Corporate Governance

Corporate governance in the National Bank relies on a three lines model that contributes to the efficient and effective implementation of the strategic goals, mandate and vision.

The first line consists of organizational units that operate the main and auxiliary functions, manage operational risks and profoundly understand work processes and changes in the environment in areas within their competence.

The second line, the Strategy and Prevention Office, deals with risk identification, analysis and management, performs training, advice, controls and monitoring, raise awareness among employees about risks, control mechanisms and measures, as well as about application of regulations.

The third line, Internal Audit, audits the operations of the first and the second lines, in terms of compliance with the legislation, bylaws and internal regulations, reliability of financial and other information, as well as the effective and efficient use of assets and resources.

Internal audit

Information on conducting internal audit in the National Bank of the Republic of North Macedonia

Strategy and Prevention Office

In 2019, the National Bank established the Strategy and Prevention Office, as an independent organizational unit within the three lines model. The Strategy and Prevention Office encompasses three functions:

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)