This three-day intensive training has been developed intentionally to meet the demand of microfinance organizations (MFIs) in special knowledge and skills in managing operational risks. A member of MFI board, a director, a finance manager, or a loan officer - everyone can find something useful in the training materials, something that will improve their performance and make it more successful.
This course has been developed by microfinance experts at the Russian Microfinance Center and some invited specialists. The development of this training has been supported by Citigroup Inc.
As MFIs grow, effective internal control becomes more and more necessary to maintain their life long-lasting. To remain in competitive position MFIs improve their products and widen the borders of their activity, however rapid growth is connected with new risks and challenges. Internal control is an integral component of risks management. The mechanisms of internal control are aimed at improving the process of taking decisions, providing precise, full and up-to-date information for management and board of MFI could react to the problems as soon as they appear.
Brief course content overview:
- Risks connected with microfinance activity
- Evaluation of risks in MFI
- Internal control system - one of the ways of controlling the efficiency of MFI activity
- Goals, objectives, and functions of internal control
- Priority areas of internal control in MFI
- Internal control on typical business processes
- Internal audit as a part of internal control system
- Goals, objectives, and functions of internal audit
- Differences between internal and external audits
- Methodology of internal audit in MFI