Barclays Africa Group Limited: Risk Management Strategy 2015
Current approach:
Risk management at Barclays is directed and overseen by the Independent Risk Management function. The function’s primary roles are to define the level of risk taking for the Group in normal and stressed economic conditions and to oversee that business activities are undertaken to be consistent with these levels.
The risk appetite is designed to measure not only the current exposures but also the amount of market volatility and stress the firm can handle withstand, while still meeting its financial goals and regulatory requirements. This enables the Risk function to set, monitor and enforce appropriate risk limits.
All colleagues within the business have a specific …show more content…
MMI Holdings: Investment Solutions Centre of Excellence (ISCOE)
The MMI strategy falls short of the following when compared with the Barclays strategy:
- The majority of employees are not actively participating in risk management or have any relationship with the Risk Management team.
- The MMI 2.0 strategy is unclear and open to interpretation. No clear key outcomes and measures of how to succeed have been set out in the strategy. It has been poorly communicated with only top management understanding what the goal is whereas the rest of the business as no guideline as to how to implement this.
- Employees are not able to identify risks within their own processes and procedures due to lack of adequate training. In most instances, employees also do not have an understanding of how their day to day work impacts other areas of understand the technicalities of their day to day processes; as such they are not able to provide meaningful input to contribute to the overall improvement of business.
- Employees are disengaged whereas Barclays actively focusses on the engagement and enablement of
Current approach:
Risk management at Barclays is directed and overseen by the Independent Risk Management function. The function’s primary roles are to define the level of risk taking for the Group in normal and stressed economic conditions and to oversee that business activities are undertaken to be consistent with these levels.
The risk appetite is designed to measure not only the current exposures but also the amount of market volatility and stress the firm can handle withstand, while still meeting its financial goals and regulatory requirements. This enables the Risk function to set, monitor and enforce appropriate risk limits.
All colleagues within the business have a specific …show more content…
MMI Holdings: Investment Solutions Centre of Excellence (ISCOE)
The MMI strategy falls short of the following when compared with the Barclays strategy:
- The majority of employees are not actively participating in risk management or have any relationship with the Risk Management team.
- The MMI 2.0 strategy is unclear and open to interpretation. No clear key outcomes and measures of how to succeed have been set out in the strategy. It has been poorly communicated with only top management understanding what the goal is whereas the rest of the business as no guideline as to how to implement this.
- Employees are not able to identify risks within their own processes and procedures due to lack of adequate training. In most instances, employees also do not have an understanding of how their day to day work impacts other areas of understand the technicalities of their day to day processes; as such they are not able to provide meaningful input to contribute to the overall improvement of business.
- Employees are disengaged whereas Barclays actively focusses on the engagement and enablement of