BIDV Highlights
Diep D uc
Fostering risk culture at BIDV Mr. Ngo Van Dung, member of the Board of Directors of BIDV talked to BIDV Review about risk culture and its implications.
In 2020, the Board of Directors issued Resolution 534 on building risk culture at BIDV. Can you please share more about this? Looking back at BIDV’s history, the bank has made great contributions to Vietnam's economy since its inception. This has been a long and difficult
journey for generations of BIDV leaders and staffs. BIDV has achieved laudable achievements in business scale, branding and prestige in the field of banking and finance as well as social security activities. However, besides the achievements, there remain drawbacks that BIDV has definitely to overcome in the near future. Over many years of operation and development, BIDV has formulated and continuously updated operational regulations in a standardised, efficient and advanced manner to meet the economic situation of Vietnam from time to time. Nevertheless, consequences incurred during the business process that need to be addressed. Such consequences are attributed to many reasons, with the first one being the lack of or insufficient implementation of risk culture. After 2 years of survey and study and dozens of drafts at different levels, in July 2020, the Board of Directors officially issued Resolution 534, expecting to build a positive and responsible working environment from senior leaders to officers. This is the highest goal specified in the resolution. In order to meet this expectation, risk culture must be developed professionally so that both leaders and officers can practice in their day-to-day work.
So what is the role of risk culture in the current business environment? Banking business is risk-based and bank's risks are the total risks of the
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B I D V review
