AUDIT OF RISK MANAGEMENT SYSTEM IN CONSUMER LENDING

Risk management is an important part of any business. An incorrect or inadequate organization of risk management can lead to significant losses. One of the components of fine-tuning of risk management is its audit. The essence of risk management audit is the estimate of its effectiveness. This article considers the logic of risk management audit in consumer lending. The proposed logic of the audit is based on the use of information from credit bureaus. At the same time, we structure risk management in consumer lending into three components: loans granting process, monitoring of active credit portfolio, and operations with overdue loans. To audit each of the components, we introduce different audit methods based on the use of data from credit bureaus. Using this data allows creditors identify inefficient elements in risk management and facilitates their improvement.