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Navigate risks with Three Lines Of Defence Model
Corporate Governance
The Board of Directors maintains a reliable system of risk management and internal control to safeguard the interest of PNB and unitholders. PNB adopts Three Lines of Defence Model with a formalised and effective governance structure in place. The structure promotes a uniformed view of risk across PNB by ensuring a consistent and effective implementation of risk management practices throughout the organisation with involvement of Board and Senior Management.
Fundamental of Risk Elements
PNB implements a structured and consistent approach to the monitoring and reporting on risk management at enterprise-wide-level guided by the PNB Enterprise Risk Management (ERM) Framework.
The independence of the risk management function and its close alignment to the business ensures consistent and effective risk oversight via the following fundamental risk elements:
Risk Governance and Oversight
Clear accountability and sound governance structure with transparent and lines of responsibilities.
Risk Appetite
Risk sensitive limits which cascade down to business level and type of risk that PNB is willing to accept in pursuit of its business objectives.
Risk Management Practices and Processes
Holistic risk management processes are in place to identify, analyse, monitor, and manage risk with appropriate mitigation strategies.
Risk Reporting and Escalation Path
Structured and consistent approach to the monitoring and reporting of risks to enable risk oversight to understand, challenge and ultimately make decisions.
Risk Culture
Core element of an effective risk management structure in strengthening risk governance and embedding risk practices in day-to-day operations.
Resiliency and Readiness
Building organisational resilience and ability to respond in dealing with an ever-changing risk landscape.
Risk Governance and Oversight
Clear accountability and sound governance structure with transparent and lines of responsibilities.
Risk Appetite
Risk sensitive limits which cascade down to business level and type of risk that PNB is willing to accept in pursuit of its business objectives.
Risk Management Practices and Processes
Holistic risk management processes are in place to identify, analyse, monitor, and manage risk with appropriate mitigation strategies.
Risk Reporting and Escalation Path
Structured and consistent approach to the monitoring and reporting of risks to enable risk oversight to understand, challenge and ultimately make decisions.
Risk Culture
Core element of an effective risk management structure in strengthening risk governance and embedding risk practices in day-to-day operations.
Resiliency and Readiness
Building organisational resilience and ability to respond in dealing with an ever-changing risk landscape.
Risk Reporting and Escalation Path
Structured and consistent approach to the monitoring and reporting of risks to enable risk oversight to understand, challenge and ultimately make decisions.
Risk Culture
Core element of an effective risk management structure in strengthening risk governance and embedding risk practices in day-to-day operations.
Risk Management Practices and Processes
Holistic risk management processes are in place to identify, analyse, monitor, and manage risk with appropriate mitigation strategies.
Risk Governance and Oversight
Clear accountability and sound governance structure with transparent and lines of responsibilities.
Resiliency and Readiness
Building organisational resilience and ability to respond in dealing with an ever-changing risk landscape.
Risk Appetite
Risk sensitive limits which cascade down to business level and type of risk that PNB is willing to accept in pursuit of its business objectives.
Risk Reporting and Escalation Path
Structured and consistent approach to the monitoring and reporting of risks to enable risk oversight to understand, challenge and ultimately make decisions.
Risk Culture
Core element of an effective risk management structure in strengthening risk governance and embedding risk practices in day-to-day operations.
Risk Management Practices and Processes
Holistic risk management processes are in place to identify, analyse, monitor, and manage risk with appropriate mitigation strategies.
Risk Governance and Oversight
Clear accountability and sound governance structure with transparent and lines of responsibilities.
Resiliency and Readiness
Building organisational resilience and ability to respond in dealing with an ever-changing risk landscape.
Risk Appetite
Risk sensitive limits which cascade down to business level and type of risk that PNB is willing to accept in pursuit of its business objectives.
Risk Reporting and Escalation Path
Structured and consistent approach to the monitoring and reporting of risks to enable risk oversight to understand, challenge and ultimately make decisions.
Risk Culture
Core element of an effective risk management structure in strengthening risk governance and embedding risk practices in day-to-day operations.
Risk Management Practices and Processes
Holistic risk management processes are in place to identify, analyse, monitor, and manage risk with appropriate mitigation strategies.
Risk Governance and Oversight
Clear accountability and sound governance structure with transparent and lines of responsibilities.
Resiliency and Readiness
Building organisational resilience and ability to respond in dealing with an ever-changing risk landscape.
Risk Appetite
Risk sensitive limits which cascade down to business level and type of risk that PNB is willing to accept in pursuit of its business objectives.