Therefore, risk management process should recognize and reflect risk interactions in all business activities as appropriate. This requires having a structure in place to look at risk interrelationships across the institution Risk Management Function: Risk management should be executed by a setup that supervises overall risk management in the bank’s operations. The set up could be in a form of risk manager, committee or department. All in all, the overall risk management function should be independent from those who take or accept risks on behalf of the institution. However, it is worth to be mentioned that risk management is not only restricted to individual(s) responsible for overall risk management function. Business lines are equally responsible for the risks they are taking. Risk Management Framework A risk management framework encompasses specifying; the scope of risks to be managed, the process/systems and procedures required to manage those risks, the roles and the responsibilities of individuals involved in the risk management process. The framework should be both comprehensive and flexible. Comprehensive to include all the potential risks and flexible to adjust accordingly to any changes in line of businesses or activities. Against this background, the main elements of an effective risk management framework can be listed as follows; (a) active board and senior management oversight; (b) adequate policies, procedures and limits; (c) adequate risk measurement, monitoring and management information systems; and (d) comprehensive internal controls. Integration of Risk Management Risks must not be viewed and assessed in isolation; the reason behind this is that one type of risk can trigger other risks.