The risks faced by banks cover a wide range of different aspects, including credit risk linked to financing activities, or operational risk. These risks may become more pronounced in challenging economic contexts.
Managing and controlling risks are among BNP Paribas’ key priorities. This focus not only ensures that the Group can meet its obligations to its customers but also ensures that it complies with the regulations in force.
The significant growth of the Group in recent years has highlighted the need to maintain a risk culture that is shared by all of the Group’s entities.
In May 2010 BNP Paribas launched an initiative across the whole Group called the Risk Academy. This initiative adopts a progressive and participatory approach, involving all business lines and functions.
The Risk Academy has the following objectives:
- To drive the on-going strengthening and dissemination of the risk culture within the Group
- To promote training and professional development in the area of risk
- To lead communities of practice focusing on risk management, with the aim of improving skills, facilitating the exchange of information and sharing knowledge
An initiative at the service of BNP Paribas’ employees
Because risk management is part of the daily working lives of all employees, a number of products and services have been specifically developed to assist them. Their aim is to raise employee awareness of the challenges of risk management, to guide them in their business activities and to facilitate the sharing of knowledge among all employees.
- The “Core Risk Practices” advocate sound risk management
- Training programmes in risk are indexed by risk category
- An online library facilitates access to knowledge about risks through the sharing of reference documents and supporting materials for internal presentations
- Regular conferences and seminars enhance the dissemination of the Group’s risk management culture and facilitate the exchange of experiences