Operational risk is the risk of financial losses or damaged reputation due to failure attributable to technology, employees, procedures or physical arrangements including external events and legal risks.
NIB's operational risk management focuses on proactive measures in order to ensure business continuity and the accuracy of information used internally and reported externally. Furthermore, the aim is to ensure the expertise and integrity of the Bank's personnel and the staff's adherence to established rules and procedures. The operational risk management also focuses on security arrangements to protect the physical infrastructure of the Bank. The Bank attempts to mitigate operational risks by following strict rules for the assignment of duties and responsibilities among and within the business and support functions and by following a system of internal control and supervision. The main principle for organising work flows is to segregate business-generating functions from recording and monitoring functions. An important factor in operational risk mitigation is also the continuous development and upgrading of strategic information and communication systems.
A seven-year maturity loan agreement to finance Husqvarna AB's R&D investments 2017–2019.
5 Jan 2018
The Bank's five-year NZD 400 million transaction has become inaugural in the New Zealand bond market this year.
5 Jan 2018
A loan to the Swedish telecom company Ericsson will finance a research programme for the development of 5G mobile technology.
22 Dec 2017