Corporate control system in the Russian banking sector

Modern changes in the economy and financial system have a significant impact on the banking sector, which makes the corporate control system an essential tool for ensuring the sustainability and efficiency of banks. In the context of constant transformations caused by changing regulatory requirements, the introduction of new technologies and changes in the ownership structure, corporate control is becoming a key element of risk management and increasing the competitiveness of banks. The article considers key aspects of the corporate control system in the Russian banking sector. The purpose of the research is to study the system of corporate control in the banking sector of Russia. The author characterizes the concept of «corporate control system», provides aspects of legal regulation. The author also presents the stages of implementation and creation of the corporate control system in the banking sector, characterizes the tasks and objectives. The author analyzes the role of corporate governance as a mechanism for protecting the interests of shareholders and the public, as well as its connection with effective risk management. The dynamics of banking sector assets are reviewed, the actions resulting from state ownership and monopoly position in the banking sector and the impact of international sanctions and oil price volatility on the country's economy are analyzed. The article emphasizes the need to adapt international risk management strategies to the peculiarities of the Russian market, as well as the importance of enhancing corporate control methods to respond effectively to difficulties. It concludes that the development of a flexible and adaptable corporate control system is fundamental to ensuring the stability and competitiveness of banks in Russia.