The corporate governance in the National Bank relies on the model of three lines of defense, which contributes to the efficient and effective realization of the set strategic goals, mandate and vision.
The first line of defense consists of organizational units, which operationally perform the core functions and support functions, manage the risks arising from their work and which have the deepest understanding of the work processes and changes in the environment in the areas within their competence.
The second line of defense is carried out by the Strategy and Prevention Office through identification, analysis and risk management, training, advice, controls and monitoring, as well as raising awareness among employees about the risks, control mechanisms and measures, as well as the manner of the regulation is implemented in their operations.
The third line of defense, the internal audit, conducts audit activities of the operation of the first and second line of defense, in terms of compliance with the legislation, bylaws and internal regulations, the reliability of financial and other information, as well as the effective and efficient use of assets and resources.
Information on conducting internal audit in the National Bank of the Republic of North Macedonia
Strategy and Prevention Office
In 2019, Strategy and Prevention Office was established in the National Bank, as a separate independent organizational unit within the model - three lines of defense.
The Strategy and Prevention Office encompass three functions:
Strategy and Operational Risks Function (SORF)
Information Security, Personal Data Protection and Classified Information Function (ISF)
Compliance function (CF)