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Risk Management at LLB Group: A Comprehensive Approach
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The LLB Group, a financial institution, has implemented robust risk management strategies to mitigate potential threats and ensure the stability of its operations. This article highlights key aspects of their approach, including lending practices, regulatory compliance, anti-money laundering measures, cyber security, internal control systems, business continuity management, and employee conduct.
Key Risk Management Strategies
The LLB Group has adopted a comprehensive risk management framework that encompasses various areas, including:
Lending Practices
- Loans secured by mortgages account for 89.2% of total loans.
- Credit competences are assigned based on decision-makers’ knowledge and experience, ensuring independent assessment of risks.
Risk-Conscious Credit Policy
The LLB Group pursues a risk-conscious credit policy that includes:
- Differentiated loan evaluations
- Conservative collateral value assessments
- Individual affordability calculations
- Compliance with standard equity requirements
Regulatory Compliance
The company adheres to guidelines on assessing, evaluating, and processing mortgage secured loans, as well as EU guidelines on loan origination and monitoring.
Anti-Money Laundering Measures
A strict, IT-supported process is in place for establishing new or monitoring existing business relationships.
Cyber Security Measures
Robust processes and advanced systems protect data from cyber threats. Specialists continually analyze new threats and develop defensive measures accordingly.
Internal Control System
The ICS monitors risks in relevant business processes through effective control processes, contributing to increased risk transparency within the company.
Conclusion
The LLB Group’s approach to managing risks is comprehensive, with a focus on maintaining the highest standards of integrity, security, and compliance. Their robust risk management framework ensures that potential threats are identified and mitigated, providing stability and confidence in their operations.