OREANDA-NEWS. September 10, 2012. Expert RA assigned a risk management system quality rating to Bank Petrocommerce at the level of A.rm – “High level of risk management”.

The press release issued by the agency notes that “a positive impact on the Bank’s risk management system quality rating was exerted by the independence of the risk management block from the sales unit, a broad range of scoring models and methods of market risk control, efficient monitoring of the borrowers’ financial state and an acceptable level of prevention from breakdown of the equipment and IT systems”.

Besides, the analysts give a positive evaluation of the fact that the Bank has a system of collegiate bodies regulating the major risks (the financial and economic committee, credit committees). The rating was also underpinned by the Bank’s “cooperation with a reliable insurance partner in terms of the Bank’s own property insurance and prompt upgrade of risk management methods”.

According to Evgeny Goncharenko, Head of Risk Control Department, the Bank’s risk control units are granted independence and play a significant role in the business decision-making process. “The Bank intends to comply with the resolutions of the Basel Committee on implementation of the general risk management system and to follow the best international practices in this area”, he added.