Enterprise Risk Management
What is Enterprise Risk Management? ERM is a cutting edge risk practice that supports the achievement of the Bank’s strategic objectives by identifying and managing business, operational, financial and systematic risks, which may impact the Bank’s stakeholders.
Governed by the strength of our Credit Administration, Enterprise Risk Management, Regulatory Compliance and Underwriting divisions, ERM is more than a collection of policies, procedures, limits, and models. Effective ERM requires a strong risk culture. Risk culture is the system of values and behaviors within an organization that shape day-to-day decisions. This is a continuous process that builds upon our 5 core principles and is based on a common understanding that managing risk is everyone's responsibility. This creates an environment that encourages the open exchange of ideas, willingness to elevate concerns, and a commitment to "doing the right thing." A risk culture is a critical element of the Bank’s risk management efforts.
How is the Bank regulated?
Peapack-Gladstone Bank is routinely and thoroughly examined by Federal and State regulators, who focus on performance, safety and soundness, risk management and compliance with laws and regulations. To help ensure safety and soundness, Peapack-Gladstone Bank has built an enterprise risk management program, which employs Bank-wide risk assessments, sophisticated risk management procedures, and strong systems of best practices checks and balances.