Ghana International Bank Leads Enterprise-Wide Risk Assessment Training for African Banks

Ghana International Bank (GHIB), a UK-incorporated bank with deep roots in Ghana, Ghana, and Sierra Leone, organized a three-day Enterprise-Wide Risk Assessment (EWRA) training program for over 50 bankers from these countries. This workshop, held in Ghana, is aimed at enhancing banks’ understanding of EWRA from a financial crime perspective as part of GHIB’s plan to bolster financial crime risk management systems in the African sub-region.

Importance of EWRA for African Banks

Ophelia Atttobrah, GHIB’s Chief Banking Officer, emphasized the significance of EWRA for banks in Africa. She explained that GHIB recognized the need to assist some of these banks in their upskilling efforts, particularly in the EWRA domain, as part of their mission to be the most compelling UK bank focusing on Africa. The training aimed to provide them with the skills and knowledge to assess their enterprises holistically, ensuring they comply with international financial crime anti-money laundering regulatory standards.

Baafuor Ohene Abankwa, GHIB’s Country Representative in Ghana and Head of Client Coverage Africa, echoed Atttobrah’s sentiments. He emphasized the importance of risk assessment in modern banking, which is paramount to safeguarding revenues. With this training, banks will gain the ability to assess risks from a financial crime perspective, giving them confidence that their revenues are secure.

Timing and Significance of the Program

Dr. Joseph France, Director of the Financial Stability Department at the Bank of Ghana, praised the timing of the program, emphasizing its importance for correspondent banking and cross-border transactions. He urged all participants to take advantage of this opportunity and acquire the necessary competencies in EWRA methodology to maintain compliance with correspondent banks’ regulations.

• Importance of the program for correspondent banking and cross-border transactions: Correspondent banking plays a significant role in cross-border transactions, and mastering the EWRA methodology and its application in correspondent banking is crucial.

• Preparation for the third round of mutual evaluation: The need to prepare for the third round of mutual evaluation necessitated acquiring the necessary skills and knowledge in EWRA methodology.

Conclusion

This three-day EWRA training provided an excellent opportunity for banks to upskill and align with international financial crime anti-money laundering regulatory standards, securing their revenues in the modern banking landscape.

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