Our work is critical to
ensuring that the Bank
can fulfil its mission
A number of other units provide key internal support services to the organisation. They comprise:
The Legal Service provides advice to the Bank, drafts and reviews documentation and participates in the decision-making processes on a wide range of issues relating to the Bank's activities, including institutional issues, immunities of the Bank, banking operations, compliance matters, issues relating to the administration of the Bank (eg human resources, buildings, IT systems), risk management and litigation. The Legal Service also fosters cooperation on legal matters of interest to the central banking community and provides assistance to the central banks on specific legal issues.
Risk Control plays a key role in managing the financial risks associated with the BIS's own banking activities. The unit formulates and develops the financial risk strategy and policy. Its main operational tasks are to measure, control and report the financial risks taken by the BIS and to ensure that this activity is supported by sound methodologies and IT systems.
The mission of the Internal Audit team is to ensure that the Bank's operations are conducted to the highest standards. To this end, it provides an independent, objective assurance function and advises on best practice, taking a systematic and disciplined approach. Activities reviewed include risk management, internal controls and information systems and governance processes.
Compliance is an independent function that identifies, assesses, monitors and reports on compliance issues.
The Operational Risk Unit has a Bank-wide coordinating and monitoring role and, along with other supporting specialist services and units, supports the Bank's business areas in managing operational risk.
