Launching the Risk Committee of the Vietnam Banking Association

Launching the Risk Committee. (Photo: NGUYEN DUONG)

Speaking at the ceremony, Mr. Nguyen Quoc Hung, Vice Chairman and General Secretary of the Vietnam Banks Association (VNBA), emphasized the strategic role of the Risk Committee. The Committee will act as an advisory body, advising the VNBA Council in developing recommendations on risk management policies and strategies. At the same time, the Committee is also tasked with supporting member banks in implementing international standards, thereby improving management capacity and responding to new challenges in the volatile economic and financial context.

Mr. Hung affirmed that the establishment of the Risk Committee is a testament to the determination of VNBA and its members in proactively preventing, early identifying, managing, stopping and promptly handling all risks. The ultimate goal is to protect the interests of customers and contribute to ensuring security and safety for the entire credit institution system.

At the ceremony, Ms. Nguyen Thi Huong, Chief of Office of the VNBA Standing Agency, announced the decision to establish the Risk Committee, including 15 official members and 13 members of the Working Group.

Mr. Le Thanh Tung, Member of the Board of Directors of VietinBank , Chairman of the Risk Committee, expressed his honor and responsibility in taking on this role. Mr. Tung affirmed that the members of the Risk Committee are committed to working with the highest sense of responsibility, successfully completing the assigned goals and tasks.

He believes that with the support from the State Bank, regulatory agencies, the VNBA Standing Committee, and the experience and capacity of its members, the Committee's activities will be substantive, effective and of high quality. Thereby, contributing to improving the resilience and risk management capacity of the entire Vietnamese banking system.

Mr. Le Thanh Tung, Member of the Board of Directors of VietinBank, Chairman of the Risk Committee spoke at the Ceremony.

Mr. Le Thanh Tung also presented the orientation and operational plan of the Risk Committee from 2025 to 2027, focusing on three main focuses: Perfecting policies: Consulting and giving opinions on the legal framework for risk management; Professional development: Organizing seminars, training and sharing international practices; Enhancing response capacity: Promoting risk identification and prevention, thereby improving risk management capacity for the entire system.

Mr. Nguyen Duc Long, Director of the Department of Credit Institutions Safety (State Bank), welcomed the establishment of the Risk Committee. Mr. Long said that the State Bank will strengthen supervision to assess compliance with risk management requirements, especially Basel III, to improve governance efficiency and ensure the safety of the banking system in the face of new challenges. The State Bank expects the Risk Committee to effectively support credit institutions in improving their risk management capacity, ensuring operational safety and legal compliance.

Within the framework of the event, the workshop "Enhancing Banking Risk Management Capacity: New Vision from the Draft Amendments to Circular 13/2018/TT-NHNN and Circular 41/2016/TT-NHNN" took place.

This is an important forum for experts to exchange, discuss and contribute opinions on issues related to risk management and their impact on banking operations.

The opinions at the workshop will help the drafting agency complete the draft, ensuring it is consistent with the current operations of credit institutions.

The launch of the Risk Committee marks an important milestone in the efforts of the Vietnam Banks Association to build a strong, safe and efficient banking system, ready to face market fluctuations.

THE WORLD

Source: https://nhandan.vn/ra-mat-uy-ban-rui-ro-thuoc-hiep-hoi-ngan-hang-viet-nam-post894050.html