Risk Management Maturity Assessment at Central Banks

28 Pages Posted: 23 Jan 2020

See all articles by E Chamoun

E Chamoun

International Monetary Fund (IMF)

Nicolas Denewet

International Monetary Fund (IMF)

Antonio Manzanera

International Monetary Fund (IMF)

Sanjeev Matai

International Monetary Fund (IMF)

Date Written: December 2019

Abstract

Effective risk management at central banks is best enabled by a sound framework embedded throughout the organization that supports the design and execution of risk management activities. To evaluate the risk management practices at a central bank, the Safeguards Assessments Division of the IMF's Finance Department developed a tool that facilitates stocktaking of elements that are present and categorizes the function based on its maturity. Tailored recommendations are then provided to the central bank which provide a roadmap to advance the risk management function.

Keywords: Central banks, Risk management, Central bank operations, Central bank governance, External audit mechanism, maturity assessments, WP, risk management practice, risk management function, maturity level, central bank, maturity

JEL Classification: E58, G21, M42, K2, G32, E62

Suggested Citation

CHAMOUN, E and Denewet, Nicolas and Manzanera, Antonio and Matai, Sanjeev, Risk Management Maturity Assessment at Central Banks (December 2019). IMF Working Paper No. 19/303. Available at SSRN: https://ssrn.com/abstract=3524322

E CHAMOUN

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Nicolas Denewet (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Antonio Manzanera

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

Sanjeev Matai

International Monetary Fund (IMF) ( email )

700 19th Street, N.W.
Washington, DC 20431
United States

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