Ahlibank hosts first ROC meeting

01/03/2015 07:38 AST

Ahlibank hosted the first meeting of the Risk Officers Committee (ROC) in 2015 at the Grand Hyatt Hotel recently. The Banking sector in Oman formed the ROC in 2011 comprising Chief Risk Officers of local as well as foreign banks operating in the country, with a view to facilitate the exchange of knowledge and keep abreast with the latest developments in the ever-evolving field of risk management.

The committee meets every quarter and discusses topics ranging from operational risk, credit risk, liquidity risk, market risk and business continuity management. External consultants, as well as members make presentations in various risk management areas on the latest happenings in risk, and each aspect of risk management is discussed and deliberated thoroughly in the ROC meetings.

“The ROC has been established with the aim to create a platform to bring together Chief Risk Officers of the major banks in Oman. We understand that effective risk management is the foundation for a robust banking system, and are pleased to host the ROC’s meetings this year”, said Lloyd Maddock, CEO of Ahlibank, on the sidelines of the meeting.

The ROC’s meeting came to a close with the forum’s participants thanking Ahlibank for hosting the first meeting of this year, and acknowledging that the meeting’s deliberations will be beneficial to all. The meeting also provided an opportunity to discuss risk management issues with the regulator, whose representatives are invitees to the meeting, in an informal setting.

Oman Daily Observer