Vietnam Banks Association debuts its Risk Committee

Speaking at the event, Dr. Nguyen Quoc Hung, Vice Chairman cum General Secretary of VNBA, emphasized the advisory role of the Committee to the Association Council in developing policy recommendations and risk management strategies. The Risk Committee plays a very important role in the activities of the Vietnam Banking Association and its member organizations, especially in the current period. According to Mr. Hung, the establishment of the Risk Committee is a testament to the determination of VNBA and its member organizations in proactively preventing, identifying, managing and promptly handling all risks, in order to protect the interests of customers and contribute to ensuring the security and safety of the credit institution system.

According to the announced decision, Mr. Le Thanh Tung - Member of the Board of Directors of VietinBank, holds the position of Chairman of the Committee. The four Vice Chairmen of the Committee include leaders from Agribank, BIDV, Vietcombank and MBBank. The term of office of the Chairman and Vice Chairmen is 2.5 years.

The Risk Committee was established based on the foundation of the previously effective Risk Club. The Committee consists of 15 members who are senior leaders and leading experts in risk management from major banks such as VietinBank, Agribank, BIDV, Vietcombank, MBBank, Techcombank, ACB, Sacombank, etc.

In his acceptance speech, the new Chairman of the Committee, Le Thanh Tung, said that this is an honor but also a great responsibility. The members of the Risk Committee pledged to carry out their work with the highest sense of responsibility, striving to successfully complete the goals and tasks assigned by the Vietnam Banking Association. “With the support and companionship of the State Bank of Vietnam, management agencies and the Association's Standing Committee; with the experience, capacity, initiative and responsibility of the Risk Committee members and member organizations, the Risk Committee's activities will be substantive, effective and of high quality, contributing to improving the resilience and risk management capacity of the banking system," said Mr. Le Thanh Tung.

Mr. Le Thanh Tung pledged to carry out the work with the highest responsibility, and at the same time presented the action plan for the period 2025 - 2027 with 3 main pillars: Policy consulting, contributing to perfecting the legal corridor (such as Circular 13, Circular 41); Organizing seminars, training, sharing techniques and international practices; Promoting risk identification, prevention, and improving governance capacity for the entire system.

In his congratulatory speech, Mr. Nguyen Duc Long, Director of the Department of Credit Institutions System Safety (State Bank of Vietnam), welcomed the establishment of the Committee. He said that the State Bank of Vietnam will continue to deploy monitoring tools to assess the level of compliance of banks, especially according to Basel III standards.

With the gathering of leading experts and a clear action plan, the VNBA Risk Committee is expected to become a solid "shield", helping the Vietnamese banking industry improve its resilience and competitiveness in the new period.

Immediately after its launch, in the same morning, the Risk Committee organized a workshop on “Enhancing banking risk management capacity: New vision from the draft amendments to the Circular No. 13/2018/TT-NHNN and the Circular No. 41/2016/TT-NHNN”.

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