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|The workshop featuring the presence of BSA seniors and KPMG experts on ICAAP|
Among these requirements, the Internal Capital Adequacy Process (ICAAP) is the most critical element. While several credit institutions and foreign banks’ branches have initiated their ICAAP implementation journey, the regulator is also actively preparing for the Supervisory Review Process (SREP).
On November 28, thanks to the State Bank of Vietnam, more than 50 senior officials of the Banking Supervisory Agency (BSA) joined the workshop with KPMG, a leading professional services firm, to have a comprehensive look on the ICAAP agenda.
|As the leading firm in Vietnam, KPMG commits to supporting regulatory and credit institutions to promote a sound and healthy banking environment.|
Acknowledging that ICAAP is an important strategic regulatory requirement in Circular 13, KPMG Financial Risk Management experts, including Truong Hanh Linh – partner, Amitava Mukherjee – partner, Manpreet Rekhi – deputy director, and Pham Do Nhat Vinh – director, shared experiences and leading practices of ICAAP that have been implemented in other markets.
Many practical challenges and potential critical impacts on Vietnam’s banking system were also discussed and shared by both BSA seniors and KPMG experts, such as potential capital request, feasible approach to select stress test scenarios, as well as the integration of business and risk, among others.
As the leading firm in Vietnam, KPMG commits to supporting regulatory and credit institutions to promote a sound and healthy banking environment.
Following are some pictures about the workshop: