Skip to main content

Ghana Intl Bank facilitates EWRA training for African banks

 


Ghana International Bank (GHIB) has facilitated an Enterprise-Wide Risk Assessment (EWRA) training programme for over 50 bankers across Ghana, Gambia and Sierra Leone.

EWRA is a comprehensive statement for financial crime risk management at an enterprise level with the purpose of helping you identify, assess and analyse key business risks—and minimise negative business impacts if those risks come to pass.

The three-day workshop organised in Accra aimed to deepen banks' knowledge of EWRA from a financial crime perspective.

It also formed part of GHIB's comprehensive plan to work closely with banks in the African sub-region to implement robust financial crime risk management systems.

The Chief Banking Officer of GHIB, Ophelia Atttobrah, explained to the media that the bank had observed that Enterprise Risk Assessment (ERA) was a key deficiency for many of the banks, hence the training.

In line with our vision to be the most compelling UK bank that focuses on Africa, we deemed it important to take the initiative to support some of these banks in upskilling in the EWRA area.

This training aims to give them the necessary skills to understand how best to assess the enterprise, including products, customers, operational regions, policies and procedures, ensuring that they meet global or international financial crime anti-money laundering regulatory standards".

Managing risks

The Country Representative, Ghana, and Head of Client Coverage, Africa, Baafuor Ohene Abankwa, added that the programme would enable banks to put in place the right measures to manage risks and safeguard revenues.

"In today's banking world, banks need to properly assess the risks they face to ensure they do not lose revenues.

This training will equip them to assess risks from a financial crime-based point of view.

Once that is done properly, banks will be confident that revenues will not be lost due to the crystallisation of certain kinds of risks.

We hope that the banks will be able to examine everything, assess the risks they face thoroughly, and implement proper measures to manage them effectively, preventing the risks from materialising and causing financial losses," he said.

The Director of Financial Stability Department at the Bank of Ghana, Dr Joseph France, said the programme was timely because it played a crucial role in correspondent banking in cross-border transactions.

The need to understand the EWRA methodology and apply it appropriately to comply with the requirements of correspondent banking cannot be over-emphasised, given the crucial role of correspondent banking in cross-border transactions and the need to prepare adequately for the third round of mutual evaluation,” he said.

He expressed the hope that participants will leverage the opportunity to equip themselves with the required competencies in EWRA methodology to ensure utmost compliance with the requirements of correspondent banks.

 

Comments

Popular posts from this blog

Nestlé Ghana Limited Wins Overall Best Industrial Company Of The Year at 13th AGI Industry & Quality Awards

  Nestlé Ghana Limited has been honored with four prestigious awards at the 13th Association of Ghana Industry and Quality Awards ceremony. The event, held in an esteemed setting, gathered prominent figures from Ghana’s industrial sector. Amidst the anticipation, Nestlé Ghana emerged as one of the evening’s notable winners, securing accolades in several key categories. This recognition underscores Nestlé Ghana’s relentless pursuit of excellence and innovation, marking a significant milestone that highlights the company’s substantial contributions to the manufacturing industry in Ghana. Nestlé Ghana's exceptional performance was acknowledged with the following awards: Overall Best National Quality Award, Diamond Category (Food) Overall Best Practices in Sustainable Manufacturing Best Company (Food Sector) Overall Industrial Company of the Year, affirming its status as a leader not only within the food sector but also across Ghana's entire industrial landscape. This success is a ...

Anglogold Ashanti Obuasi Mine tops 2024 Sustainability & Social Investment Awards

 AngloGold Ashanti Obuasi Mine has confirmed its status as sustainability champions by sweeping nine awards, the most won by a company at the 2024 Sustainability & Social Investment Awards (SSI) held at Movenpick Ambassador Hotel in Accra. The feat comes on the heels of a dominant performance in last year's event where AngloGold Ashanti Obuasi Mine swept seven awards. The SSI Awards organised by Ianmatsun Global Services recognizes the most outstanding sustainability, Corporate Social Responsibility (CSR), Environmental, social, and governance (ESG) initiatives in the country and beyond as well as the best teams and individuals who brought them to life. This year's event, which was the 8th edition, was under the theme "Climate Action Now: Accelerating Decarbonization and Building Resilience". The awards won by AngloGold Ashanti on the night include SSI Company of the Year, Best Company in Women Empowerment (project), SSI Company of the Year ( Environment), Best Co...

Zoomlion Advocates Community & Gender inclusive waste management for Climate Action at COP 29

 Africa's waste management giant, Zoomlion Ghana Limited has advocated for an integrated approach to waste management that considers the interest of community members, women and vulnerable groups. James Deku, a Communications Officer of Zoomlion Ghana Limited made this call at the 29th session of the Conference Of Parties (COP 29) of the United Nations Framework Convention for Climate Change (UNFCCC) at Azerbaijan, Baku whiles speaking on the topic "Community-Driven and Gender Inclusive approaches to waste management for Climate Action ". He said the waste sector is a major contributor of methane emissions which is a potent greenhouse gas causing climate change hence the need to manage waste in a manner that considers the interest of all stakeholders. Zoomlion's waste management model is designed and operated in a manner that considers the interest of all stakeholders. Through a Public Private Partnership (PPP) model, local authorities engage community members in clea...