On June 16, SBI Savings Bank announced that it has completed the establishment of its accountability structure and internal control system, entering a pilot phase. The official rollout is scheduled for July 2.
To build and implement the accountability structure, SBI Savings Bank collaborated with Samil PwC for approximately four months starting in July of last year. This partnership laid the groundwork for the accountability framework and completed the design for an internal control system capable of managing responsibilities. The goal is to mitigate risks associated with violations of financial regulations by establishing a clear accountability structure and corresponding internal control measures.
During the pilot phase, employees will clearly understand the standards and procedures for fulfilling their management obligations under the accountability framework. Starting in July, the bank plans to actively manage compliance with these obligations through the internal control system.
This initiative is expected to further strengthen the internal control framework and make employees' compliance activities more efficient and systematic. Additionally, the bank plans to promote the automation of various operational checks through further system enhancements in the second half of the year.
A representative from SBI Savings Bank stated, "The introduction of the accountability structure and the establishment of the internal control system will enhance organizational transparency and accountability. This will not only help secure customer trust but also serve as a crucial step in reinforcing our foundation for sustainable ethical management."
* This article has been translated by AI.
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