Prospectus - Notowania

• the introduction, within the new department, of four units specialised in the
Markets Risk Portfolio, the Treasury Risk Portfolio, the Liquidity Risk Portfolio
and the Balance Sheet Risk Portfolio.
• the formation of unitary supervision measures for the architecture and
methodologies of the Market Risk portfolio including responsibilities regarding
Risk Technologies, Risk Methods, Model Testing and Group-wide New Products
Process, but excluding Front Office Risk Modelling;
• the consistent reallocation of responsibilities between UniCredit and Group
companies;
• the maintenance of the overall responsibility of the CRO over Group market risks
and over the market and credit risks of the Corporate & Investment Banking and
Private Banking Strategic Business Area, through the directing and monitoring
activities to be carried out also in the Group Risk Committee (competent body for
the approval/sharing of Market & Balance Sheet Risk Portfolio Management
proposals regarding risk strategies, policies, models and limits as well as
monitoring activities/initiatives), of which the CRO is a member.
In addition, UniCredit proposes investment limits and policies for the UniCredit
Group and for its entities in harmony with the capital allocation process during
preparation of the annual budget.
Finally, UniCredit’s Asset and Liability Management unit, in coordination with the
other regional liquidity centres, with the Liquidity Portfolio Manager and the
Transactional Risk Officer, perform strategic and operational Asset and Liability
Management, with the objective of ensuring the equilibrium of capital structures and
the economic and financial sustainability of the UniCredit Group’s growth policies in
the loan market, by optimising the Group's exchange rate, interest rate and liquidity
risk profile.
6.11.3. Operational risks
Organisational and reporting structure
The Operational and Reputational Risks Portfolio Management department, within the
domain of the Strategic Risk Management & Control department, defines the model of
calculation of the UniCredit Group’s operational risk capital and the guidelines for
control of operational risks. Said department also has a role involving support and
control in respect of the Operational Risk Management functions of UniCredit Group
companies, in order to verify compliance with the Group standards in implementation
of the processes and control methodologies. A reporting system has been developed
by the Issuer to keep top management and internal control bodies informed on the
UniCredit Group’s exposure to operational risks and the actions undertaken to
mitigate them.
Risk management consists of the review of processes for the reduction of the risks
identified, with the possibility of outsourcing certain activities, and the management of
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