conducting offsite supervision on an individual and consolidated basis of compliance by supervised entities in nonbank financial service markets (except for the payment and/or FX market) with the law on regulating provision of financial services
assessing the risks inherent in operations of nonbank financial institutions, assessing their operations using a risk-based approach and the principle of proportionality, including evaluating operations of outsourcers of a financial company/pawnshop/insurer/credit union in line with Ukrainian legal requirements
detecting potential risks that may lead to violations by supervised entities of the legal requirements on regulation of provision of financial services
rapid responding to violations of the laws on financial services by supervised entities, and to risky operations that threaten interests of depositors and/or other creditors of nonbank financial institutions, and imposing enforcement measures, corrective actions, including corrective actions to an unlimited number of persons, early intervention measures, response measures, and other measures based on the offsite supervision findings
monitoring the implementation by the supervised entities of the recommendations provided as a result of an inspection and as part of corrective measures (except for consumer rights protection in financial and/or payment services), and compliance with settlement and FX laws
monitoring operations of the provisional administrator of the insurer/credit union by analyzing the reports, data, documents and information submitted thereby
initiating permission to include borrowed funds on the terms of subordinated debt in the regulatory capital / inclusion in prudential requirements; granting / canceling permission to include the relevant fixed-term additional share contributions in the regulatory capital of the credit union
monitoring rectification of deficiencies in performing a function, individual assignment, and assignments/processes that are a part of the outsourced function, initiating early termination of agreements with outsourcers; requiring a nonbank financial institution to replace the person responsible for outsourcing such function
assessing and/or participating in assessing corporate governance and internal control systems of the supervised entity (except for auxiliary service providers and outsourcing companies)
analyzing the markets of nonbank financial services subject to NBU regulation (hereinafter referred to as the “nonbank financial sector of Ukraine”)
preparing the supervisory reports for analysis of performance indicators of nonbank financial institutions and the nonbank financial sector of Ukraine
managing the supervisory data (regarding the supervised entities)
assessing the financial standing and performance results of nonbank financial institutions on a regular basis
monitoring implementation of the plan of reorganization/ liquidation/recovery/financing/withdrawal from the market of an insurer and/or credit union
decision-making on whether certain services or transactions that have attributes of one or more types of financial services constitute a certain type of financial services (except for the payment and/or FX market); prohibiting a supervised entity or a person potentially carrying out unlicensed operations to provide a service that was decided to be a certain type of financial services, provided that it falls within the remit of the Department.
