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Act as a responsible financial institution
Honouring the promise made to clients
2.2.3.2
Risk management
Limiting risks and honouring its obligations are basic to the
relationship of trust that Amundi has with its clients.
Investments are audited by staff who are independent of fund
management personnel. Auditing is part of Amundi’s Steering
and Control Department, whose main mission is to protect the
client’s interest. Its role is to ensure, through a dedicated information
system, that the investment constraints requested by clients or
required by regulations are observed.
To keep the value creation chain secure, Amundi has established
a risk function that is independent and globally integrated. This
organisation, deployed in all Group entities, guarantees investors
that we will meet our obligations, be they contractual or regulatory.
Risk control personnel install and monitor an internal system to
regulate management processes, in three phases:
p
devising, in systematic fashion, internal control rules and
regulations specific to each investment strategy, based on
a preliminary identification of the risk factors that underlie
performance;
p
overseeing on a daily basis the management actions taken, to
check that the investment decisions and the positions in the
portfolios are in keeping with the management rules and the
objectives sought;
p
evaluating ex post the quality of the management processes,
based on independent measurements made using proven
methodologies.
To ensure the principle of fiduciary duty, Amundi prepares and
sends two documents to its clients, the prospectus and the KID
(Key Information Document), describing the conditions on which the
fund is managed, as well as the relationship between yield and the
level of risk associated with such management. Several indicators
reflecting the risk level of funds are included in these documents.
The are calculated independently by the Risk Department.
In 2015 continued improvement was made to the system for
regulating funds in order to make investing activities on our clients’
behalf more secure. This work focused on the following points:
p
using more effective indicators to measure funds’ liquidity;
p
validation by an outside audit of the calculation of market risks,
this being the subject of a multi-year project that concluded in
mid-2015.
Headcount at 31/12/2015 (in FTE)
Compliance
Business line
57
Risk Management
Business line
168.1
Audit
Business line
21.5
As % of total headcount
8%
AMUNDI
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2015 CORPORATE SOCIAL RESPONSIBILITY REPORT
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