RECOMMENDATIONS FOR ENHANCING INTERNAL CONTROL MECHANISM OF COMMERCIAL BANKS WITH A CASE IN THAI NGUYEN

Abstract

Objectives: The objective of this paper is to present solutions and suggestions for enhancing the control mechanism of commercial banks, with a specific case study conducted in Thai Nguyen. In light of the increasing demand for bank risk management, this study aims to propose strategies to improve and develop more effective control solutions.
  
 Methods: Efforts will be made to organize and integrate risk management datasets into an effective Management Information System (MIS) or bank core system. Additionally, this study will emphasize the integration of risk management and monitoring activities as crucial components of a robust internal control system. By doing so, managers will be equipped to maintain effective internal control functions over time.
  
 Results: The results of this study are yet to be determined. However, it is anticipated that the proposed solutions and suggestions will contribute to enhancing the control mechanisms of commercial banks, particularly in the context of risk management. By integrating risk management datasets and activities into the internal control system, banks may experience improved efficiency and effectiveness in managing risks.
  
 Conclusion: In conclusion, the integration of effective risk management practices within the internal control framework of commercial banks is essential for ensuring stability and resilience in the face of financial uncertainties. This paper underscores the importance of proactive measures in enhancing control mechanisms, particularly in the context of evolving banking landscapes. Through the implementation of the proposed solutions, banks in Thai Nguyen and beyond may fortify their risk management practices and bolster overall operational resilience.