Regulatory Alerts2021-01-01
Decision on Minimum Standards for Risk Management in the Development Bank of Montenegro
The competent authority in Montenegro issued this Decision to prescribe minimum standards for risk management within the Development Bank of Montenegro. The document mandates the establishment of a comprehensive risk management system, including defined strategies, policies, and a risk control function independent from business lines. It further requires rigorous procedures for identifying, measuring, and reporting risks, alongside mandatory quarterly stress testing and risk assessments for new products or significant operational changes.
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