Оперативен ризик и корпоративно управување во финансиските институции - со посебен осврт на банките

Abstract

The relation between the operational risk and the corporate governance is the major subject of this dissertation, as a function of improvement of the banks and other financial institutions management. The operational risk as a part of number of risks that banks and other financial institutions were facing in the past decades represents a risk with high frequency of appearance, due to number of different factors. The modern trends of financial engineering and creation of new financial instruments, computerization and increased level of IT support, ethical problems with employees, increased terrorist attacks as well as environmental problems and other factors influence on increasing appearance of risk events. Thus a need for system for management of operational risk is increased, considering it as a defined and documented process, with clearly defined rights and responsibilities, lines of reporting and separation of operational and strategic decision making. This is especially important for the sake of influence that this risk with its characteristics has on the whole operation and in some cases survival of the institution. Corporate governance as a set of rules and system for management and control of the companies can have significant influence on the risk management and accordingly on the operational risk management. The structure of corporate governance specifies the distribution of rights and responsibilities between the different members of the institution, such as board members, managers, shareholders and other related parties and it proscribes detailed rules and procedures for corporate decision making. Having in mind that operational risk management largely depends on board‟s decisions, the understanding of the problems by its members, their competence, the way the control system is organized, the tone of the top, all these elements determine the operational risk management. With higher quality, a higher shareholders wealth can be achieved, including the positive impact on other stakeholders. The banks and the other financial institutions in the Republic of Macedonia started with proactive engagement in operational risk management and corporate governance in latest decade and still in some aspects of this process they are lacking behind internationally active banks. This is mainly due to formal and declarative acceptance of main principles of corporate governance and operational risk management, that usually takes time for development. There is a significant contribution of regulatory institutions like NBRM, but the nature of these processes requires active understanding and acceptance of the obligations by the governing structures in the institutions.