group ERMP and RAS provide the Board, Management and staff with the appropriate tools to assess and manage both existing and potential risks, considering its risk profiles, business strategies and evolving internal and external environment. Risk Management Process Step 1: Risk Identification Step 2: Risk Assessment Step 3: Risk Control and Mitigation Step 4: Risk Monitoring and Reporting RISK TREND Increasing Decreasing Stable RISK IMPACT Low Moderate High Very Significant 57 w w w . b a n k i s l a m. c o m 01 02 03 04 MD&A – STRATEGIC REVIEW 05 06 07 08 09 Key Risks and Mitigations
RkJQdWJsaXNoZXIy NDgzMzc=