Description of functions<strong>Group</strong> Finance<strong>Group</strong> finance is responsible for thecontrol and governance of the group’saccounting policies and disclosurerequirements for both financial andmanagement reporting, as well as thepreparation and communication of thegroup financial results. This includesproactively managing the tax affairsof the group, together with budgeting,modelling and forecasting, target settingand ongoing tracking and maintenanceof the group’s financial affairs. The<strong>Group</strong> Shared Services Centre within<strong>Group</strong> Finance provides, among others,centralised processing, procurement andproperty services.Balance Sheet ManagementBalance Sheet Management is responsiblefor managing the group’s regulatory,economic and statutory capital consistentwith the current and planned levelsof business activity, risk appetite andrequired/desired level of capital adequacy(including its target debt rating). BalanceSheet Management is mandated toensure that capital is employed efficientlyacross the group based on an economiccapital allocation and risk-adjustedperformance measurement model toensure that an optimal level of capitalfor the group and its subsidiaries ismaintained. Balance Sheet Managementoptimises the risk profile of the balancesheet through risk portfolio and valuebasedmanagement principles, risk-basedstrategic planning, and management ofcapital buffers, integrated with stress andscenario testing and risk appetite. Formore details refer to the Risk and BalanceSheet Management Report on pages 126to 187.<strong>Group</strong> Technology<strong>Group</strong> Technology is <strong>Nedbank</strong>’scentralised technology unit withresponsibility for all components ofthe group’s technology processing,development and systems support.The group’s information technology(IT) systems, databases, technologyinfrastructure, software development andIT project/programme management arecentrally managed to provide economiesof scale and to facilitate a cohesivegroupwide service-orientated architecturetechnology strategy.Human ResourcesHuman Resources is esponsible for theoverall integrity and operation of thehuman resources function for the group,which includes an integrated approach tobuilding a unique culture for competitiveadvantage, accelerating transformation,learning and growth, talent management,rewards management and building humanresources capability and excellence.<strong>Group</strong> Marketing, Communicationsand Corporate AffairsThe <strong>Group</strong> Marketing, Communicationsand Corporate Affairs team has overallstewardship of the <strong>Nedbank</strong> brand, ofexternal and internal communicationsto the full spectrum of the group’sstakeholders, and of the group’soverall corporate social responsibilityprogramme, and is also responsible formonitoring the group’s transformationprogramme.Strategic PlanningStrategic Planning coordinates thestrategic planning activities across thegroup and assists in the implementationof its plans. The team also coordinatescorporate actions such as acquisitionsand disposals, and formulates the group’sviews on macro- and microeconomicissues. These views are used internally bythe group to inform its banking processesand are provided as a service to <strong>Nedbank</strong><strong>Group</strong> clients in the form of researchreports and presentations. Membersof the team also serve on a number ofindustry advisory boards.Ecobank allianceThe Ecobank <strong>Nedbank</strong> alliance is a groupinitiative through which <strong>Nedbank</strong> <strong>Group</strong>clients have access to the largestbanking network in Africa across33 countries in West, Central, East andsouthern Africa. The alliance’s centraloffice is in Johannesburg and serves toprovide support and facilitate variouscollaboration initiatives between thetwo organisations, cutting across allthe clusters. LocalKnowledgeAfrica, thealliance centre of excellence, focuseson assisting clients in expanding andgrowing business across Africa, andthrough local in-country and sectorintelligence overcomes some of the majorcomplexities of doing business in Africa.GROUP REPORTSGOVERNANCEOPERATIONAL REVIEWSOVERVIEW83<strong>NEDBANK</strong> GROUP ANNUAL REPORT 2009
chief financiALOFFICER’s REPORT‘A key feature of our performance was the strengthening of the group’scapital ratios, which are now comfortably above our target ranges.Strengthening the balance sheet remains a major focus and we continued togrow the net asset value.’84<strong>NEDBANK</strong> GROUP ANNUAL REPORT 2009Raisibe Morathi (40)Chief Financial Officer
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