Risk management remians a priority for GM&T. Ultimate responsibility for risk management within GM&T rests with the Board of Directors. However, day-to-day responsibility is delegated to the Risk Oversight Committee, which includes senior representatives from our parent companies.
The growth in our business last year came from increased volumes within existing businesses and expansion into new products, sectors and geographies. Responding to this, the Risk Management function continued to grow strongly – especially the Credit Risk, Market Risk and Enterprise Risk teams.
A new Regulatory Affairs team was established to ensure that, as we grow, we are able to influence and align with regulatory developments. This will help ensure that any risks arising in this area are appropriately understood and managed. The Risk Management function also includes a Strategy and Business Modelling team, which plays a major role in developing, implementing and monitoring strategy. This enables us to assess and act upon existing or future risks that may arise from entry into new transactions, products, markets or geographic locations.