Compliance
The Board of Directors has the overall responsibility for the Group's compliance status with applicable regulations. As the Group is impacted by a vast number of regulations, an independent compliance function has the task of following up compliance status across the Group.
Group Compliance is responsible for providing assurance to the Board and CEO that the Group is effectively managing compliance risks, considering the risk appetite statements set by the Board of Directors in the Policy for Enterprise Risk Management.
The Chief Compliance Officer reports directly to the CEO and is a member of the Group Executive Committee.
Key activities for Group Compliance
- Proposing minimum compliance standards across the Group.
- Performing control activities to assure that there are adequate and effective compliance risk management processes in place.
- Providing proactive compliance advice and support.