August 28, 2019 | The Asian Banker
- The Global Risk Mitigation Management System (GRMS) can achieve credit risk mitigation instruments’ coverage of all branches of Bank of China
- The implementation of GRMS carries out whole-life cycle management of collaterals
- GRMS maintains over 300 system operation and maintenance personnel in corporate banking and retail banking
Beijing, July 25th, 2019—Bank of China awarded Enterprise Risk Technology Implementation of the Year at The Asian Banker China Awards 2019. The awards ceremony was held in conjunction with The Asian Banker Finance China 2019, the foremost annual meeting for decision-makers in the financial services industry in the Asia Pacific region, held at the Ritz-Carlton (Huamao Center), Beijing, China.
Standing from left: Richard Hartung, International Resource Director, The Asian Banker; Representatives from Bank of China; Wilson Chia, International Resource Director, The Asian Banker; Foo Boon Ping, Managing Editor, The Asian Banker
The Global Risk Mitigation Management System (GRMS) can achieve credit risk mitigation instruments’ coverage of all branches of Bank of China
Bank of China introduced Global Risk Mitigation Management System (GRMS) and further expand the coverage of all branches. The system allows all businesses to cooperate in transformation, as well as stablishes new batch download interfaces to download information of mitigation products.
The implementation of GRMS carries out whole-life cycle management of collaterals
GRMS achieves the centralized and unified management of group-wide mitigation instruments. It can realize information management and whole-procedure management of collaterals and pledges and guarantors in personal loan and collaterals’ computer-based control of effect of customers’ credit limits. The implementation of GRMS carries out whole-life cycle management of collaterals, avoiding the occurrence of cases of inadequate management of collaterals to a great extent and effectively reduce losses.
GRMS maintains over 300 system operations and maintenance personnel in corporate banking and retail banking
With the commissioning of the GRMS, it achieves the unified management of the bank’s margins. Through system control, the GRMS could timely find out phenomena such as failed mortgage, repeated mortgage, loan without files and unclear review procedures for authenticity of certificates of deposit to control risks.
Finance China is the leading annual conference that brings financial institutions, regulators, policy makers, services providers to meet and share professional insights, work on detailed solutions and discuss the latest trends in the industry.
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You may visit the China Awards 2019 gallery at https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10157080239284804
Ms. Moira Zhan
The Asian Banker