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Risk Management

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Risk Management is responsible for the independent management of credit and market risks arising from the Banking and Treasury portfolios, and operational risks arising in all of the EBRD’s activities. Acting as the second line of defence, risk management ensures independent and efficient risk management advice ensuring that the first line of defence is adequate and effective.


  • Primary Mission: To provide assurance to stakeholders that risk decision making in the EBRD is balanced and within agreed appetite and that control processes are rigorously designed and applied.
  • Secondary Mission: To support the EBRD business strategy through provision of efficient and effective delivery of risk management advice, challenge and decision making.

Risk Functions

Credit and Equity Risk 

The Credit and Equity Risk teams are responsible for the management of EBRD projects in the Banking book throughout the entire project life cycle.

  • Country & FI Credit (CFI) is responsible for managing EBRD financial Institutions debt transactions and is additionally charged with the assessment of country and sovereign risk. 
  • Corporate & Project Finance (CPF) is responsible for managing EBRD corporate debt transactions.
  • Equity Risk (ER) is responsible for managing EBRD equity and quasi-equity transactions (mezzanine as well as hybrid loans with variable return component).

Corporate Recovery  

The Corporate Recovery team is charged with management and work-out for impaired Banking assets and maintains a joint report to Banking management. Maximisation of recovery value is a key goal.

Treasury Credit Risk 

The Treasury Credit Risk Management team manages Credit Risk in the Treasury book.  This includes oversight of Treasury activities, Counterparty and ABS risk assessment, approval, surveillance and reporting.  

Risk Policy, Analytics & Reporting

This team has multiple functions ranging from development and maintenance of the EBRD’s risk policies and guidance procedures, quantitative risk analytics and reporting. 

Operational Risk

This unit serves as an EBRD-wide monitoring, advisory and facilitation unit, raising awareness on general risk management independent of credit or market risk.

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