The Enterprise Risk Management (ERM) Department is responsible for facilitating, coordinating, and advising the CBL Management and Board of Governors on risk management processes. It also promotes and implements enterprise risk management consistently throughout CBL and ensures continuity, building resilience through a robust business continuity management framework. The Department works in the following areas:
- Identify and assess CBL’s risk exposure.
- Provide overall leadership, vision, and direction for risk management throughout the Bank.
- Develop risk management strategies, principles, frameworks, and policies.
- Conduct regular risk and control assessments across the Bank.
- Lead the process of developing policies and procedures to eliminate control gaps.
- Regularly update risk registers that capture the entire risks universe within CBL.
Positive Risk Culture
- Create an internal culture of self-supervision that can identify and manage risks.
- Implement appropriate risk management processes and methodologies.
- Regularly organize risk-focused training with various CBL departments.
- Organize risk-focused workshops for Senior Management and the CBL Board.
- Provide guidance for Management and staff when overseeing or implementing the development of processes, systems, and techniques for managing risks.
- Timely delivery of appropriate coordinated risk management information.
- Identify and oversee the resolution of risk management issues and report to the Board on their management.
- Conduct CBL risk assessment.
- Lead and participate in departmental controls procedures.
- Regularly update risk registers that capture CBL’s entire risk universe.
- Monitor the application and effectiveness of risk management processes.
- Manage risks within acceptable tolerances as set by the Board
- Recommend key controls to be implemented by departments.
- Conduct periodic assessment of departments' compliance with recommendations.
- Report on a timely basis key risk indicators CBL departments