NBF’s dedicated Compliance team meets the highest standards to protect the bank, our shareholders and our clients. Read our Compliance Risk Appetite Statement here.

NBF’s risk management philosophy is focused on embedding a “Three Lines of Defence” model.  Key attributes to the model include:

Focus on customers and our long term strategy

Effective risk management is more than just a robust framework with supporting policies, processes and controls.  NBF’s risk culture, which is less tangible, is equally important and all staff respect the need to adhere to the Banks values.  NBF’s businesses are customer focused, placing an emphasis on building premium customer orientated, sustainable longer term relationships.

Ownership of risk at the business level

Business units (front line and support functions) are ultimately responsible for identifying risks within their respective business areas and ensuring that they are managed appropriately.

Understanding worst case outcomes

Understanding the consequences of worst case scenarios which may impact NBF and determine whether the risk can be tolerated. This is achieved by undertaking periodic stress testing and control assessments of certain risk systems and management being aware to the emerging risks which could influence NBF’s risk profile

Risk management independence

NBF places an importance on having a strong independent risk and compliance function. The Chief Risk Officer has unfettered access to the Board and subcommittees and reports directly to NBF’s Chief Executive Officer.

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