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Risk Management and Internal Control of Bank of China


 

Risk Management

Bank of China holds a "neutral" risk appetite to balance risk and return in line with the principles of "rationality, stability and prudence". The aim of Bank of China risk management is to maximize shareholders' interests within the risk tolerance and on the premise of prudence compliance required by the regulator, depositors and other stakeholders.

The risk management organizational structure of Bank of China consists of Board of Directors and its Risk Policy Committee, Internal Control Committee, Anti-Money Laundering Committee, Asset Disposal Committee, Risk Management Department, Credit Enforcement Department, Treasury, Legal & Compliance Department and others.

Bank of China makes vigorous effort to strengthen risk management. In terms of credit risk management, it implements centralized credit approval and risk classification examination with a sophisticated examiner system. It enhances credit authorization and post-loan management, as well as the disposal and recovery of non-performing loans. For market risk management, Bank of China formulates Market Risk Management Policy to define the market risk measurement, credit limit structure and credit limit monitoring. In respect of liquidity risk management, the head office takes charge of liquidity risks of the whole bank and realizes high degree of unification of policy and risk measurement standard in line with the discipline of centralized management.

Internal Control

Bank of China has established three defense lines for internal control. Institutions of all levels, all business management departments, and the staff shall shoulder the responsibility of internal control. This is the first defense line which aims to realize self-control by self-evaluation, self-inspection, self-rectification and self-training. Legal Compliance Department and Business Line Department shall take charge of the overall establishment of internal control system to guide, inspect, supervise and evaluate the first defense line, which is the second defense line. Audit Department shall check and evaluate the appropriateness and effectiveness of business operations, risk management, internal control and corporate governance of the whole bank in a systematic and standardized manner, which is the third defense line.

Anti-Money Laundering

In 2001, Bank of China set up the Anti-Money Laundering Committee as the top policy-making organ. Correspondingly, both domestic and overseas branches established their anti-money laundering teams as well. Formulation of Anti-money Laundering and Anti-terrorism Financing Policy signifies a relatively complete anti-money laundering system and organizational structure, which enables rigid performance of anti-money laundering duty.

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