Yushkova S.D.Financial University under Government of Russian Federation, Moscow, Russian Federation SYushkova@fa.ru
Importance Credit processes are one of the central cores of economy of any State. The innovation development policy adopted by our government requires modernization of interaction between banks and enterprises. In this context, the elaboration and implementation of new instruments of credit process organization control are rather relevant. Objectives The objective of the study is to describe approaches to organization of control processes in the sphere of lending based on the quality standard of banking business, which has been developed by the Association of Russian Banks. The task is to analyze macro- and microeconomic factors affecting the credit sphere in Russia, and the methods of building a business process of lending for control purposes. Methods The study evaluates the factors affecting various aspects of banks' and enterprises' activities with the help of analytic methods. I have analyzed the methods of implementing the quality standard in the credit process of a bank for the purpose of business process modernization. Results I have identified the risk groups and main problems related to lending sphere development, including innovation. I have formulated proposals to adapt the quality standard of the credit process organization in banks to build the comprehensive control system. Conclusions and Relevance I conclude that in conditions of turbulence, the Russian economy has to develop taking into account a number of limitations. Credit processes are the most sensitive to changes, and they accumulate the main risks. That is why, it is important to upgrade credit processes and implement new instruments that enable to improve control over business processes according to the task of new forms of lending development. Standardization helps to specify the key points of risk-oriented control, to adjust the system of end-to-end assessment and monitoring of work with loans, and to establish interrelation with strategic goals announced by a credit organization.
Keywords: credit, business process, lending, control, methodology, quality standards, audit
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