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Risk Office

The Risk Office (RO) is responsible for risk monitoring and control and is an independent function with the RO Head reporting directly to the CEO. Its roles and responsibilities are to evaluate annual risk budgets and provide recommendations to the ERC, daily monitoring and risk control, perform risk reviews of business units and countries, improve risk methodologies, evaluate and approve risk limit requests during the year, perform periodic stress testing and scenario analyses, liaise with the BRC and ERC periodically, and oversee the functioning of the Middle Office, responsible for the daily reconciliation of all derivative hedging positions taken by our business units with banks and brokers.