The Risk Management Department of NABARD was set up on June 2, 2014 to function as the Nodal Department to handle all types of risks in NABARD, including:
- Credit risk among Credit Dispensing Departments
- Market risk among treasury and investment operations
- Operational risk among all Head Office Departments and Regional Offices
- Compliance risk among all Head Office Departments and Regional Offices
The department is headed by the Chief General Manager, who is also the bank’s Chief Compliance Officer.
2. Core functions of the Department
- Formulation and revision of the Risk Management Policy of NABARD.
- Identification and diagnosis of credit risks in NABARD through introduction of proper systems, procedures, risk rating tools and forecast mechanisms
- Management of market risks within acceptable level
- Execution of functions relating to operational risk and compliance risk in NABARD
- Coordination with the Government of India, State Governments, the Reserve Bank of India, other regulatory bodies and rating agencies on risk-related matters.
- Placement of a sound risk management framework in the Bank
- Apprising the top management and Risk Management Committee of the Board on status of enterprise level risks, the risk mitigation systems in place, etc.
3. Broad Achievements of the Department
- Comprehensive Enterprise Risk Management Policy put in place
- Regular ALCO (Asset Liability Committee) Meetings addressing market risk-related issues conducted.
- Internal Risk Rating modules introduced for various clients and reviewed periodically.
- Introduction of Guidelines relating to non-performing asset (NPA) management, client-specific exposure norms and guidelines for debarring of NGOs/other agencies by NABARD.
- Major operational risks identified and risk mitigation systems put in place.
- Implementation of Business Continuity Plan and Disaster Recovery Plan.
- Implementation of Quarterly compliance risk monitoring system.
- Support to training institutions for capacity building of NABARD staff as well as that of client institutions provided.
Shri. S. Selvaraj
Chief General Manager
3rd Floor, 'C' Wing
C-24, 'G' Block
Bandra-Kurla Complex, Bandra (East)
Mumbai 400 051
Tel: (91) 022-26524836,
Fax: (91) 022-26530018