Risk-taking and the risk management systems of Danske Bank A/S meet the requirements of Chapter 9 of the Act on Credit Institutions.
The Board’s Risk Committee assists the Board in matters concerning the Bank’s risk strategy and risk-taking and in supervising compliance by the Bank’s operating management with the risk strategy approved by the Board. The composition and working of the Board’s Risk Committee has been organised in compliance with Chapter 9, section 4, of the Act on Credit Institutions.
It is the duty of the Board’s Audit Committee to assist the Board in monitoring and supervising the effectiveness of the bank’s financial reporting system, internal control and audit, and risk management systems, and auditing and the independence and election of auditors, and in preparations involving these. The composition and working of the Bank’s Audit Committee has been organised in compliance with Chapter 9, section 5, of the Act on Credit Institutions.
Danske Bank A/S has a risk monitoring function, a compliance function and an internal audit function that are independent of the Bank’s business operations. The position of the head of the risk monitoring function is full-time.