ØThe management body
and senior management should be responsible for setting the bank's risk
appetite and risk tolerance at a level, which is commensurate with its sound
operation and the strategic goals of the bank.
ØSenior management
should be responsible for risk management on a day-to -day basis because of
the volatile nature of economy, risk measurement should be regularly reviewed
and scrutinized against the NRB's strategic goals, risk appetite and risk
tolerance.