We actively manage Board-approved risks in the pursuit of Noble’s strategic objectives by adhering to the following principles:
- Risks are taken within defined risk tolerance levels approved by the Board of Directors.
- Risks are approved by accountable officers within a risk management governance process and framework relating to risk and return that has been approved by the Board.
- Risks are monitored and managed regularly and reviewed by the Executive Management and Board Committees.
Noble has an independent Risk Department that ensures its general risk principles are upheld by the Chief Risk Officer who has a reporting line to both the Executive Management and the Board.
The Risk Department supports the commercial activities of Noble’s businesses while ensuring they produce sustainable returns within Noble’s Board-approved appetite for risk and loss.