Risk Management & Strengthening Internal Controls in Banks
Introduction
A critical component of safe and sound bank management is constituted by an effective and efficient system of internal controls, which help to ensure that the goals and objectives of a bank will be met, that long-term profitability targets will be achieved, and maintain reliable financial and managerial reporting. Such a system can also ensure that the bank will comply with laws and regulations as well as policies, plans, internal rules and procedures, and decrease the risk of unexpected losses or damage to the bank’s reputation.
The course describes the essential elements of a sound internal control system and through a qualitative approach, it shows how is tied to the rules attaining capital requirements in the ever-changing business environment, encountering risk is inevitable. The ability to manage these increasingly significant risks now represents the difference between a thriving organisation and one that is struggling to deal with the challenges facing it.
Course Objectives:
- Ensure your organization has an effective balance between risk and internal control
- Explain to management the benefits of an enterprise –wide approach to risk and internal control
- Apply the different techniques for identifying and managing risks
- Ensure that preventative, detective and corrective controls are in place
- Link risk management and internal control into the business planning process
- Implement an effective fraud prevention process
- Promote a culture of integrity and ethics across the organization