SANTO DOMINGO. – Banco Popular Dominicano formalized its entry as a protecting member in the Premium category of the Risk Management Club of the Dominican Republic (CGRRD), a non-profit organization that promotes a culture of risk, research, specialized training, contrasting opinions on local and international regulations, and best practices in risk management for financial companies.
Thanks to the signing of this agreement, which took place at the corporate headquarters of Torre Popular, Banco Popular takes another step to strengthen its risk management and the prudential vision that has characterized its institutional trajectory for almost six decades, the financial institution explains in a press release.
In this regard, Felipe Suárez, Executive Vice President of Integrated Risk Management at Banco Popular, explained that the financial organization adheres to the highest international standards regarding financial and non-financial risks, and that this membership as a Premium Protecting Member in the CGRRD opens the opportunity to continue increasing training, skills development, and specialization of employees in this area.
“We are an organization that adheres to best practices in risk management. With our entry, we will continue to promote this culture through the exchange of ideas and experiences that facilitate the adoption of international standards in the country and enhance risk management for the strengthening of financial institutions,” he stated.
For his part, the president of the Dominican Republic's Risk Management Club, Carlos Rijo Montás, said, “It is necessary to convey the message of the importance of comprehensive risk management to financial institutions, which is key to maintaining sound financial performance and the economic well-being of the country and society. With this important agreement, we are taking a firm step toward achieving the Club's main objectives and contributing to the maturity of risk management in financial institutions in general.”
As part of its principles of good governance, Banco Popular has comprehensive and up-to-date processes for managing the various types of risks to which a financial institution may be exposed, as well as adequate information systems and special committees that are responsible for designing, evaluating and implementing policies to control and mitigate the identified risks.
The fundamental objectives of the CGRRD are to carry out research and analysis on the different methodologies for the management, control and monitoring of risks in economic activity, to promote the adoption of international best practices; it is also established as a meeting point and forum for debate to promote the culture of risk and the digital transformation of the industry, through specialized working committees maintaining contacts at the local and international level.
