✨ Risk Management Policies
1098 NEW ZEALAND GAZETTE, No. 40 27 FEBRUARY 2008
(c) interest rate risk:
(d) equity risk:
(e) liquidity risk:
(f) operational risk:
(g) any other material business risk to which the banking
group is exposed.
2
Information about risk
The following information in respect of each of the categories
of risk set out in clause 1, to the extent not otherwise disclosed
to comply with paragraph of NZ IFRS 7:
(a) an explanation of the nature of the risk and the activities
of the banking group that give rise to that risk:
(b) a general description of the methods used to identify
and monitor exposure to the risk, including the
frequency with which exposures are monitored:
(c) a general description of the systems and procedures for
controlling the risk, including (if applicable)—
(i) whether exposure limits are employed; and
(ii) any policies with respect to collateral or other
security; and
(iii) any policies on the use of financial instruments
to mitigate or hedge risks.
3
Reviews of banking group’s risk management systems
A statement as to—
(a) the nature and frequency of any reviews conducted in
respect of the banking group’s risk management
systems; and
(b) whether any such reviews were conducted by a party
external to the banking group, overseas banking group,
ultimate parent bank, or ultimate holding company.
4
(1) Internal audit function of banking group
A statement whether the banking group has an internal audit
function.
(2) If the banking group has an internal audit function, a statement
describing—
(a) the nature and scope of the internal audit function,
including type and frequency of audits; and
(b) the reporting responsibilities of internal audit; and
(c) whether there is a board audit committee, and if so, the
nature and scope of that committee’s responsibilities.
5
Access to parental disclosures
A statement as to how users can access disclosures made by the
ultimate parent bank or ultimate holding company in relation to
capital adequacy requirements or risk management processes
implemented by the ultimate parent bank or ultimate holding
company.
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REBECCA KITTERIDGE, for Clerk of the Executive Council.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 40
Gazette.govt.nz —
NZ Gazette 2008, No 40
✨ LLM interpretation of page content
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Risk management policies schedule
(continued from previous page)
💰 Finance & RevenueRisk Management, Credit Risk, Currency Risk, Risk Policies
- REBECCA KITTERIDGE, for Clerk of the Executive Council