Operational Risk

Group Caixa Geral de Depósitos

The management of operational risk in CGD is supported on a set of guidelines, methodologies and regulations recognised as good practice.

The management of operational risk in CGD Group is based on a series of guidelines, methodologies and regulations recognised as “good practice”:

Operational risk management principles and approaches deriving from the Basel II Accord;
Internal control methodologies proposed by COSO (Committee of Sponsoring Organizations of the Treadway Commission) and defined in the sphere of the CobiT Framework (Control Objectives for Information and Related Technology);
Approach underpinning the Risk Assessment Model implemented by the Bank of Portugal.

CGD Group has adopted an end-to-end operational risk management methodology, having obtained the Bank of Portugal’s approval to adopt the standard TSA method for own funds calculation requirements, for operational risk hedging purposes on a consolidated basis, effective from and including 30 June 2009. This calculation method also includes, on a separate basis, Caixa Banco de Investimento, Caixa Leasing e Factoring and Caixagest which will be subject to the eligibility criteria applicable to the referred to method.

The South African Reserve Bank has also formally approved the use of this method in Mercantile Bank (South Africa). In the case of the Group’s other institutions abroad, the assessment of own funds requirements for operational risk hedging purposes, on a separate basis, is determined in accordance with the basic indicator method.

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