IIB delegation takes part in proceedings of international forum “Risks and opportunities in the CEE-CIS financial sector”
A delegation of the International Investment Bank consisting of the Director of Risk Department Mr Milan Valasek and a representative of Customer Relations Department, Mr Balazs Vertes, took part in the 36th forum of the Banking Association of Central and Eastern Europe (BACEE), which, as usual, was held on 16-17 April in Budapest (Hungary). The IIB once again supported this high-profile international event, becoming its "golden sponsor".
This representative business forum brought together executives and top managers of government structures, regulators, international and national development banks, leading commercial banks and investment companies to discuss the most relevant topics of concern to the financial community of the European continent today. The key topics at the forum included risks, challenges and opportunities in the financial sector, relations between the CIS and EU banks, the intensification of cooperation between national and international development banks, investments in large-scale cross-border infrastructure projects, financial support for export-import operations, the digital revolution and its impact on the development of the financial sector , issues pertaining to cybersecurity, the introduction of new reporting standards, best compliance practices, and a host of others.
In his presentation “Risk Management in Multilateral Development Bank – Challenges & Opportunities”, Mr Valasek devoted special attention to key trends in the process of formation and management of an effective risk management system in international development banks (IDBs), features related to the unique supranational status of IDBs and the absence of formal regulators, presented a comparative analysis of the risk management of IDBs and commercial banks, noting the special role of rating agencies, reviewed methods used to assess IDB risks, analyzed in detail promising areas in the evolution of risk management systems in international financial institutions, highlighting their growing role in the global economy, which has been fully recognized at the G20 level.
In turn, Mr Vertes took part in a round table on ways and means to enhance the effectiveness of relations between multilateral, national and commercial development banks, where, using examples of transactions executed by the International Investment Bank, he detailed how the unique opportunities of these financial institutions harmoniously complement each other in the implementation of projects that contribute to the achievement of the sustainable development goals defined by the UN.
The International Investment Bank invariably sees participation in such events as an important part of its mandate, since the exchange of views and best practices in the solution of pressing issues for the international financial community inevitably leads to greater stability and effectiveness of the international financial system as a whole.