Operational Risk Admission and Product Governance Committee

Operational Risk Admission and Product Governance Committee

Type of Committee: Main Committees

Subcommittee Type: Orientation / Coordination

Committee's Aim / Responsibilities: The Committee, aims to identify, analyze and evaluate the operational risks associated initiatives related with new business, products or services, outsourcing, process transformation and new systems , prior to it is launch. The Committee will give an opinion about the feasibility of the initiatives before they are materialized, as well as on their following-up. The Committee assesses the inherent risks of the initiatives and defines the necessary controls and risk mitigation measures to ensure that residual risks are within the established risk appetite framework.

The Committee's responsibilities are;

• • Analyze and decide on new business, product and service offers,
• • Analyze the viability of outsourcing offers and decide on outsourcing offers,
• • Analyze and decide on feasibility of other offers including technological and process reengineering and vendor assessment,
• • Decide on the insurance framework of operational risks arising from initiatives, reviews, analyzes and approves insurance policy structures,
• • To ensure the correct implementation of the initiative; evaluate the results of monitoring activities for at least 12 months after the implementation of the initiative(in this context, the Committee shall revoke approval of a previously approved Product, or an existing product or service, or block the implementation of a Product or continued use of a Product),
• • To ensure that, as appropriate, the unit managers of the relevant business line and the responsible senior management and the Board Risk Committee are informed about the discussions held and the decisions taken,
• • Monitor the policies, procedures, regulations and similar documents under its responsibility with respect to necessary updates, and taking action to keep them up-to-date.

Committee History: Established on November 2016. It was updated in March 2019 and its name and responsibility were changed. In April 2021, the roles and responsibilities of the Committee were transferred from the Internal Capital and Operational Risk Department to the Internal Control Unit.

Meeting Frequency: The Committee meets at least once a month to fulfill its duties. If there is no agenda, the meeting may not be held or more frequent meetings may be held when necessary.

Number of Meetings (2024): 12 meetings were conducted. (January, March (2 meetings), April, May, June, July, August, September, October, November, December)

Number of Meetings (2025): 12 meetings have been planned.

Committee Members 

*Participates in the meetings of the Committee as an observer and does not have the right to vote.