Milan Sekulić

Business control expert

It’s a known fact that not everything can be foreseen by laws. Amendments and changes of law, their adjustment to current situation and need are continuous process conducted by control authorities.

In banks and other financial institution, the business, on one hand, is done in accordance to laws; and on the other hand, in accordance to bank policy, internal procedures, statutes and work instructions. Necessarily, this topic is to be constantly changed, adjusted and corrected.
Assumption is that all managers are qualified and that they all have on their disposal internal acts guiding their activities.

The question remains wheatear this is sufficient. My opinion, based on years of experience in control and supervision of business networks of banks, is that manager qualifications and quality internal regulations are just the foundation for successful business of branches. Nevertheless, without continuous education of all other employees, application of procedures could be easily or wrongly interpreted and so inadequate decisions and acts could be made; mostly regarding possible mobbing and prevention of internal or external frauds and abuses. Internal procedures regulate the acts, but there is not enough explanation why those acts are regulated as such and how to prevent unauthorized internal acts and eventual external abuses. This issue is treated with applicable solutions and systems of internal control in banks, but that is insufficient. It is obligatory to inform the employees about their jurisdictions and responsibilities and to raise the awareness regarding the importance of control procedures; to educate them about risky processes and acts.


Milan has spent his career in the largest banks in Serbia, first in Beobank and than in National Bank of Serbia, Delta Bank and Intesa Bank. He held various positions in these institutions; from Internal Control Inspector and consultant for Internal Control Sector, up to Team Leader in Control Sector and Head of Control Sector for Network Business in Intesa Bank. He has held numerous trainings, workshops and lectures for branch managers, controllers and cashiers.

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