Nedcor Limited - Wide Risk Management
NEDCOR ENTERPRISE-WIDE RISK MANAGEMENT
In line with international best practise, sound corporate governance
(including the Turnbull recommendations which are applicable to the Old
Mutual Plc) and the new Basle Capital Accord, Nedcor has embraced the
concept of Enterprise-wide Risk Management ("ERM"). The concept of ERM is a
consolidation of all risks affecting an organisation both at group level and
at subsidiary level and applying focussed management attention to these
risks.
Rene van Wyk has been appointed to head up this function for the Nedcor
Group and is responsible for formulating and establishing the appropriate
ERM framework for the Nedcor Group and its subsidiaries as well as strategic
alliances. As part of this function Group Treasury Risk Control, Credit
Risk Monitoring, Group Internal Audit and Group Compliance report to Rene as
from March 1, 2002.
The Nedcor Bank ERM function will also be the responsibility of Rene and
hence Corporate, International and Commercial Credit also report to him as
from March 1, 2002. As this is very much an evolving process it may be
appropriate to include other risk management/monitoring functions in the
future.
Rene will remain on the Board of Nedcor Investment Bank and will continue to
assist in its risk management function. In his new capacity as Divisional
Director, he reports to Stuart Morris the Nedcor Group Financial Director.
Ewald Muller
Investor Relations
Nedcor Limited
4th Floor, A Block, Nedcor Sandton, 135 Rivonia Road, Sandown, Johannesburg
P O Box 1144, Johannesburg, 2000
Tel.: +27 (0)11 294-9027
Fax: +27 (0)11 295-9027
Mobile: +27 (0)83 255-9595
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