About us
Risk Management & Business Control
Risk management
Nexent Bank NV has a centralized risk-management structure, which includes:
- central policies applicable to the whole group;
- a clear division of tasks and responsibilities;
- clear reporting lines; and,
- control measures at group and local level.
Our dedication to improving end-to-end risk-management framework is based on the following drivers: ensuring the Bank’s rapid and solid growth, meeting the increasing number of regulations on risk management, keeping pace with the ever-changing nature of risk management and, most importantly, our desire to enhance our risk-management capabilities beyond regulatory requirements. The Internal Capital Adequacy Assessment Process (ICAAP) forms the core of Nexent Bank's risk-management framework, under which all material risks are assessed and the Bank’s capital adequacy as well as its entire risk-management structure is tested. Nexent Bank aims to provide market participants with information allowing a better assessment of its risk profile and capital adequacy. Pillar 3 information - complimentary to the publicly available financial reports - is also available as a separate publication under the tab 'Financials' on this website.
Compliance
The Managing Board and all other staff of Nexent Bank N.V. including its branches, liaison offices and subsidiaries (hereinafter collectively ‘Nexent Bank’) endeavour to maintain a company culture and business strategy whereby Nexent Bank’s core values and standards of professional conduct are maintained at every business level and within all its activities. These standards include national, international and European legislation, regulations issued by the relevant local (supervisory) authorities, generally accepted business standards and Nexent Bank’s own internal regulations (including ethical standards) . Nexent Bank will not accept nor condone activities or behavior that will or might in any way conflict with any of its core values and standards. As such, Nexent Bank is committed to fighting any fraudulent activity as well as fostering a culture in which corruption is never considered acceptable.
The Managing Board has adopted a Compliance Charter (pdf) and validated several compliance policies on specific topics with the sole purpose of embedding the integrity principles of Nexent Bank in all levels and structures of its organization.
Internal Audit Department
Nexent Bank NV’s Internal Audit Department (IAD) plays an important role in ensuring ever-better governance at the Bank level. It represents an independent and objective assurance and consulting function as a third line of defense. Through the application of a risk-based methodology, IAD evaluates and examines whether proper measures are taken to ensure ‘control’ in the organization and its activities.
Audit & Risk Committee (ARC)
Nexent Bank NV has established an Audit & Risk Committee (ARC) being an advising body towards the Supervisory Board. The ARC has an oversight role on the functioning of the internal and external auditors. Besides that the ARC has a strong focus on the following important matters: the risk management activities of the Bank and the internal control systems; the quality and integrity of the financial information of the Bank and Compliance with laws and regulations.
