Yes Bank has become the first bank in India and among a select few globally, to be certified by British Standard Institution (BSI), United Kingdom, for Enterprise Risk Management (ERM) Framework (ISO 31000). With this accomplishment, the Bank joins the league of top multinational companies lauded for their robust risk management processes.
Yes Bank has developed an integrated comprehensive ERM framework establishing better standards in the industry for identifying, assessing, reporting and monitoring risks, among several other pioneering initiatives resulting in improvements in the efficiency of operations, effectiveness of tactics and the efficacy of the strategy of the organization.
In order to be ISO 31000 compliant, the Bank conducted comprehensive internal assessments and identified gaps to be addressed, followed by business risk assessments, documentation and implementation audits. Yes Bank was awarded Certificate of Compliance, along with a detailed Compliance report for 2017 on successful completion of the audit process.
