For improving effectiveness of the internal control system of the National Bank of Ukraine (NBU), the Risk Management Department has reorganized its Financial and Operational Risks Office in July this year. As of 9 October 2019, a newly appointed unit is led by Nadiia Meshenko.
She was appointed according to the competition results for filling in the position of the Head of the Office.
Please be reminded that the Financial and Operational Risks Office will operate as an independent function as part of the General block and will report and be subordinated to the NBU Governor directly. Transformation of the risk management function of the NBU is predetermined by the need to strengthen the second line of defense in the NBU, organizational and functional segregation from the first line of defense, in particular from thee assessment and pledge monitoring function. Also, the NBU Council recommended to improve the processes for risk management.
The newly created Financial and Operational Risks Office will perform the same functions that Risk Management Department has fulfilled up until now (organizing and ensuring effective operation of the risk management system, methodological support of the internal control system and the business continuity system of the NBU), except for the valuation and monitoring of collateral. Meanwhile, the appraisal and monitoring of collateral is now the responsibility of the Loan Management Department, which now has a new office to fulfill this function (Tetiana Sirosh was appointed Head of the Collateral Valuation and Monitoring Office of the Loan Management Department).
Nadiia Meshenko has been working in the NBU since 2015. She was the Head of Market Risk Division of the Risk Management Department, and in March 2018 Nadiia Meshenko was appointed the Head of Financial Risk Office of the Risk Management Department. The appointed Head of Office gained her experience in functions for risk management at the UniCredit international banking group. Before her job at the NBU, Nadiia Meshenko led the Risk Management Office of the Strategic Risk Department at Ukrsotsbank.