Sterling Bank Awarded for Efficiency in Risk Management

Sterling Bank Plc, one of the leading and commercial banks in Nigeria, has been honored for its efficiency and consistency in managing risks in the Banking and Investment Services category of the prestigious Nigeria Risk Award (NRA). The award, organized by Conrads Clark Nigeria (CCN) Limited, a United Kingdom-affiliated institution in conjunction with Institute of Risk Management UK, was set up to reward organisations with impressive Enterprise Risk Management practices in Nigeria. The umpire asserted that Sterling Bank was honored with the award based on its upscale risk management practice. This, according to the institution, has led to significant contribution to the entrenchment of a risk management culture within the bank and a commitment to a sound, safe and stable financial institution. The lender said it was issued the Payment Card Industry Data Security Standard (PCIDSS) certification on February 8, 2013. According to the Qualified Security Assessor (QSA), Sterling Bank remains the only bank that has achieved the fastest turnaround time between the project commencement and obtaining certification. This, according to the statement, is achieved within a remarkable six-month period. “This certification attests to the security of card-related transactions of Sterling Bank as one of the safest in the banking industry,” the statement noted. According to Joachim Adebayo Adenusi, Managing Director, CCN, the medal process was very rigorous, transparent and professionally handled by eminent risk managers selected from different parts of the world.