Yerevan, February 13 /Mediamax/. “Improvement of Banking Risks Management Processes” ABN AMRO bank project implementation process in “Unibank” concluded. The project consisted of 9 modules and was mainly targeted to the retail sphere.

As Mediamax was told in the press service of the bank, according to the assessment of the Chairman of the Board of “Unibank” Vartan Ataian, the realization of the program became the most important step on the way of implementation of a risks management system, meeting the international standards, and the opportunity for the bank to receive international rating.

There is already a separate bloc for risks management set up in “Unibank”, new internal legal documents corresponding to international standards are reconsidered and elaborated. Among them: “Risks regulation”, “Risks policy”, “Management Information System Policy /MIS/ as to crediting activity”, “Operational risks management policy”, “Corporate losses database maintenance”.

Plans of credit products are also elaborated and put into operation in the bank, forms of credit applications and the scoring model are edited.

The representatives of ABN AMRO bank gave positive assessment to the results of implementation of the program, the main of which is the implementation of a new approach to the problem of revelation and neutralization of banking risks, elaboration of products and provisions for revelation and assessment of retail risks and their management.

The right for realization of “Improvement of Banking Risks Management Processes” program was granted to “Unibank” by the Central Bank of the Republic of Armenia and ABN AMRO bank, on competition basis, in 2006. The term for realization of the program made 13 months.