Regulatory Alerts2023-07-06
Added · Updated
INSTRUCTION N°22 (Modification n°2) on Risk Management for Credit Institutions and Financial Companies
This instruction establishes prudential rules for risk management applicable to credit institutions and financial companies in the Democratic Republic of the Congo. It mandates the implementation of a risk management system adapted to the institution's profile, including the creation of a risk map, the definition of risk tolerance and appetite, and the establishment of specific governance structures such as a Risk Committee and a Risk Management Committee. The document requires the designation of a Head of Risk Management subject to regulatory approval, outlines the organization and potential outsourcing of the risk function, and imposes obligations for early warning indicators, reporting of significant incidents, and regular validation of risk policies by governing bodies.
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