Scientific Bulletin of the Odessa National Economic University 2021, 11-12, 75-81
Financial controlling in operational risk management in banks
Sergeeva Elena
PhD (Economics), Associate Professor, Odessa National University of Economics, Odessa, E-mail:lenasergeeva2007@ukr.net
Cite this article:
Sergeeva E. (2021) Financial controlling in operational risk management in banks. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Finansovij kontroling v upravlinni operacijnim rizikom v bankah; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 11-12 (288-289), pp. 75-81.
Abstract
Introduction. Domestic banks have created separate technological elements of risk management in cash flow management,
but today there is a need to form a system that would harmoniously combine risk management in the process. Such system is financial
controlling, which allows to integrate on a system basis all key aspects of cash flow management based on the current organizational
structure and information support, which effectively influences the management of operational risk in banks.Purpose. Determining
the place of financial controlling in the management of operational risk in the context of digitalization, which will minimize the
overall risks in banks.Results. Using digital technologies in banking will allow banks to improve the quality and profitability
not only providing banking services, but also improving the efficiency of related processes such as staff management, analytical
activities, information security and more. However, these changes affect the growth of operational risk and its materialization
in significant losses, which is also associated with the introduction of complex innovative remote banking systems. Ensuring the
formation of the digital economy in the country creates new conditions and a qualitatively new nature of interaction between banks
and their customers, and the effective use of financial controlling in operational risk management in banks will result in rationality
and efficiency of these business processes. Conclusions. Using financial controlling in operational risk management in combination
of organizational and structural (object and subject of financial controlling) and functional (technology and methods of financial
controlling) subsystems will ensure the implementation of planning, methodological, accounting and analytical, advisory, incentive
and anti-crisis functions. which will help maintain the liquidity and efficiency of the bank at the target level. Banks must maintain
databases of operational risk events and create operational risk management systems, which should be carried out by financial
control.
Keywords
bank, digitalization, financial controlling, operational risk, bank capital.
JEL classification: B260, C440, G210
UD classification: 336.717.8:332.025.12
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