Risk Committee

The Risk Committee elects its chairperson from among its members but the chairperson of the Board of Directors of KELER CCP cannot act simultaneously as the chairperson of the Risk Committee and the chairperson is appointed from among the independent Board of Directors members. 

The Risk Committee has six members: the members are the representatives of the clearing members, the independent Board of Directors members and the customers of the Company. None of the groups of representatives can have majority in the Risk Committee. 

Tasks and responsibilities of the Risk Committee are as follows:

• advises the Board of Directors on any event that may impact the risk management of the Company in order to ensure the continuous, smooth and secure operation of the Company with particular regard to the considerable change of the following: 
  • the risk model,
  • the default procedures,
  • the criteria related to the acceptance of clearing members, 
  • clearing of new asset classes,
  • outsourcing any risk management responsibility.
• advises on the framework used to identify extreme but plausible market conditions, 
• provides opinion on the liquidity plan of the liquidity risk management framework,
• provides opinion on the testing of the framework related to the methodology on collaterals, default funds and other financial resources and on the policies on testing the framework related to the calculation of liquid financial resources,
• provides opinion on the valuation models,
• provides opinion on the collateral model, 
• provides opinion on the results of stress tests and reverse stress tests.

The Risk Committee reports directly to the Board of Directors, it has meetings quarterly.