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The Group’s Board of Directors sets out the overall risk policies and limits for all material risk types. The Board also decides on the general principles for managing and monitoring risks.
On the basis of the overall risk policies, operational risk policies are prepared for the main business areas and submitted to the Group’s All Risk Committee for approval. The operational risk policies form the basis for the preparation of business procedures and reconciliation and control procedures for the relevant areas, as well as for the Group’s system development. Within the limits set, the managements of the individual business areas are responsible for the risks the areas incur and for actively managing these risks. |
