Risk Management and Compliance Department

Risk Management and Compliance Department is established in 2008 as per the need in the organizational structure of Da Afghanistan Bank. In 2019, due to urgent necessity, the compliance section was also created, with the responsibility of the section was entrusted to this directorate. This section works to protect the dignity and reputation of Da Afghanistan Bank, to achieve a banking system away from AML/PC risks and to protect DAB from expected risks.

Objectives:

The primary objectives of the Risk Management and Compliance Department are to maintain the reputation of Da Afghanistan Bank which involves assessment, diagnosis, and analysis of operational risks, investment risks, information technology risks, regulatory risks, liquidity risks, payment system risks, and credit risks of Da Afghanistan Bank. This section is required to prepare a risk mitigation plan for controlling established risks. In addition, implementing the sanctions lists and the relevant procedures and checklists in terms of the desired transactions executed by Da Afghanistan Bank, is also one of the main goals of this section for maintaining the functions of Da Afghanistan Bank and protecting it from money launderers and terrorism financiers.

It has to be mentioned that analyzing the risks of the business continuity and disaster recovery plan of Da Afghanistan Bank, particularly in the implementation phase in the alternative area, is also one of the main objectives of this directorate. This plan involves the following:

•  Assess and supervise risky situations in Da Afghanistan Bank, especially in vulnerable areas;

•  Develop time-bound programs on mitigating the risks of possible incidents within DAB;

•  Develop continuous training programs for employees of head office and all zones

•  Develop awareness programs on risks mitigation potential incidents.

Organizational Structure:

The organizational structure of the risk management and compliance department, including the director and deputy director, is consist of sections such as senior risk assessment and compliance management section, and risk assessment and compliance, executive and workers sub-sections, having a total of 18 staff members.