Controlling risks
The objective of operational risk is to ensure the safety of BNP Paribas Real Estate’s operations by implementing effective mechanisms for identification, assessment and quantification, monitoring, control, reporting and taking actions aimed at reducing operational risk. Such measures take into account the structures, processes, resources and scopes of responsibilities for the processes at various organizational levels within BNP Paribas Real Estate. The risk management department controls risks by implementing the following aspects:
- Develop a risk map
- Define a control plan
- Track incidents and mitigate the risk of recurrence
DEVELOP A RISK MAP
DEFINE A CONTROL PLAN
Track incidents and mitigate the risk of recurrence
The operational risk management process
Implemented through three lines of defense model
1st line of control
The first line of control, OPC (Operational Permanent Control), is aimed to monitor the proper implementation of risk management plans at the level of each line of business.
This continuous monitoring enables BNP Paribas Real Estate Netherlands to react immediately and make the necessary corrections to each of our actions. In addition, it feeds into our prevention policy, which is based on the identification and assessment of operational risk through the collection of information on operational events, the assessment of risks in processes and products and the determination of key risk indicators, with the aim to apply specific, immediate and long-term solutions.
2nd line of control
BNP Paribas Real Estate's Risk Management Department, which is totally independent of the lines of business, centralizes the risk function. Its experienced teams support the progression of each activity in accordance with the Group's risk policy.
The Risk Management Department carries out second-level controls, both on the business lines and on the central functions, independently of the business lines, functions and the first line of control.
3rd line of control
This line of control is performed by the General Inspection Unit of the BNP Paribas Group. Regular monitoring of specific business lines and activities enables BNP Paribas Real Estate Netherlands to improve the procedures through detailed recommendations.
This permanent risk monitoring is the final link in the control chain and forms part of a continuous improvement process.
Management of personal data
The protection of personal data is a subject of particular attention within the BNP Paribas Group. We make every effort to guarantee you the highest level of security and confidentiality.
In order to meet your expectations, questions and preferences as closely as possible, we have developed a website dedicated entirely to personal data. Here you can find:
- Our confidentiality charter on the processing of personal data
- A notice on the protection of personal data.
Among other things, this notice specifies:
- The type of data we collect
- The purpose for which we collect it
- Who we may disclose it to
- How long we keep it
- What your rights are and how to exercise them
- How you can find out what data is stored by us
- How to contact us with any questions relating to your personal data.
- The objective is to ensure that you retain control of your personal data.
It is BNP Paribas Real Estate’s goal to reduce operational risk through improvement of its internal processes as well as mitigating the risk inherent in the process of launching new products and services and outsourcing operations to third parties.
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