Operational Risk

Gazprombank (Switzerland) Ltd has established a sound operational risk management framework. Operational risk is inherent in the Bank’s products, activities, processes and systems. Internal controls are embedded in the Bank’s day-to-day business. Operational Risk Management is an independent function from the business units. Operational Key Risk Indicators are reported to the Executive Management Board on a regular basis. Internal audit independently verifies the Operational Risk Framework that has been implemented to make sure it is functioning effectively. The Executive Management Board ensures that the Framework’s policies, processes and systems remain sufficiently robust as the business environment is constantly changing.