Risk management

The mission of the risk management function in the Bank Millennium Group is to ensure that all risk types are managed, monitored and controlled in accordance with the accepted risk profile (risk appetite) and the character and scale of the Group’s activity. Mission goals are achieved through implementation of the following activities:

  • Developing risk management strategy, credit policy, processes and procedures defining the rules for accepting the permitted levels of respective risks.
  • Implementing IT tools to identify, control and measure risk,
  • Increasing awareness of responsibility for proper risk management among employees.

At the strategic level, the Bank Millennium Management Board and Supervisory Board are responsible for running the general risk policy, which includes their approval of the risk management strategy and policy.

These corporate bodies are also responsible for ensuring the necessary resources to execute this policy.


The Bank’s Management Board delegates the management of and ongoing operational oversight over various banking risk areas to committees: Risk Committee, Capital, Asset and Liability Committee, Credit Committee, At-Risk Receivables Committee, Operational Risk and Process Committee and Validation Committee. All the members of the Bank’s Management Board are members of the Risk Committee, the crucial body responsible for ongoing risk management.

The Bank’s Management Board is responsible for the efficiency of the risk management system and on a regular (quarterly) basis it reports to the Supervisory Board on the types and levels of various risks occurring in the Bank’s operations. Ongoing risk management has been allocated to specialized organizational units, i.e. departments (offices) within whose framework there is further specialization (sub-departments, teams) giving consideration to the various types of risk or the stages in the process. [GRI 102-11]

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