Sistemas de controles internos, riscos e gestão de riscos das operações de câmbio em instituições financeiras: estudo exploratório com bancos atuantes no Brasil

Abstract

Abstract: The main objective of this work is to present the importance of the components of the COSO control structure and its contribution to the improvement of internal controls and risk management of exchange operations in Financial Institutions in Brazil. The growth of Brazilian foreign trade in the last two years has increased exposure to specific risks in foreign exchange operations, as the volume of transactions carried out by banks has increased the share of this type of business in banks' total assets, mainly in granting credit to the export. In addition to the greater volume of credit operations granted to foreign exchange clients, the banks' routines were impacted by the greater number of transactions processed by the different areas of the Foreign Exchange Portfolio. Exposure to operational risks grew as a direct consequence of the increase in the volume of hiring. To assist managers in improving internal controls to make them more effective, the work presents the most relevant points in the administrative and accounting control of the Foreign Exchange Portfolio. It also brings recommendations issued by committees, rules and laws, aiming to contribute to the improvement of internal controls. It reinforces the need for everyone in an organization to be aware of the importance of the components of the internal control structure, such as: control environment; risk assessment; control activities; information and communication; and monitoring. In addition to discussing internal controls and risk management in exchange operations, the paper presents a study on the various risks to which a financial institution is exposed when operating in this market. To familiarize yourself with the foreign exchange product, a study of the main types of foreign exchange transactions entered into by banks is presented. Finally, the bibliographic research was supported by an exploratory study with banks operating in Brazil.