RCU Full Form in Banking, What Does RCU Stand For?

RCU full form in Banking is the Risk Containment Unit or Risk Control unit. It is a kind of department of a firm that lessens potential risk using a variety of methods. It includes loss prevention, segregation, duplication avoidance, reduction, and diversification.

Role of Risk Containment Unit

The role of RCU is widely divided into the following:

  • Verification on sample basis/pre-account opening check
  • Reports related to breach of bank defined limits/operate team send alerts/regulatory violations, etc.
  • Onsite process support appearances to ensure adherence to the process
  • Analytics for inspecting suspect transactions
  • Offsite inspection through compliance certificate to confirm the fulfillment of processes, systems, or regulatory items.
  • Case management for incidents
  • Settlement cases call on a random sampling basis to users to confirm the genuineness of the receipts offered in records, etc.
  • Co-ordination with credit managers of numerous products for operating regular operations smoothly,
  • Monitoring and coordination of verification agency for sampling activities done by the firm
  • Other activity assigned about RCU of consume bank
  • Supervising activities
  • Co-ordination with head office and MIS preparation

Some other Abbreviations of RCU

  • Rate construction unit
  • Royal Credit Unit
  • Rapid cooling unit
  • Revelator Connection Utility (Revelar, Inc.)
  • Room Control unit
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