Ongoing Control and Operational Risk

Ongoing Control

Bank "GLOBUS" ensures effective internal control, which guarantees:

  • Business processes are efficient and productive.
  • Executed transactions are accurately reflected.
  • Financial reporting is reliable and complies with regulatory requirements.
  • Risk management system is effective and ensures their minimization.
  • Bank "GLOBUS" complies with regulatory requirements, internal policies, and procedures.

Internal control consists of continuous control and periodic checks, which complement each other."

Operational Risk
Operational risk is the risk of losses resulting from inadequate or erroneous internal processes, actions of employees and systems, or external events, including legal risk.

Control of operational risk, which involves studying and implementing appropriate measures to minimize it, is one of the key tasks of Bank "GLOBUS". This control involves the participation of all employees and is integrated into various decision-making processes within the Bank.


Fraud
Fraud is the misappropriation of someone else's property or the acquisition of rights to someone else's property through deception or abuse of trust. Deception includes both conscious distortion of reality and its concealment.

Bank "GLOBUS" follows a zero tolerance policy towards fraud, which means that employee conduct must always be impeccable.
As such:
  • Anyone caught engaging in or aiding fraud will no longer be able to work at Bank "GLOBUS."
  • All cases of fraud will be investigated in accordance with Ukrainian legislation.
  • In addition to the unequivocal obligation not to commit fraud, every employee is required to prevent and expose fraud.