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Introduction
In volatile environment maintenance of stable Bank`s activity requires building of a modern, effective system of risk management. Effective risk management is based not only on highly qualified team of risk managers, but also supplemented by strong risk culture of every bank officer.
Formation of consciousness is a long process. Currently there is a set of preconditions within the Bank for subsequent development of risk culture and functioning of effective system of risk management:
- Absolute support of actions in the sphere of risk management from the Bank`s management
- High professional level of personnel
- Permanent monitoring of risk level and results of current management arrangements
- Existence of feedback between Risk Management and employees of other Bank divisions
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| Over 2007 risk management structure, policy and processes of the Bank were reconsidered, and currently they habe been actively improved and reformed. Introduced standards ensure consistency of risk management processes that include the following stages: identification, assessment, monitoring, control, minimization of risks, as well as analysis of effectiveness of risk management processes. |
Risks that the Bank manages may be divided into the following categories:
- Credit risk
- Liquidity risk
- Market risk
- Operational risk
- Reputational risk
- Strategic risk
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