This situation demands of the financial institutions a deep cultural change and the incorporation of more robust internal control systems, as well as, the constitution of support units that encourage the adequate management of risks and the development of methodologies that allow the correct administration of the same.

Being Credicorp Bank an institution attached to the best banking practices nationally and internationally and always being at the forefront of the environment where it operates, adjusted from 2011 its model of Integrated Risk Management, according to the guidelines dictated by the Superintendency of Banks of Panama, the Basel Committee and the international norms ISO 31000. In this way specialized units were created in the Risk Management as the Unit of Operational Risk, which is supported by a robust scheme of Corporate Governance.

For the year 2012, the Bank had policies and methodologies for the adequate management of operational risks, which are implemented in all the chains that generate value for the organization as well as in the processes that support them. In this way, the Bank has a robust methodological framework, which produces key information for decision making, timely and proactive mitigation of possible operational risks and the optimization of bank processes. Among the main achievements in Operational Risk Management, you can list:

  • Implementation of the Operational Risk Management Methodology in the processes / services / products, critical of the bank.
  • Development and implementation of information technology risk management methodology.
  • Definition of the measurement system of key risk indicators.
  • Design, development and implementation of operational risk incident database.
  • Definition and development of Business Continuity and Disaster Recovery plans of Credicorp Bank.
  • Awareness of employees in matters of operational risk.

The results obtained in each of the applied methodologies, as well as in the steps taken, are constantly presented to the Risk Steering Committee, which ensures its correct administration in a cost-effective, timely manner and aligned with the level of risk appetite accepted by the Bank. , which translates into significant benefits for all customers that are part of Credicorp Bank.