The RCC is tasked with supporting the Board in overseeing and ensuring that the Bank's organisation is managed in such a way that all risks inherent in the Group's business are identified, defined, measured, monitored and controlled in accordance with the Board's risk tolerance statement as well as with external and internal rules.
The RCC also monitors the Group's risk and capital situation on a continuous basis.
The RCC sets the principles and parameters for measuring and allocating risk and capital within the Group and oversees risk management systems and the risk tolerance and the strategy for near and long term, as well as implementation of this strategy. The Committee prepares, for decision by the Board, a recommendation for the appointment and dismissal of the CRO. The Committee also decides on individual credit matters of major importance or of importance as to principles.
The RCC held 21 meetings in 2016.
The Group's Chief Financial Officer (CFO) has overall responsibility for informing and making proposals to the RCC on matters related to capital and funding. The CRO has the same overall responsibility regarding risk and credit matters.