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IC-1.3.3

Responsibilities of the senior management include:

(a) Ensuring that bank personnel involved in ICAAP activities have the adequate skills, including complex financial risk management skills, and that employees are adequately enabled through training.
(b) Ensuring that they have adequate understanding of the material risks that are impacting the business, as well as an awareness of emerging risks and vulnerabilities;
(c) Ensuring effective implementation of relevant policies, procedures, systems and controls;
(d) Communicating the internal controls and written policies and procedures throughout the bank; and
(e) Monitoring risk exposures in accordance with the risk appetite and limits approved by the Board.
(f) Ensuring that the Board receives adequate information pertaining to risk management and capital management, under both normal and stressed business conditions; and
(g) Monitoring and reporting of status against ICAAP to the Board.
July 2018