Access Bank has again raised the ante in risk management as it has once more demonstrated its industry leadership by winning the inaugural edition of the Nigerian Risk Awards. The bank was judged the Overall Winner in the Banking and Investments Services category at the just concluded Nigerian Risk Awards ceremony.
The award, organized by Conrad Clark Nigeria in collaboration with Business Day and the UK Institute of Risk Management, was in recognition of the bank’s measurable results through the effective implementation of enterprise risk management principles.
The organisers noted that for the competing organisations, particular emphasis was placed on the development of creative and innovative solutions in overcoming the challenges facing business in Nigeria, and that these organisations must also have demonstrated commitment and effectiveness in their risk management processes. They concluded that indeed these qualities stood Access Bank out from the crowd.
The organisers stated that the objective of the award is to among other things inspire and reward individuals and companies practising good governance and leadership, and honour the outstanding risk professionals in the various sectors in Nigeria.
It equally seeks to promote risk management education and skills as part of the national transformation agenda as well as support continuing professional development and contribute towards raising the standards of enterprise risk management in Africa.
Speaking on the awards, the panel of judges, co-chaired by Dr. David Hillson, a globally celebrated scholar and Mr. Victor Odozi, former Deputy Governor of the Central Bank of Nigeria (CBN), stated that Access Bank was adjudged the winner after a rigorous and methodical evaluation procedure in which the judges looked at how risk management enabled the banks not just to survive, but to thrive.
It will be recalled that this is coming barely a year after its emergence as the first Nigerian and indeed only Bank in West Africa to obtain the Payment Card Industry Data Security Standard Certification, (PCIDSS).
The bank has also since been awarded the ISO 27001, a global standard for information security management, for efficiency of its security management process.
This is on top of already achieving rating upgrades by international risk rating agencies such as Standard & Poor’s, and Agusto & Co. The attainment of this standard is yet another testament to the Bank’s reputation as a benchmark for best practice and innovation in the Nigerian and African financial services landscape.