(Business in Cameroon) - Ecobank recently launched a tender process to select a firm that will create the risk map of its operations per articles 87 and 88 of the rules laid out by the Central African banking commission.
According to the rules, the regulated institutions must elaborate systems and procedures that help grasp the risks related to their bank and non-bank activities (credit, counterpart fund etc…)
"These systems and procedures help regulated institutions measure and manage the causes and significant impacts of the risks. It is also a map that helps them identify and evaluate the risks incurred due to internal and external factors," article 87 of the regulation states.
Article 88 explains that thanks to the map, they can strengthen their monitoring systems and implement the systems to mitigate risks identified.
Firms interested in the tender process are invited to submit their bid by July 24, 2020.