HC-6.6.20
The Board must ensure that:
(a) a sound risk management culture is established throughout the bank;
(b) appropriate limits are established that are consistent with the bank's risk appetite, risk profile and capital strength, and that are understood by, and regularly communicated to, relevant staff;
(c) policy and processes are developed for risk-taking, that are consistent with the Risk Management Strategy and the established risk appetite;
(d) uncertainties attached to risk measurement are recognised; and
(e) senior management is taking all necessary steps to monitor and control all material risks consistent with the approved strategies and risk appetite.
Added: July 2018