Bank of Namibia

Risk Management and Assurance


Find out more about Risk Management and Assurance.

Risk Management and Assurance

The individual Risk Management and Assurance Division focuses on risk management, internal audit, business continuity and compliance management.

The internal audit is an independent and objective assurance and consulting function. It evaluates the effectiveness of risk management, control, and governance processes through a systematic and disciplined approach, designed to improve and add value to the Bank's operations. The Chief Internal Auditor, as head of the internal audit function, reports administratively to the executive leadership of the Bank and functionally to the Chairperson of the Audit Committee, which reports to the Board of Directors with unrestricted access to the Chairperson of the Board of Directors.

Risk management is an independent review function within the Bank of Namibia. It is responsible for determining key risks to the Bank, and for examining and evaluating the adequacy and effectiveness of the risk management system and the present internal controls intended to protect the Bank from such risks.

Business continuity which is a subset of risk management is responsible for ensuring the continuance of service to customers in the event of unforeseen operational disruptions with minimal inconvenience.

Within the Bank, each department is responsible for implementing and maintaining compliance management processes to ensure compliance with all relevant legislation, standards, internal policies and procedures, contractual obligations and rights, and agreements. Compliance management is responsible for managing training and reporting components of every departments’ compliance management process.

Similar services are provided to the Financial Intelligence Centre (FIC), the Namibia Deposit Guarantee Authority (NDGA) and the Sovereign Wealth Fund.

The primary objective of the Division is to assist the Bank’s management and Board of Directors in the effective execution of their responsibilities.


For general Risk Management and Assurance Division enquiries, contact the Head of Risk Management and Assurance at:

     Tel: +264 61 283 5057
Ms. M. Tjongarero - Head of the Risk Management and Assurance Division - Bank of Namibia
Ms. M. Tjongarero

Head of the Risk Management and Assurance Division

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