Solomon Islands: Technical Assistance Report-Central Bank Risk Management
Technical Assistance Reports, March 27, 2026
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- Solomon Islands: Technical Assistance Report-Central Bank Risk Management
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Bibliographic details
- Published: March 27, 2026
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798229042222.019
Summary
- The Central Bank of Solomon Islands (CBSI) has received sustained IMF technical assistance since 2021 to strengthen its enterprise-wide risk management framework.
- Objective of the 2025 onsite mission: conduct an independent assessment of CBSI’s progress in implementing recommendations from previous reports.
- Mission provided technical guidance on:
- implementation of the Three Lines Model,
- business continuity management,
- good practices for interaction with internal audit.
- Purpose: support CBSI in maturing enterprise risk management to better safeguard the organization and contribute to strategic decision-making.
- A follow-up technical assistance mission, including an Executive and Board workshop, is recommended within 18–24 months.
Progress and Institutional Measures
- Notable advances made by CBSI:
- Establishing the Risk Management Committee.
- Approving and launching the Enterprise Risk Management Policy.
- Developing a draft Business Continuity Management Plan.
- The mission team conducted an independent assessment of implementation progress and provided targeted technical guidance on selected areas listed above.
Remaining Gaps and Recommendations
- Despite modest but meaningful advances, gaps remain in CBSI’s enterprise-wide risk management framework.
- Recommended next steps:
- Conduct a follow-up technical assistance mission within 18–24 months.
- Include an Executive and Board workshop as part of the follow-up mission.
- Continue implementation support for the Three Lines Model, business continuity management, and interaction protocols with internal audit.
Subject Areas and Keywords
- Subject: Auditing, Central bank risk management, Central banks, Crisis prevention, Financial crises, Financial regulation and supervision, Internal audit, Operational risk, Public financial management (PFM)
- Keywords: Auditing, Cbsi officer, Central Bank Risk Management, Crisis prevention, Enterprise Risk Management, IMF publication, IMF Technical Assistance, IMF's Monetary and Capital Markets Department, Integrated Risk Reporting, Internal audit, Operational risk, Risk Appetite Statement, Risk Management Committee., staff of the Central Bank of Solomon Islands, technical assistance provider, Three Lines Model