The Board of Directors has overall responsibility for the establishment and oversight of the Company’s risk management framework. The Risk Management policies have been developed to identify and analyze risks faced by the Company, set appropriate risks limits and controls, and monitor risks and adherence to limits.

Risk Management policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities. The Company, through its training and management standards and procedures, has a disciplined and constructive control environment in which all its employees understand their roles and obligations.