Risk Assessment Department
The Risk Assessment Department was established in 2009 as a move toward Risk-Based Supervision. Its mandate is to ensure that banks have in place a comprehensive risk management process to identify, measure, evaluate, monitor and control or mitigate all material risks and to assess their averall Capital Adequacy and Liquidity Adequacy in relation to their Risk Profile and in line with Basel III requirements.
The Risk assessment process adopted by the department includes a review of the quality, quantity and availability of capital and liquidity resources of banks.
A wide range of supervisory techniques are used, including Stress Testing exercises that provide information on the major vulnerabilities and identify major risk concentrations for each bank.
The Risk Assessment Department supports the On-Site teams and relies on their assessment of the quality of risk management and internal controls surrounding material risks.