2019-2020 Annual Report and Statement of Accounts

AREAS OF FOCUS

Develop a Holistic Internal Risk Management Framework In the upcoming period, the Bank will engage in the following activities: 1. Development of the Strategic Plan for the period 2021-26; 2. Enhancement of the reporting framework for the Enterprise Risk Management system, particularly at the level of the Executive Committee and Board of Directors; 3. Establishment of an Enterprise Risk Committee to deliberate on key risk issues across the Bank; 4. Further enhancement of the Bank’s Business Continuity Management System, giving due consideration to lessons learnt from recent events; and 5. Continued risk oversight for the Bank’s Fintech Pilot Project, in particular, the six-month live pilot phase. The Bank will also: 1. Implement SWIFT mandatory 2020 Customer Security Program (CSP) controls; 2. Perform the annual Penetration Testing and Vulnerability/Secure Configuration Assessment of ECCB Network; and 3. Deploy the Internet Network Resiliency Project.

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| EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2019-2020