Internal Monitoring Charter

Internal monitoring charter

Compliance charter

Internal monitoring is defined by RAWBANK as a consistent, comprehensive system comprising a set of human and technical resources whose objectives are:

• The security of transactions, assets and people
• The effectiveness and excellence of services
• The observance of legislative and regulatory provisions and of professional and ethical standards and practices
• The promotion of a strong monitoring and ethical culture
• The production and distribution of reliable and quickly available information of a high standard
• The observance of the objectives, rules and limits set by the management.

There are three levels of internal monitoring.

The first level is an immediate, systematic, continuous audit. It is intended to ensure the regularity, security and validity of all bank transactions, as well as observance of the measures associated with oversight of the risks associated with these transactions. It is carried out in every area of operations management (cash transactions, transfers, foreign exchange, documentary credit, etc.) and of functional management (human resources, office supplies, accounting, IT, etc.). It is carried out by the person responsible for the transaction and then validated by his line manager.

The second level is a systematic post audit of transactions grouped by type, which is of a permanent nature but follows an appropriate frequency. Its purpose is to check the regularity and compliance of transactions and to monitor certain specific types of risks.

The third level consists of periodic, ad-hoc or unexpected audits carried out by supervisory staff and Internal Audit. Internal Audit is also tasked with examining and assessing the effectiveness of the level 1 and 2 monitoring mechanisms, in particular how appropriate they are for the type of risks associated with the transactions.