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Risk Management
Operational Risk
Features
 

1. Comprehensive systems and procedures, internal control system and audit are used as primary means for managing Operational Risk. The Bank has in place a Board approved Operational Risk Management Policy based on Reserve Bank of India guidelines. All new products introduced by the Bank / changes in the existing products and processes pass through a Product Evaluation Process to identify and address operational risk issues. Operational loss data has been captured on a quarterly basis and mapped into 8 business lines and 7 loss events. The Bank’s income has been mapped into 8 business lines and the Bank is in readiness to migrate to The Standardized Approach (TSA). Bank is a founder member of CORDEx, an external data consortium established with an initiative of IBA.

2. As a good Corporate Governance measure, The Bank has formulated a Disclosure Policy to have greater transparency in its working. It has also developed a Business Continuity Plan (BCP) and implemented the same. BCP provides a blueprint detailing a wide range of responses under a disruptive environment to protect its staff, assets and interest of the customers. BCP contains steps to be adhered to both at the Preventive as well as Recovery phase when challenged with real life incidents.

 
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