OREANDA-NEWS. August 18, 2011. IFC, a member of the World Bank Group, launched an education and certification program to help bankers in Ukraine improve their risk-management skills, strengthening the country’s financial sector amid a challenging economic environment.  

Banking specialists from 13 financial and training institutions, including commercial banks and the National Bank of Ukraine, participated in a seven-day education and certification program this month and in July. The sessions covered financial, credit, market, and operational risk management, and corporate governance. Upon completing the program, participants were certified by the Global Association of Risk Professionals, a globally recognized leader in financial risk education, testing, and certification programs.  

“Knowledge gained during this seminar series is important for the banking sector’s post-crisis recovery,” said Volodymyr Onyshchenko, a financial consultant and program participant. “The program introduced modern risk-management methodology and global best practices, which will help banking specialists to recognize and manage potential problems early.”

The certification program was launched in partnership with Nikland, an international business school based in Kyiv, and Extra Consulting, one of the leading banking consulting firms in Ukraine.  Over the next three years Nikland and Extra Consulting will deliver Russian-language seminars to more than 100 candidates who plan to take risk certification exams.

“IFC’s priority in Ukraine is to strengthen the banking sector and help local banks better manage risk,” said Garth Bedford, Program Manager of IFC’s Financial Market Crisis Response Program in Eastern Europe and Central Asia.  “This education and certification program will help equip Ukraine’s banking professionals with the knowledge they will need to assess and mitigate future risk.”

IFC’s Financial Market Crisis Response Program in Ukraine, launched in 2009 in partnership with the Swiss Confederation, has delivered training on risk and distressed-asset management to about 2,000 banking professionals.  The program is helping to develop legislation that will create a transparent market for distressed assets in Ukraine.