Risk Management

The main function of the Risk Management Committee (hereinafter referred to as RMC) is to assist the Board in risk managing. The composition of the RMC is formed at the expense of the members of the Board and the head of the Risk Management Department.

The Committee is headed by the Chairman of the Board. In order to manage risks, the RMC coordinates the activity of the internal committees of the Bank. The meetings of the Committee are held at least once a quarter, reporting to the Supervisory Board in the appropriate order.

Core functions and powers of RMC:

  • To develop risk management rules and, upon their approval by the Board, submit them to the Supervisory Board for approval;
  • To assess periodically risk management rules and perform updates when necessary;
  • To give recommendations on making changes to the Bank organizational structure or specific authorities in order to strengthen risk management;
  • To give recommendations to the Board and report to the Supervisory Board on the implementation of these recommendations by the Board in order to strengthen risk management.

To ensure daily operational support for the RMC, the Risk Management Department was established. The main requirements for the Risk Management Department from the RMC are determined by the specifics of the Bank activity. The Risk Management Department is an independent structural division of the Bank. The official powers of these units are confirmed by the relevant Regulations.

Along with this body, the Asset and Liability Management Committee, the Audit Committee and the IT Committee make decisions on strategic issues related to minimizing risks. The Liability and Assets Management Committee makes decisions on managing and approving the allocation of the Bank financial resources. The main function of the Credit Committee is to assist the Board in managing the loan portfolio.

The Audit Committee assists the Supervisory Board and the Board in ensuring the availability and adequacy of risk control systems. IT Committee discusses decisions aimed at ensuring the effective and safe operation of information technologies and systems of the Bank as a whole.

4.03.2019

Nikoil Bank fiziki şəxslərin problemli kreditlərinin həlli...

Vətəndaşların sosial müdafiəsi və layiqli həyat səviyyəsini təmin...

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19.03.2019
19.03.2019
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19.03.2019 Buying Sales
USD 1.6980 1.7020
EUR 1.9000 1.9450
RUB 0.0255 0.0266
GBP 2.1800 2.2850

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