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GB/T 42422-2023: Financial institution risk management - Framework
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| GB/T 42422-2023 | English | 199 |
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Financial institution risk management - Framework
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GB/T 42422-2023
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Basic data | Standard ID | GB/T 42422-2023 (GB/T42422-2023) | | Description (Translated English) | Financial institution risk management - Framework | | Sector / Industry | National Standard (Recommended) | | Classification of Chinese Standard | A11 | | Classification of International Standard | 3.06 | | Word Count Estimation | 10,157 | | Date of Issue | 2023-03-17 | | Date of Implementation | 2023-03-17 | | Issuing agency(ies) | State Administration for Market Regulation, China National Standardization Administration | GB/T 42422-2023: Financial institution risk management - Framework---This is a DRAFT version for illustration, not a final translation. Full copy of true-PDF in English version (including equations, symbols, images, flow-chart, tables, and figures etc.) will be manually/carefully translated upon your order.
ICS 3.06
CCSA11
National Standards of People's Republic of China
Risk Management Framework for Financial Institutions
Released on 2023-03-17
2023-03-17 Implementation
State Administration for Market Regulation
Released by the National Standardization Management Committee
table of contents
Preface I
1 Scope 1
2 Normative references 1
3 Terms and Definitions 1
4 Basic Requirements 1
5 Risk Management Principles 1
5.1 Compatibility principle 1
5.2 Full coverage principle 1
5.3 Independence principle 1
5.4 Effectiveness principle 2
5.5 Foresight Principle 2
5.6 Principle of Compliance 2
5.7 Principle of least impact 2
6 Risk Management Framework 2
6.1 Risk Governance Framework 2
6.2 Risk management strategy, risk appetite and risk limit 2
6.3 Risk Management Policies and Procedures 3
6.4 Stress Test 3
6.5 Risk management information systems and data quality4
6.6 Internal Control and Internal Audit 4
6.7 Emergency Mechanism 5
Reference 6
foreword
This document is in accordance with the provisions of GB/T 1.1-2020 "Guidelines for Standardization Work Part 1.Structure and Drafting Rules for Standardization Documents"
drafting.
Please note that some contents of this document may refer to patents. The issuing agency of this document assumes no responsibility for identifying patents.
This document is proposed and managed by the National Financial Standardization Technical Committee (SAC/TC180).
This document is drafted by. China National Institute of Standardization, China Financial Education Development Foundation, Beijing Fund Town Management Committee, CICC
Financial Certification Center Co., Ltd., Central University of Finance and Economics, Agricultural Bank of China Co., Ltd., Bank of Communications Co., Ltd., Industrial and Commercial Bank of China
Bank Co., Ltd., Bank of China Co., Ltd., China Banking Association, Beijing Institute of Financial Informatization Co., Ltd., China
China Construction Bank Co., Ltd., Guotai Junan Securities Co., Ltd., Shanghai Information Security Evaluation and Certification Center, Tsinghua University.
The main drafters of this document. Huang Shuai, Yang Ziqiang, Wang Weiwei, Li Xiaohui, Zhou Yichen, Wei Anji, Xie Zongxiao, Li Jian, Wang Hui, Gou Qin, Guo Jianguang,
Jiang Fuwei, Chen Ying, Wu Kai, Shi Xiuhong, Xie Ting, Xu Hongxi, Huang Yizhen, Wang Xun, Li Kuan, Yang Xi, Li Lin, Bian Peng, Yu Feng, Li Hongda, Wang Bolu,
Wu Dagang.
Risk Management Framework for Financial Institutions
1 Scope
This document stipulates the basic requirements for risk management of financial institutions, and establishes the principles and framework of risk management.
This document is applicable to the construction and practice of the risk management system of financial institutions. Local financial organizations can refer to this document to develop risk management system
Construction and risk management practice.
2 Normative references
The contents of the following documents constitute the essential provisions of this document through normative references in the text. Among them, dated references
For documents, only the version corresponding to the date is applicable to this document; for undated reference documents, the latest version (including all amendments) is applicable to
this document.
GB/T 42339-2023 Risk Management Terminology for Financial Institutions
3 Terms and Definitions
The terms and definitions defined in GB/T 42339-2023 apply to this document.
4 Basic requirements
Financial institutions should establish a sound risk management system, formulate risk management strategies, use risk management methods and tools, and
Risk preference, control and management of credit risk, market risk, liquidity risk, operational risk, country risk, reputation risk, strategic risk
risk, information technology risk, compliance risk, bank book interest rate risk, insurance risk, cross financial risk, information security risk, conduct risk
The risk management system is regularly evaluated, and the risk management work is improved according to the evaluation results.
5 Risk Management Principles
5.1 Compatibility principle
Risk management is adapted to the risk status and systemic importance of financial institutions, and adjusted according to environmental changes.
5.2 Principle of full coverage
Risk management covers all businesses of financial institutions, all branches, affiliates, departments, positions and personnel, all types of risks and different
The interaction between risk and risk runs through all management links including decision-making, implementation and supervision, and strengthens the relationship between financial institutions and shareholders and actual
Control the management of related transactions between people and others to prevent moral hazard.
5.3 Principle of Independence
The risk management organizational structure is independent of other business lines, giving the risk management line sufficient authorization, human resources and other resource allocation.
Establish a scientific and reasonable reporting channel.
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