Topic Risk management Risk management
Article from BaFin's 2017 annual report
BaFin's risk manual entered into force on 26 July 2017. It combines all of the organisational rules, functions and tools of BaFin's internal risk management system.
BaFin's Executive Board had resolved at the start of 2016 to establish an integrated risk management system, covering all of BaFin's risks and bringing together the functions and processes of existing units within the organisation specialising in risk-related issues (e.g. IT security, compliance, internal control system). This integrated approach provides a general overview of the risks of all the Directorates.
Previously, different types of risk were assessed and managed separately in the individual organisational units specialising in risk-related issues. In order to avoid redundancies, moreover, these risks will continue to be identified, evaluated and documented in the relevant organisational units. Specific statutory provisions or standards will apply to these individual components. However, risks assessed as having a particularly high loss potential despite their risk treatment must now be passed on to BaFin's central risk management function. In addition, the central risk management function identifies and manages particularly important risks relating to specific Directorates and risks relating to the whole of BaFin.
