ПРО СИСТЕМНИЙ ПІДХІД ДО ОРГАНІЗАЦІЇ ВНУТРІШНЬОГО КОНТРОЛЮ ТА ФІНАНСОВОГО МОНІТОРИНГУ У БАНКАХ

Abstract

The article discusses approaches to organizing internal control procedures in banks, as well as the execution of tasks related to financial monitoring for checking clients and their transactions. Over the past decade, regulators in the Ukrainian financial market have significantly increased requirements for internal control systems, and the cost of organizing corresponding procedures has significantly risen. The increased requirements are linked to the growing risks in the activities of banks, the elevation of international standards in the prevention and combating of money laundering, terrorism financing, and the funding of the proliferation of weapons of mass destruction. For banking institutions, it is crucial to ensure an acceptable level of operational risks. However, excessive spending on internal procedures can hinder business development. In contrast to the classical approach where internal control serves only to ensure financial stability and minimize operational risk, the possibility of contributing to business development is considered. Internal control procedures can become instruments for creating added value. Mechanisms for implementing a risk-oriented approach to organizing internal control procedures are proposed, with a focus on directing main resources towards areas of heightened risks. If the cost of servicing operations exceeds the financial result of the operation itself, the use of relevant procedures is not advisable. The article provides examples of implementing internal control in a bank, conducts a detailed analysis of typical mistakes, and provides examples of implementing best practices in the automation and digitization of the control environment. Digitization of banking products should also extend to the organization of bank procedures. The development of modern fintech technologies not only enhances the efficiency of internal control but also ensures the cost reduction of relevant procedures. As a result of the research, recommendations are formulated for constructing an internal control system considering the needs of business and operational departments.