The most important responsibility for the department is to be prepared to pay out guaranteed deposits within one week, if a bank were to be placed under public administration. Preventive work is also a priority. The purpose of this work is to contribute to member banks conducting appropriate risk management, and operate their business in compliance with law and regulations.

The department of Analysis and Contingency has the following responsibilities and duties:

  • Develop and maintain contingencies plans
     
  • Calculation and collection of membership fee from the banks
     
  • Preventive work: 
     
    • analysis of members' accounts using key ratios for different size groups of banks
       
    • identify and assess risk management procedures and compliance with internal procedures in selected banks
  • Answering inquiries from the public about the guarantee scheme coverage etc.
     
  • Professional courses for member banks

In a situation with uncertainty whether one or several member banks are able to meet their financial obligations, the department should;

  • Evaluate various prevention measures, including assessing whether the Guarantee Fund should provide support measures to ensure that a bank is able to meet its obligations and continue operations
     
  • Pay out guaranteed deposits if a bank is placed under public administration
     
  • Answering inquiries from the public

Director Sonja Lill Flø Myklebust is the head of the department of Analysis and Contingency. The department has in total eight full time employees.