YEREVAN, May 23. /ARKA/. Areximbank – Gazprombank Group pays special attention to operational risk management, the bank’s press service reported.
“Before, operational risks played a secondary role with the key role given to the “profile” credit risks”, says the report. Today operational risks imply the greatest financial and reputation risks, according to the report.
The operational risk management model introduced by the bank is similar to the one used in the parent Gazprombank and is in full compliance with the requirements of Basel Committee.
Several key instruments of operational risk management were introduced in financial organizations of the Gazprombank Group, among them the operational risk register where risks for each particular bank branch are input and analyzed. Another tool is collection of data about substantial (even not actualized) risk events and their consequences. The third tool is a system of key risk indicators for following up operational risk levels.
“Today the operational risk management methodology used by Areximbank – Gazprombank Group is in line with that applied in the parent bank and is one of the most up-to-date and the most efficient methodologies in the Armenia banking system”, says the report.–0—
