Risk management is one of the most important part of Unibank’s management. Risk management in Unibank specifies a complex system of interrelated activities which is directed to prevent and minimize potential losses of Bank. The main goal of Risk management of Unibank is to enable the Bank to maintain the aggregate value of risks at the level of risks set by the strategic plan of the Bank and to maximize its return on capital.
Principles of Risk Management
Risk Management of Unibank is based on the documents of Committee on Banking Supervision of the Bank for international Settlements (Basel Committee on Banking Supervision), Generally Accepted Risk Principles (GARP), on laws and normative acts of RA and CB of RA, based on principle of breaking-even and directed to maintenance of the optimal relations between banking profitability and the level of risks. Risk is managed through a process of ongoing identification, measurement and monitoring, subject to risk limits and other controls. This process of risk management is critical to the Bank’s continuing profitability and each individual within the Bank is accountable for the risk exposures relating to his responsibilities.
The ultimate goal of the Bank in relation to the Risk Management is preservation of Bank’s capital and assets on the high level by minimizing risks.
The aim of Risk management of Unibank is to enable the Bank to maintenance the aggregate value of risks at the level of risks set by the strategic plan of the Bank and to maximize its return on capital.
To identify and manage risks of the Bank is part of duties of the Bank’s staff, and the Risk Management Directorate is responsible for implementation of risk procedures and control over risk management principles, policy and the Bank’s risk limits.
The Bank fosters a culture that increases the level of Risk Management related knowledge across the bank, in particular relevant seminars are organized.