Risk management and audit

In 2009, the definition of the risk appetite was drawn up. The risk appetite of Van Lanschot was approved by the Supervisory Board in 2010.

The relevant process was defined in February 2010 and the related reporting procedures were developed (the risk appetite dashboard). Since the second quarter of 2010, the Board of Managing Directors has reviewed the risk appetite each quarter. The Supervisory Board tests the risk appetite of Van Lanschot every six months and, once a year, the assumptions are restated in a joint effort with the Board of Managing Directors.

Articles 4.1 to 4.4 of the Banking Code mainly address risk policy and risk appetite. The following document further details how Van Lanschot puts these principles of the Code into practice.