Objectives
The Risk Management Committee assists the Board of Directors. Its objective is to promote a sound risk culture throughout Alpha Services and Holdings and its subsidiaries.
The Committee aims at adopting a well-defined risk appetite statement and framework, and cascade into limits per country, sector and business area.
It also oversees the implementation of effective mitigating and corrective measures, in cooperation with the Audit Committee, as appropriate.
Responsibilities
To accomplish its objectives, the Risk Management Committee:
- Determines the principles which govern risk management in terms of the identification, measurement, monitoring, control and mitigation of risks.
- Reviews regularly, at least annually, the Internal Capital Adequacy Assessment Process (ICAAP) and the Internal Liquidity Adequacy Assessment Process (ILAAP),and related target ratios.
- Assesses the overall effectiveness of capital planning, allocation processes and systems, and the allocation of capital requirements to risk types. ยท
- Keeps itself informed of recent regulatory developments, emerging supervisory expectations, the results of supervisory requests and the Supervisory Review and Evaluation Process (SREP) conclusions.
Read more about the responsibilities of the Risk Management Committee in the Risk Management Committee Charter.
Composition and tenure
The Committee consists of Non-Executive Board Members, Independent in their majority, with a 4-year tenure.
The Committee includes:
- 1 Member of the Audit Committee to ensure proper sharing of information.
- 1 Member in charge of overseeing ESG risk issues.
All the Committee Members have prior experience in the financial services sector and appropriate knowledge, skills and expertise concerning risk management and control practices.
The Chair of the Risk Management Committee is an Independent Non-Executive Board Member with significant experience in the financial sector.