Operational Risks and Business Processes Department 

The Risk Committee carries out activities to minimize the risks of the National Bank's activities by coordinating the work of structural units in identifying, assessing and limiting the risks inherent in the activities of the National Bank.  

The Risk Committee consists of a member of the Board of the National Bank, who is the Chairman of the Committee and six heads of structural units of the National Bank. The membership of the Risk Committee is approved by the order of the Chairman of the National Bank.  

The activity of the Risk Committee, in accordance with its main functions and tasks, is to consider issues of risk management in the National Bank in order to develop recommendations and proposals for optimizing the risk management process. 

During 2020, the Committee held 3 meetings. On a semi-annual basis, the Committee analyzed the results of the self-assessment of operational risks of the structural units of the National Bank, taking into account the impact of restrictive measures related to the spread of coronavirus infection COVID-19. The results of the analysis indicate that the operational risks were within acceptable limits. 

Also, in accordance with the Risk Management Policy of the National Bank and taking into account international standards and advanced risk management concepts (ISO 31000 Risk Management, COSO Organizational Risk Management), the focus was on the issues of further improving the methodology for managing operational risks and approaches to forming the composition of the Committee.