Effective risk management is integral to the Group's objective of consistently adding value to the business. Management is continuously developing and enhancing the Group's risk and control procedures to improve the mechanisms for identifying, assessing and monitoring risks. The Board approves strategies and budgets and monitors progress against the budget. It also considers the identified business risks.
Risk management is addressed in the areas of physical and operational risks, human resource risks, technology risks, business continuity and disaster recovery risks, credit and market risks and compliance risks.
Risks are periodically reviewed and updated on a regular basis.