Risk management policy

As a Group, we have procedures and regulations aimed at risk control in all fields. Clear and cautious limits are defined for each individual type of risk, compliance with which is constantly monitored by departments other than the originators.

These limits are updated regularly and adapted according to the relevant risk profile. There is then a further specifically codified system of certification and reporting of checks to ensure an adequate flow of information at all levels.

The ultimate objective is to maintain the Group’s stability and reputation, including in the event of adverse conditions and events.

The analysis is essentially based on the data produced by he risk management system and on the reports issued by Internal Audit, the Executive Board, Risk Control and Compliance.

The Board of Directors is responsible for implementing the instructions issued by the Executive Board, in turn tasked with the optimum organization of the risk monitoring system and providing it with the appropriate human and technical resources.

The Risk Control Unit, which complies with the requirements of independence and professionalism, is operationally responsible for identifying and measuring risks, as well as monitoring compliance with policy and limits.

Risk Control prepares a quarterly group-wide risk report to the Executive Board and the Board of Directors.