On 19 August 2015, Viktor Novikov, the Legal Department Director of the National Bank of will start a new job as Deputy Managing Director of the Deposit Guarantee Fund (hereinafter referred to as the Fund).

This decision was driven by the need to qualitatively strengthen the management team of the Fund, taking into account the recent legislative changes in its status. Thus, the Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine (on Improvement of the Deposit Guarantee System and Removal of Insolvent Banks from the Market)" strengthened the institutional capacity of the Fund significantly which provides for the creation of a consolidated office in its structure for the sales of insolvent banks’ assets. This will require significant changes in the structure of the Fund. Viktor Novikov’s appointment as Deputy Managing Director of the Fund is one of the first steps in this direction. "We have been working for long and have attained some results in the direction of strengthening the institutional capacity of the Fund at the legislative level. Now that the Fund has actually received a new status, we are facing serious new challenges. I hope my contribution to the operation of the Fund in my new capacity will help to implement priority tasks aimed at qualitatively new transformation of this public institution," Victor Novikov commented on his appointment.

The Governor of the National Bank of Ukraine, Valeria Gontareva, expressed confidence that Viktor Novikov’s professional knowledge and experience would bring great benefit to the Fund. She expressed sincere gratitude to him for many years of dedicated work for the benefit of the banking system. "For the last year, as a result of our joint efforts we have succeeded in the implementation of a number of legislative initiatives aimed at the efficient reform of the domestic financial sector, which would have been impossible without the consolidated actions of the Legal Department and personally Viktor Novikov. "I believe that our cooperation will also bring great results in the future", said the Governor of the National Bank of Ukraine.

"We welcome Viktor Novikov’s appointment and we are confident that his experience and professional legal knowledge will promote efficient implementation of the Fund’s objectives in the context of considerable expansion of its authorities with regard to withdrawal of insolvent banks from the market. Mr Novikov is familiar with our activities since he was a member of the Administrative Board of the Fund and was fully engaged in the development of a great number of laws aimed at improving the deposit guarantee system," said Kostiantyn Vorushylin, the Director of the Fund.

Viktor Novikov has headed the Legal Department and was a member of the Board of the National Bank of Ukraine from November 2009. Starting from 1997, he worked in the Central Office of the National Bank of Ukraine as the Division Chief, Acting Head of Department, Acting Director of the Legal Department; from 1994 - as the Head of the Legal Division, the NBU Branch in Zaporizhzhia Oblast.

Viktor Novikov was born on 15 December 1958. In 1988, he graduated from I. Mechnikov State University of Odesa, major in Jurisprudence, with a degree in Law. Merited lawyer of Ukraine, awarded the Order of Merit of III degree (2012). Today, he was presented with the commemorative token "The National Bank of Ukraine".