Regulatory Alerts2016-06-22
Notice No. 07/2016 of June 22: Risk Governance Principles
The Bank of Angola issued Notice No. 07/2016 to establish mandatory risk governance principles and requirements for financial institutions under its supervision. The regulation mandates that institutions define their risk appetite and risk-bearing capacity, ensuring these are aligned with their business strategy and subject to rigorous internal controls. It further requires the implementation of robust risk management frameworks, including clear segregation of duties, comprehensive concentration risk assessments, and strict oversight of outsourcing activities.
Share