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1. In terms of the Risk Management System

The Bank has in place a risk management system to ensure financial safety and sustainable, safe and marketable performance of the Bank to reach the strategic goals set by the Bank.

The key objective of the risk management system of the Bank is achieved through the following high-priority tasks:

  • Implementing the risk-limiting system  in accordance with the risk tolerance set by the Supervisory Board of the Bank;
  • Establishing the most effective organizational risk management pattern relevant to the Bank’s functional organizational structure, nature and volume of banking transactions;
  • Avoiding the conflict of interests and the conditions for appearance thereof as part of risk management process;
  • Ensuring that the risk management system is implemented by skilled professionals using the necessary information systems and software and hardware tools allowing to collect, process and analyze information used for risk management; carrying out stress tests, calculating capital needs and preparing management reports;
  • Identifying risks in all types of activities, products and transactions of the Bank, as well as in payment systems;
  • Ensuring availability of methodological procedures for each risk and improvement thereof   based on the Bank’s risk profile and scope of application;
  • Determining interconnection between individual risks;
  • Establishing the risk monitoring system at the stage of the emerging negative trend, as well as a quick response system to prevent or reduce the potential negative influence of risks on the Bank’s performance;
  • Obtaining sufficient compensation for the risk taken;
  • Ensuring regular communication of the Bank’s risks at all levels of the organizational pattern of the risk management system;
  • Ensuring efficiency control of the risk management process.

The Bank has defined the following risks that influence its performance: liquidity risk, credit risk, strategy risk, interest rate risk, market risk(interest risk of trading portfolio, currency risk, stock market risk, commodities risk), operational risk, reputation risk, country risk and concentration risk.

The Bank is continuously taking measures to improve the risk management system, based on the results of periodic performance assessment. Besides, the risk management process is implemented at all levels of the Bank’s organizational pattern (within three lines of protection against risks) including :

  • the Supervisory Board of the Bank;
  • the Risk Committee and Audit Committee under the Supervisory Board of the Bank headed by independent directors of the structure of the Supervisory Board of the Bank;
  • the Management Board;
  • the Financial Committee of the Bank, the Asset and Liability Committee, the Non-Performing Loan Committee, the Credit Committee of the Bank, the Operations Committee, ongoing meetings, the Credit Committees of separate subdivisions;
  • the Internal Audit Department;
  • the Official responsible for the Risk Management of the Bank;
  • the Management of the risks of the Bank;
  • the Management Credit Risk Department;
  • Other Functional areas responsible for the activity organization of the Risk Management;
  • Functional areas responsible for the risks gained in the process of their activity;
  • Regional directorates responsible for the risk generated in the process of their activity.

Main tools for improving risk management system of the Bank:

  • Determining, within the Bank’s risk management strategy, tasks to enhance efficiency of the risk management system and implementation thereof;
  • Establishing a risk culture of the Bank  (ensuring that every employee understands the Bank’s risk management policy and has the skills that are required to fulfill the risk management functions within his/her job responsibilities);
  • Improving the organizational pattern of the risk management system with distinct separation of powers and responsibilities and efficient information exchange on risk management issues;
  • Developing and updating of methodological procedures related to risk management, including individual LRA related to risk management;
  • Developing the Bank’s information technologies for risk management process and further implementing the risk management automated system based on the integrated data warehouse of the Bank;
  • Planning a series of actions aimed at development of the risk management system, as well as within the annual Action Plan to ensure strategic guidelines for the Bank’s development.

2. In terms of the Risk Management of the Bank holding company.

The Risk Management of the Bank holding company includes:

  • The Bank’s Risk Management;
  • The Participants of the Bank holding company’s Risk Management;
  • The Risk Management of the Bank holding company on the consolidated principle.

The internal control system of the Bank holding company’s risks is multilevel and allocated through all hierarchy of the Bank’s Risk Management organizational structure and Participants of the Bank holding company.

At the level of the Bank the Risk Management internal control system the Bank holding company includes:

  • the Bank’s governing boards (the General meeting of shareholders of the Bank, the Supervisory Board of the Bank, the Management Board of the Bank);
  • the Risk Committee under the Supervisory Board of the Bank;
  • the Chairman and Deputy Chairmen of the Board of the Bank, the Executive Director of the Bank;
  • the Representatives of the Bank in the Supervisory Boards of Participants of the Bank holding company - joint stock companies;
  • the Functional areas of the Bank central office including Banking Risks Department, Credit Risk Department, Centre of Investment Projects Implementation, Internal Audit Department;
  • Regional directorates carrying out bank service of the Participants of the Bank holding company.

At the level of the Participants of the Bank holding company the Risk Management internal control system of the Bank holding company includes:

  • the governing boards of joint-stock companies - the General meeting of shareholders of the Bank, the Supervisory Board of the Bank;
  • the Internal Audit Commission of the Participants of the Bank holding company;
  • the Board of the Participants of the Bank holding company.

The objectives of the Risk Management internal control system organization of the Bank holding company on the consolidated principle are:

  • efficiency and productivity of financial and other economic activity of the Bank based on performance results of the Participants of the Bank holding company;
  • efficiency of the Risk Management, assets and liabilities;
  • efficiency of the making transactions between the Participants of the Bank holding company;
  • the prevention of the transactions directed to distortion of the Bank activity performance indicators;
  • reliability, completeness, objectivity and timeliness of drawing up and submission of information on activity;
  • observance by the Organizations of the Bank holding company and their workers of requirements of the legislation of the Republic of Belarus and local normative legal acts;
  • an exception of involvement of the Organizations of the Bank holding company in the financial operations having the illegal nature, including the prevention and suppression of the actions connected with legalization of income gained by the criminal means and financing of terrorist activity and spread of weapons of mass destruction.

The Risk management of the Bank holding company is exercised by means of the solution of the following priority problems:

  • implementation of measures, directed to understanding of the pursued risk management policy by each employee of the Organization of the Bank holding company;
  • necessary habits formation for performance by each employee functions on the risk management under the imposed employment duties on;
  • improvement of decision-making process and strategic planning by understanding of potential opportunities and threats in the course of the Organizations activity of the Bank holding company;
  • creation of the risks tracking system at a stage of emergence of a negative tendency, for prevention (size) of risk which consequences of realization are critically significant for the Organizations of the Bank holding company;
  • formation of the risks internal control system corresponding to scales and the nature of activity which is brought into the action by the Organizations of the Bank holding company.

The risks internal control system in the Bank holding company has been organized on the consolidated principle for a possibility of obtaining comparable information concerning the risks level of the Organizations of the Bank holding company, including making the aggregative assessment of the risks level of the Bank holding company.

Risk Management Officer in JSC Belagroprombank - Pavel Vаsileuski, First Deputy Chairman of the Board of JSC Belagroprombank

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