Main functions of the Risk Management Department

Risk Management in the Central Bank of Iraq:

The Department is working with the various directorates of the Bank to identify, analyze, measure and evaluate current and potential risks and to immediately deal with, mitigate or reduce the risk (impact or happening probability), and according to mechanism mentioned in the Risk Management Policy adopted by the Board of Directors of this Bank. Taking into account the priority of the very high, high and medium risks as stated in the risk register and the matrix prepared for this purpose, follow it up, control it, and ensure that appropriate controls and procedures taken to reduce, address and report it. Also to provide the Bank's senior management, the Board of Directors and the managers with periodic reports that disclose all types of current and future risks that the Bank may face and recommend the procedures and controls necessary to eliminate them.