Combined The above Investment Audit Quarterly Liquidity liquidity function Committee Reporting information will be combined. The Head of Investment will be responsible for presenting the information to Risk Committee, and will provide commentary on the adequacy of the liquidity profile. Any breaches that have occurred during the period will also be reported. Stress testing Stress testing RM Audit Annually and scenario and scenario Committee analysis analysis will be conducted on an annual basis and the results reported to the Audit Committee. 6. Market Risk Market risk appetite A takaful company’s Market Risk appetite is defined by the Audit Committee and approved by the Governing Body. The Market Risk appetite is demonstrated through the establishment of limit structures that take into account Market Risk concentrations, and the capital requirements that would be required as a result of
Combined Liquidity Reporting The above liquidity information will be combined. The Head of Investment will be responsible for presenting the information to Risk Committee, and will provide commentary on the adequacy of the liquidity profile. Any breaches that have occurred during the period will also be reported. Investment function Audit Committee Quarterly Stress testing and scenario analysis Stress testing and scenario analysis will be conducted on an annual basis and the results reported to the Audit Committee. RM Audit Committee Annually 6. Market Risk Market risk appetite A takaful company’s Market Risk appetite is defined by the Audit Committee and approved by the Governing Body. The Market Risk appetite is demonstrated through the establishment of limit structures that take into account Market Risk concentrations, and the capital requirements that would be required as a result of
21)%2090%20pgs%20Principles%20of%20Risk%20Management%20for%20Takaful%20Policies%20&%20Procedures.docx