As per our procedure on implementing our risk appetite policy, the first line of defense units are responsible for implementing activities in line with the relevant risk appetite policy and related risk limits in their respective areas, and for taking appropriate action where necessary. The procedure also states that the second line of defense units are responsible for regular monitoring of risk appetite within each type of risk.
The risk appetite statement and its related risk limits along with other important risk topics are reported through the Integrated Risk Report to the executive management level Risk Management Committee. Additionally, risk appetite implementation is reported to the Board Risk Management Committee on a quarterly basis.