Kazakhstan

Track Record

Operational Risk Management – Bank Turan Alem (BTA)

Financial Access was mandated to review the Operational Risk Management (ORM) Framework in place at BTA Bank’s Head Office in Almaty, and to prepare the bank’s risk management organisation and ORM team for a bank-wide rollout of an effective ORM framework. The results of the preliminary scan and overall risk self assessments have delivered startling and important results which were presented to the bank’s senior management. This project came too late in the economic and political crisis circumstances faced by BTA to have a fully beneficial impact, however much concrete was achieved at operational level in the bank. Perhaps more importantly, the high-level risks assessment conducted was innovative in form and has demonstrated for us the value of particular risk assessment techniques, of special relevance in stages of crisis where stabilisation should still be possible.