The Road to the SDGs

change management, quality control and commercial considerations. X To ensure smooth implementation of the ERM programme, IsDB has operationalised a detailed project governance structure with several delivery streams and defined roles and responsibilities for each of the participants across various stakeholders under the supervision of a high-level steering committee. ACHIEVEMENTS X The ERM programme is at an early stage of implementation. Upon completion, it will deliver an integrated risk and finance DataMart along with advanced Asset Liability Management, capital management and a financial projection system and analytics. X Milestones achieved so far include the following: – Finalisation of technical scope and signing of contracts with the selected vendor – Establishment of the ERM project governance, comprising steering committee, project director, project management office and project teams – Automation of IsDB’s internal rating models – Development of customised Loss Given Default models, the methodology of which was also presented to the Global Emerging Market Risk Data Consortium, an initiative of the of the leading MDBs – Implementation of IFRS9/FAS30. INVESTMENT X In order to ensure that adequate investment is made for this crucial initiative, the BED and management have made available the required budget and resources. Once the solution is implemented, the potential return is expected to far outweigh the underlying costs. I S D B R I S K M A N A G E M E N T R O A D M A P Balance sheet management Liquidity risk Capital adequacy management Financial projections Enterprise-wide stress testing [ 201 ] T H E R O A D T O T H E S D G s | P R O G R E S S A N D A C H I E V E M E N T S