The Fiji Development Bank established a partnerships with Dow Jones, an agency that does risk searches on clients, which is based in Sydney, and Credit Information Reporting Agency (CIRA).
This is stated in the FDB’s 2023 annual report that was tabled in Parliament last week.
“It had also analysed more than 8400 customer details for Dow Jones to run searches for anti-money laundering (AML) compliance to align to the Reserve Bank of Fiji’s (RBF) Banking Supervision Policy Statement (BSPS),” states the report.
“The result of which will re-assign levels of risk for customers, however, the results will be available in the next financial year.
FDB said in line with the Reserve Bank of Fiji requirements, the bank’s risk division had made changes to its leadership roles by introducing a manager enterprise risk management, a manager securities role to stringently manage documentation and securities matters and a senior manager credit risk and approvals to oversee the functions of credit risk and approvals.
“The change also saw a new role as manager governance and legal created
“The roles are in conformity with the strategic direction of the division to better manage risk functions across the bank’s processes.”
