Versions

 

IC-1.3.2

Responsibilities of the Board include:

(a) Ensuring adequate capital management policies are in place; the Board must also review and approve these policies on an annual basis;
(b) Understanding the material risks that are impacting the business, and also having an awareness of emerging risks and vulnerabilities;
(c) Reviewing and approving the capital plan and corresponding capital actions;
(d) Defining the risk appetite/risk tolerance of the bank;
(e) Ensuring that the bank has a sound risk management framework in place;
(f) Ensuring that the accountability and lines of authority are clearly delineated and effectively communicated throughout the organization;
(g) Ensuring that the bank implements adequate infrastructure and controls to measure, monitor and mitigate risk effectively; and
(h) Ensuring that the bank has adequate capital proportionate to its risk profile under normal and adverse conditions.
July 2018