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FBK GT About Bank of Russia’s New Risk Management Requirements

Date of publication
24.07.2020
FBK Grant Thornton has held a webinar titled “New Operational Risk Management Requirements of the Bank of Russia for Credit Institutions”.

Maya Savitskaya, a Manager of the Department of Assurance and Advisory to Financial Institutions, spoke about the Bank of Russia’s Resolution No. 176-P. She explained what can become an operational risk, how to manage it according to the regulator’s requirements and what is meant by the risk event database and the risk classifier.

Alexander Chernenko, the Head of FBK CyberSecurity, outlined responsibilities of the cybersecurity department, shared cyber risk management methods and described how internal document and reporting systems should be arranged.

Alexey Karpushkin, the Head of IT Audit at the Department of Assurance and Advisory to Financial Institutions, spoke about the preparation of information system policies in line with the Bank of Russia’s requirements. In addition, he talked about the requirements to those systems, their influence on the uninterrupted operations of a credit institution and underlined responsibilities of respective officials.

Recordings of all webinars are available in the Events section of our website where you can find materials useful for businesses during lockdown restrictions.