Introduction of SMOR is aimed at meeting international standards on risk management, which is effective tool in rationalization and optimization of business processes, minimization of risks. This helps to improve rating and trust of the bank, as well as investment attractiveness and service quality, the bank added.

The system introduced at the Credit Standard Bank allows to assess own operation risks and determine economical validity of demand for capital to cover operation risks, as well as develop own model of risk management.

The bank said it developed several normative documents, which will allow to determine main principles and rules of work with operation risks control system.

Automated system on evaluation of operation risks is under test mode. The system was developed in line with the recommendation of the Basel committee.

Credit Standard Bank said it will also improve corporate culture among bank personnel, business processes management, minimization of risks events, improve quality and reliability of bank products and services.