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Nedbank Group follows a policy of enterprisewide risk management (ERM), which aligns strategy, policies, charters, people, processes, technology and knowledge in order to evaluate and manage the opportunities, threats and uncertainties the group may face in its ongoing efforts to create shareholder value. ERM also seeks to integrate risk and capital management across the group’s entire risk universe, including business units and operating divisions, geographical locations and legal entities.
Against this backdrop, all risks – including those associated with sustainability – are managed according to a ‘three lines of defence’ model. It is the Nedbank Group’s view that a strong risk governance process is the foundation for successful risk management, which is why this model represents the core of the business’ Enterprisewide Risk Management Framework (ERMF). The ERMF places emphasis on accountability, responsibility, independence, reporting, communications and transparency, and comprises 17 risk categories that are managed, monitored, measured and reported on by the first, second and third line-of- defence functions.
Click here to read the full Risk and balance sheet management review in the 2010 Nedbank Group Annual Report.
| This page was updated on 30 March, 2011 |  Return to top |
