Annual Report - Ahli United Bank

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Annual Report - Ahli United Bank

6. OPERATIONAL RISK (continued)The operational risk management framework has been in place for a number of years and is ingrained in the Bank’s processes. TheBank has developed a comprehensive ‘operational risk self assessment (ORSA)’ process.7. INFORMATION TECHNOLOGY RISKAll computer system developments and operations are centrally controlled and common systems are employed across the Groupwherever possible.8. STRATEGIC RISKThe Board supported by Strategic Development Unit and the Group Finance manages strategic risk on an ongoing basis. The Boardreceives regular performance reports with details of strategic / regulatory issues as they arise.9. LEGAL, COMPLIANCE, REGULATORY AND REPUTATIONAL RISKSProtecting the reputation of the Group is of paramount importance and all management and staff are expected to apply the higheststandards of business conduct and professional ethics at all times.Regulatory and Reputational Risk is jointly managed by the Compliance, Risk Management, and Legal departments.10. ENVIRONMENTAL RISKThe Bank recognises the importance of environmental and social issues within its risk framework, and has established an Environmentaland Social Management System (ESMS) which details the policy, procedures and workflow that will be followed by the Bank and itssubsidiaries / affiliates in respect of environmental risk.The Bank continually endeavours to ensure effective environmental and social management practices in all its activities, products andservices with a focus on the applicable national laws on environmental, health, safety and social issues.As such the Bank will finance projects only when they are expected to be designed, built, operated and maintained in a mannerconsistent with the applicable national laws.AUB Annual Report 2009123

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