Application of a risk-based approach in organization of internal control in risk management system of mortgage credit lending

The need of organization and the importance of internal control in a credit institution, which would guarantee high level of reliability corresponding to the nature and scale of operations carried out, is enshrined in Russian legislation. The key aspect of internal control in a credit institution is application of a riskbased approach and this article considers the possibility of applying a risk-based approach in organization of internal control in risk management system of mortgage credit lending. The risk-based approach in internal control helps assess possible risks in achieving the strategic and tactical objectives of control institutions and develop proposals for their adjustments. The research studies the possibility and potential positive outcome of applying the risk-based approach on all stages of the internal control in risk management system of mortgage credit lending