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The Board of Directors, the Senior Management and the Group as a whole are firmly committed to risk management.
CaixaBank aims to maintain a medium-low risk profile, with a comfortable level of capital, to strengthen the confidence of customers and the rest of stakeholders through financial soundness.
As part of the internal control framework and in accordance with the Corporate Global Risk Management Policy, the Group has a risk management framework that enables it to make informed risk-taking decisions, consistent with the target risk profile and appetite level approved by the Board of Directors. This framework contains the following elements:
KEY ELEMENTS OF THE RISK MANAGEMENT FRAMEWORK
STRATEGIC RISK PROCESSES
RISK CULTURE
GGOVERNANCE AND ORGANISATION
Risk management framework
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Governance and organisation: it is implemented through internal policies, standards and procedures that ensure proper oversight by the governing bodies and committees, as well as by specialised staff. |
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Strategic risk processes to identify, measure, monitor control and report risks. To this end, the processes include four key elements, which are described below: Top risk events: the most relevant adverse events to which the Group is exposed beyond its own business model in the short to medium term that could have a significant impact on its financial position, reputation, strategy or any other area. Corporate Risk Catalogue: Group risk taxonomy corresponding to the material risks identified. Risk Appetite Framework (RAF): a comprehensive and forward-looking tool used by the Board of Directors to determine the types and thresholds it is willing to assume in achieving the Group's strategic objectives concerning all risks included in the Risk Taxonomy. Risk Assessment: a six-monthly self-assessment of the Group’s risk profile. |
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Risk culture: the Group’s risk culture is based, among other things, on general risk management principles, employee training and evaluation of variable remuneration of staff. |
For more information on Risk Management and its Governance and Control System, consult the section Committees of Directors (Risks) and, in Economic-financial information (Other), the page on Pillar 3 report.
