Page 57 - ACCESS ANNUAL REPORT 2019

RISK MANAGEMENT
e reco ni e the role o responsi le ris mana ement practices in achievin our strate ic vision, and have a well esta lished ris overnance structure and experienced team to deliver on this mandate. Our ris mana ement ramewor provides essential tools to ena le us ta e timely and in ormed decisions to maximi e opportunities and miti ate potential threats.
Our Approach to Risk Management
Ris is an inherent part o the Ban and its usiness activities. Access Ban ’s overall ris tolerance is esta lished in the context o the Ban ’s earnin power, capital and diversified usiness model.
Effective ris mana ement is critical to any Ban or achievin financial soundness. In view o this, ali nin ris mana ement to the Ban ’s or ani ational structure and usiness strate y has ecome an inte ral part o our usiness. Access Ban ’s ris mana ement ramewor and overnance structure are intended to provide comprehensive controls and on oin mana ement o the ma or ris s inherent in its usiness activities. It is also intended to create a culture o ris awareness and personal responsi ility throu hout the Ban .
he Board o Directors and ana ement o the Ban are committed constantly to esta lishin , implementin and sustainin tested practices in ris mana ement to match those o leadin international an s. he Ban is convinced that the lon term sustaina ility o its ranchise depends critically on the proper overnance and effective mana ement o our usiness.
he evolvin nature o ris mana ement practices and the dynamic character o the an in industry necessitate a re ular review o the effectiveness o each enterprise ris mana ement component. As such, the Ban ’s Enterprise Ris ana ement ER ramewor is su ect to continuous review to ensure effective and cuttin ed e ris ma nOa e mEe nEtC. I E DIREC OR
(Resigned May 15, 2019)
Responsibility
he Chie Ris Officer has the primary responsi ility or ris mana ement and the review o the ER ramewor . All amendments to the Ban ’s ER
ramewor re uire Board s approval. he Ris ana ement and Compliance roup is responsi le or the en orcement o the Ban ’s ris policy y constantly monitorin ris , with the aim o identi yin and uanti yin si nificant ris exposures and actin upon such exposures as necessary. Access Ban Ghana has adopted with relevant modifications the ris mana ement ramewor o its parent company which is ased on the uidelines o the Basel II Capital Accord. he overall o ective is to ensure that ro ust and appropriate ramewor and scenario stress testin to assess the potential impact on the Capital ade uacy and the Ban s strate ic plans are put in place.
Risk Culture and Appetite
he Ban ’s ris mana ement philosophy is that a moderate and uarded ris attitude ensures sustaina le rowth in shareholder value and reputation. he Ban elieves that enterprise ris mana ement provides the superior capa ilities to identi y and assess the ull spectrum o ris s and to ena le staff at all levels to etter understand and mana e ris s.
he Ban ’s ris appetite can e expressed in terms o how much varia ility o return the Ban is prepared to accept in order to achieve a desired level o result. It is determined y considerin the relationship etween ris and return. he Ban s ris appetite is always set at a level that minimi es erosion o earnin s or capital due to avoida le losses in the an in and tradin oo s or rom rauds and operational inefficiencies.
Risk Management Strategy and
Objectives
he strate y or the mana ement o ris is to empower all our staff actively to identi y, control, monitor and re ularly report ris issues to mana ement.
he road ris mana ement o ectives o the Ban are
• o identi y and mana e existin and new ris s in a planned and coordinated manner with minimum disruption and cost
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driving sustainable
Annual Report
growth through innovation