Dynamic Framework

The framework is dynamic and is adapted as the firm's businesses and the market environment evolve. The risk assessment and management oversight performed considers evolving best practices and is intended to conform to statutory requirements.

Control principles

There are five key principles which are intended to support us in achieving an appropriate balance between risk and return. These principles are:

• Controlling our overall risk exposures and assessing potential risk concentrations at the position and portfolio levels
• Reputation protection which depends, among other things, on the effective management and control of risks
• We are responsible for the continuous and active management of risk exposure to ensure that risk and return are balanced
• Independent control of risk through risk control functions which monitor the effectiveness of risk management
• Disclosure of risk to provide comprehensive, transparent and periodic reporting on our work