Role of Group Risk Management

The role of Group Risk Management is one of setting Group standards and guidelines, co-ordinating and monitoring risk management practices and ultimately reporting to the Sanlam and Sanlam Life Boards.

Group Risk Management plays an active role with regard to risk management in the Sanlam Group. The involvement includes the following: 
> Permanent invitees of business units' Risk and Audit committees;
> Member of the Central Credit committee (see description below);
> Transactional approval incorporated in approval frameworks of business units where appropriate;
> Involvement and approval of corporate activity transactions;
> Chairs the Capital, Asset and Liability and Non-listed Asset committees at Group level and the Group Risk Forum (see descriptions below);
> Guidance on risk-related matters at a business level; and
> Involvement with specialist risk management issues at business level.
A number of other risk monitoring mechanisms are operating within the Group as part of the overall risk management structure. The most important of these are illustrated in the following table:
Other risk monitoring mechanisms