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Risk Management

RISK MANAGEMENT DEPARTMENT
Atlantic Investment Financial Investment Company has a dedicated Risk Management Department which acts as the custodian of company risk architecture and its management within the prescribed policy limits. The Department is headed by a Director who reports directly to the Risk Management Committee of Company Board of Directors. Our Risk Management team is responsible for designing and implementing structures, processes and methods used in financial and non financial risk management with an aim to develop practical and applicable solutions that are compatible with our corporate risk statement and principles.

The principal aim of our risk management setup is to secure our financial strength while ensuring that capital is well deployed to support business activities and maximize shareholder value. The risk management architecture for Atlantic Investment comprises of a detailed risk charter including risk strategy and risk governance framework. Our key risk management committees, systems and procedures ensure that risks are managed within limits set in a transparent and timely manner. The main responsibilities of Risk Management Department include:
  • Implementing and maintaining appropriate risk management principles and policies, internal controls and processes designed to identify and address unacceptable risk as determined by the Committee.
  • Establishing an integrated risk management framework to measure and manage all aspects of risk. These risks include credit risks such as lending and counterparty exposures; market risks such as interest rate, foreign exchange, equity and commodity exposures; business risks such as volatility in volumes, margins, or costs; and operational risks ranging from day-to-day processing errors to fraud and other low probability but high severity events.
  • Ensuring that appropriate and effective risk management processes are in place within their designated area(s) and scope of responsibility.
  • Ensuring that all employees are made aware of the risks within their work environment and of their personal responsibilities.
  • Preparing specific Directorate/Departmental policies, procedures and guidelines to ensure all necessary risk assessments are carried out within their directorate/department in liaison with appropriate identified relevant advisors where necessary.
  • Implementing and monitoring any identified and appropriate risk management control measures within their designated area(s) and scope of responsibility.
  • Ensuring that all employees are given the necessary information and training to enable them to undertake effective risk management practices.
  • Reporting regularly pertinent information, including recommendations made, to the CEO and the Board of Directors that support the proactive management of risk.