Business Ethics and Compliance

There are ongoing activities to raise the level of risk culture, annual training for staff on first- and second-line protection risk management topics, and testing for knowledge of risk management requirements and policies. In 2022, work was carried out to update the matrix of business processes, risks and controls, as well as to amend the methodology for forming the matrix of business processes, risks and controls to include processes not included in the business process classifier in the risk matrix. In 2022, ten business processes were checked as well. Risk coordinators have been appointed in each division of the Bank to ensure identification of operational risks on both lines of defence. On March 31, 2022, in accordance with the resolution of the Board of Directors of the Development Bank, the Compliance Controller’s functions were transferred to the newly organized Compliance Service with the expansion of its functions and tasks.