Regulatory Alerts2008-01-01
Guide to Risk Management Programs for Banking Institutions in Malawi
The Reserve Bank of Malawi issued this guide to standardize the development and implementation of Risk Management Programs across all banking institutions, requiring a comprehensive yet standalone overview of how risks are identified, measured, and controlled. It mandates that programs explicitly define the bank’s business and non-business risk appetites, detail strategic risk assessments, and establish a clear governance structure delineating the roles of the board, senior management, dedicated risk managers, compliance, and internal audit functions. The document further requires institutions to outline their approaches to monitoring specific risk categories, conducting stress tests, managing new product development, and maintaining robust business continuity and disaster recovery plans.