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This Guidance Paper investigates by means of an extended survey the most recent experiences and practices in risk management and internal control systems of deposit insurers.
A number of guidance points are set on risk management for deposit insurance. These reflect on deposit insurers’ variety in environment and ca be applied without impeding operational usefulness and deposit insurers’ need for flexibility.
The Guidance Paper list the essential risk management functions a deposit insurer should have in place, with regards to its size, mandate, influence and other features of its activity. The Guidance Points are based on the principle of proportionality since the intention is not to identify a maximum target for each individual deposit insurer, but rather a minimum requirement.
The level of development or maturity of the framework will then depend on the specific features of each deposit insurer. The Guidance Points consist of a set of recommendations for the following areas of risk management: i) Governance, ii) Risk Management Process and Internal Control System, iii) Communication and Reporting, and iv) Monitoring and Improvement.