Internal Control and Audit Service

The Internal Control and Audit Service were created in order to carry out the internal control and to help Bank’s management bodies to provide Bank’s efficient functioning.

The internal control and audit is carried out in order to provide:

1. The efficiency and effectiveness of the financial and economic activity carried out in the course of banking operations, the efficiency of the assets and liabilities management, bank risks management assuming:
   • detection, assessment and calculation of the acceptable level of bank risks inherent in banking activity, typical possible bank’s losses or liquidity deterioration as a result of negative events related to internal and external factors of Bank’s activity;
   • permanent bank risks monitoring;
   • measures in order to maintain bank risks on the level not dangerous to the Bank’s financial stability and to the interest of its creditors and depositors.
2. Reliability, completeness, objectivity and timeliness of the submitting financial, accounting or other reports as well as informational security. 
3. Compliance with the regulations of the Russian Federation and with the statutory and internal Bank’s documents.
4. Avoidance of the Bank’s or its employees’ engagement in illegal activities including  legalization (laundering) of criminally obtained revenues and terrorist financing as well as timely submitting information to the state authorities and to the Bank of Russia according to the legislation.

The Internal control and audit Service cover all directions of the Bank’s activity in the following spheres:

• financial and economic activity,
• accounting and reporting activity,
• informational security,
• professional activity on the securities market,
• AML/CFT.