Regulatory Alerts2013-04-07
Added · Updated
DFIM Circular No. 01: Formation of Risk Management Forum and Risk Analysis Unit in Financial Institutions
Financial Institutions in Bangladesh must establish a Risk Management Forum headed by the Chief Risk Officer and an independent Risk Analysis Unit by 15 April 2013. The Risk Analysis Unit is required to collect risk data by the 15th of each month, facilitate Risk Management Forum meetings by the 20th, and submit the Risk Management Paper and meeting minutes to the regulator by the end of that month. This circular replaces the 'Preferred Risk Management Structure & Responsibilities' provisions from the 21 July 2005 guidelines and takes immediate effect.
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