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ANZ's Risk Management framework provides a robust structure for the identification and management of risks from the Board to business unit level.
The ANZ Board's Risk Committee oversees the development and implementation of policies and frameworks for the management of risk across the bank and reviews credit transactions beyond the approval discretion of executive management.
The Risk Committee is supported by the Chief Risk Officer and various senior management committees focusing on credit and operational risks as well as regulatory capital, liquidity and funding.
Business Unit risk management committees and personnel discharge responsibilities for business, market, credit, operational, liquidity and reputation risk and compliance with regulatory obligations.
ANZ's internal audit function has responsibility for evaluating and providing advice on how to improve the effectiveness of ANZ's operations, including its risk management processes.
Internal audit reports to the Board's Risk Committee each quarter and ANZ's Chief Risk Officer attends the Audit Committee twice a year to report on the effectiveness of the risk management framework and any material issues.
ANZ has a clear framework for managing reputation, social and environmental risks.
Our Corporate Responsibility Council monitors current and emerging corporate responsibility risks and opportunities and reports to ANZ's Management Board on response strategies.
The Credit and Trading Risk Committee is the senior executive management forum responsible for the oversight and control of credit and market risk and has an explicit responsibility for responding to reputation impacts of lending decisions across the whole bank.
We have an established decision making process to ensure business decisions in our Institutional business are guided by sound social and environmental standards and take into account reputation risk.
Business unit committees and risk functions have responsibility for identifying and managing the implications of their business on ANZ's reputation. For instance, the Asia Pacific Reputation Risk Committee oversees the development of strategies and policies to assist reputation risk management in our Asia Pacific operations and provides senior management guidance on controversial transactions.
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