The Board of the National Bank of Ukraine has approved a new structure of the Banking Inspection Department, said Director of the Banking Inspection Department Tetiana Lebedynets. 

“Even the name of the department has been changed – now it is called the Bank Inspections Department. The Banking inspection sees a breakthrough shift in the approach, a transition to a risk-based   approach (an approach based on risk assessment). Instead of the divisions performing similar functions, i.e. division No.1, division No.2, and division no.3, now we have three offices respnsible for operational, financial and information risk management,” said Tetiana Lebedynets, adding that this segregation of duties will enable the experts working in this Department have a better understanding of things in a particular area, thus contributing to the quality and depth of bank inspections.

In addition, according to Tetiana Lebedynets, the Department plans to re-certify its employees to assess whether they are fit to do the job.  Our goal is not limited to just laying off staff.   Accomplished professionals with zero tolerance to corruption should work in the department. Both new and old employees will have to meet these eligibility requirements,” stressed Tetiana Lebedynets.