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Risk Management

By serving as the central nervous system of our entire corporate strategy, risk management at RIC is a highly integrated function that reaches into all departments and processes at the company. Through encouraging best practices and risk management control systems, the professional team at RIC also focuses on the overall assessment of the company, portfolio analysis through the utilization of a risk-based approach that
includes systematic limit monitoring. A regular identification of financial and non-financial risks is performed by risk management, as well as end to end departmental process risk assessment and maintenance of strong internal control through a continuous process of checks and balances that is in place. Other responsibilities within the risk management department at RIC are building a risk-aware culture through workshops and knowledge transfer sessions within business units, working with management and business units to mitigate high risk and the maintenance of control over functional process, specifically through risk control matrices that doubly monitor and manage identified risk.

 

Risk Identification

 

  • Offering a clear identification of both existing and potential risks
     
  • Outlining the possibilities within each identified risk
     
  • Creating a risk-mitigation action plan while defining a mechanism for monitoring
     
  • Utilization of advanced financial matric tools to quantify risk
     
  • Monitoring regularly by risk and audit committee members, upper management and regulators