Today Certificate award ceremony was held in National Bank of Georgia, Due to Completion of first phase of education and certification program In Risk management field.

Risk Management Certification Program was launched in Georgia in June 2011 by International Finance Corporation and Global Association of Risk Professionals – GARP.

Aim of this Program is to enable financial sector employees to enhance their risk management skills and is organized in partnership with the Global Association of Risk Professionals, a globally recognized leader in financial risk testing and certification programs, and educational and training activities.

First phase of Risk Management Certification Program considered training of local partners, who were given certificates in October 3.

Equipped with relevant skills and knowledge, the local partners will then be able to train staff of local banks and financial institutions during the second phase of the program. This training will help strengthen the capacity of local banks and financial institutions in order to reduce their vulnerability to future financial downturns.

“National Bank of Georgia is interested to enhance commercial banks with effective risk management skills. This will guarantee customers not to worry about risks, because their interests as customers will be maximally protected from risks. Exactly because of this reason, the National Bank of Georgia has carried out new reform, which will help the process of implementation risk-oriented supervision. It is important that the representatives of  Supervision Department of the NBG are involved in training program. Therefore, implementing above-mentioned program effectively, especially next and more complex stages of this program, is the NBG’s high priority “-stated Mr. Otar Nadaraia, Vice-Governor of National Bank of Georgia.

The training is organized in the scope of IFC’s Financial Crisis Response Program in Europe and Central Asia, which was launched in 2009 in partnership with the Development Bank of Austria.