About the NBP
Risk Management in NBP
The integrated Risk Management System in NBP, which started on 31st January 2004, consists of three (integrated) levels: (I) a decentralized level of risk management in each organizational unit in the Bank, in which so-called "risk managers" play an important role; (II) a centralized level for identification, estimation and analysis of particular risks (operational and financial) common to the entire institution, which are made by Commission on Risk Management, Middle Office and Operational Risk Unit; (III) Strategic decisions made by the Management Board of the Bank.
The Risk Management System model is an unusual compilation of existing risk management practice in several central banks worldwide. As is known, NBP is the only "public sector" institution in Poland which has decided to create such a System. Owing to this, NBP is better secured against potential risks. It is worth emphasizing that NBP was not legally obliged to create a risk management System, and that voluntary decision was based on a strong desire to implement the best internal management practice in the Bank.