EXIM BANK ENTERS INTO A STRATEGIC PARTNERSHIP TO BOOST ITS RISK MANAGEMENT EFFICIENCY

Exim Bank Head of Risk and Compliance Mr. David Lusala (centre) speaks with the journalists (not in picture) during a press conference to announce the bank’s strategic partnership with Hymans Robertson of London in collaboration with StraitsBridge Advisors (SBA) of Singapore for provision of Enterprise-Wide Risk Management (ERM) consultancy services. Looking on first right is Hymans Robertson representative Mr. Maurice Kilavuka and Hymans Robertson Seniour Consultant Mr. Laurent Chauvet (first left).

EXIM Bank has entered into a strategic partnership with StraitsBridge Advisors (SBA) of Singapore, a financial services firm for provision of Enterprise-Wide Risk Management (ERM) consultancy services that will see the bank boost its risk management efficiency.

Speaking during a press conference held at the Bank’s Headquarters in Dar es Salaam yesterday, Exim Bank Head of Risk and Compliance, Mr. David Lusala said, in order for Exim Bank to improve in the area of risk management it has signed a contract agreement with SBA which will collaborate with Hymans Robertson (H&R) of London to give the Bank a greater insight about the risks it faces and leverage on key opportunities in each business stream.

He said with over 92 years of experience in consulting services, Hymans Robertson in collaboration with SBA will help the bank improve its efficiency in the field of Enterprise-Wide Risk Management (ERM).

“ERM provides a framework for risk management, which typically involves identifying particular events or circumstances relevant to the bank’s objectives (risks and opportunities), assessing them in terms of likelihood and magnitude of impact, determining a response strategy and monitoring progress.

“By identifying and proactively addressing risks and opportunities, an effective ERM framework will protect and create value for owners, employees, customers and regulators,” said Mr. Lusala. He reiterated that, the future success of any bank will be determined and measured by its ability to effectively balance the risk associated with its business activities against the cost of risk mitigation controls.

“Accordingly, a prudent bank is expected to practice a structured and disciplined approach to ERM, including the development and application of a bank-wide risk profile to guide decision making of all strategic and non strategic issues. “ERM will ensure that the results of the bank’s efforts are not diminished through avoidable loss, or uncertainty,” he added.

On his part, Hymans and Robertson representative, Mr. Maurice Kilavuka said his company is delighted to have the opportunity to assist Exim Bank in its strategic journey to achieving excellence in Enterprise Risk Management.

“We are delighted for the opportunity to assist Exim Bank in its strategic journey of achieving excellence in Enterprise Risk Management. This association reflects Exim Bank’s understanding of the subject-matter and the expertise that is available at StraitsBridge & Hymans Robertson personnel. We will serve to lead the Bank on the path to establish world class ERM framework.

StraitsBridge Advisors along with our strategic partners, Hymans Robertson, brings a comprehensive suite of risk management practices including Market risk, Credit Risk, Operational Risk, ALM, Funds Transfer Pricing, Liquidity Risk, Capital Management & Planning, and Financial Management. This certainly will be the platform upon which the bank can build its integrated risk framework,” said Mr. Kilavuka.

Exim bank seeks to become one of the strongest regional banks with best international practices, and play a significant role in the international financial services sector. Sound risk and financial management practices will ensure the bank gets and remains at this highly competitive financial services industry.

“Exim Bank is proud to take the lead in this fast paced and dynamic banking environment. We would like to assure all our patrons that the bank continuously seeks to strengthen its banking and operating environment in order to ensure we serve our customers better, provide the best working environment to our employees, maximize our shareholders value, ensure professional and transparent relationships with our regulators and partners at all times, and as well as contributing positively to the economic growth of our country,’’ stressed Mr. Lusala.