The Superintendency of Banks (SB) reported today that it is implementing a strategy to strengthen its body of supervisors, which is responsible for the main missionary task that Monetary and Financial Law 183-02 assigns to the institution.
“To date, the initiative has borne significant fruit, raising the professional profile of the team,” reported the SB. In two years, the supervisory body indicated that it has managed to increase the percentage of collaborators with a master’s degree from 44.8% to 52.4%.
In this period, more than 95% of the staff of the Supervision Deputy Management have been impacted by the training plan. Specifically, 115 technicians received training in 2021 and 127 are taking a program in 2022, totaling 29,746 teaching hours.
The academic agenda includes the Nemesis Certification in Risk Management, which is endorsed by the Association of Banking Supervisors of the Americas (ASBA), the Risk Management Club of Spain (CGRE) and the Latin American Federation of Banks (Felaban). .
The initiative also incorporates actions to strengthen the size of the team. Now the institution has more supervisors than two years ago -the number went from 124 to 159, for an increase of 28%-, and with a higher professional profile.
“These advances imply the deployment of a comprehensive strategy for the attraction and retention of qualified human resources, which includes a standardized and strategic recruitment process, development opportunities through internal competitions, an official performance recognition program and a remuneration scheme competitive,” the institution said.
Based on these criteria, the programs were implemented Young professionals Y Professional Supervisorsthrough which the institution attracted new talent for its coaching staff.
Improvements in supervision processes
In addition to academic initiatives, the SB develops an agenda to improve and strengthen its technical supervision structure in collaboration with the Toronto Center, a Canadian institution that provides advice and support.
This includes the revision of the supervision methodology, the optimization of the information processes and reports required from the financial intermediation entities (EIF), the creation of mechanisms for the consultation of the supervised entities, the identification of the needs in terms of information technologies, the training of SB personnel and the establishment of mechanisms to ensure quality.
These actions are framed in axes I and III of the strategic plan of the SB, on financial and macroprudential stability and efficiency and institutional strengthening, respectively.
The function of the SB’s Supervision Sub-Management is to monitor the safety and solvency of EIFs, with the aim of preserving the health of the financial system.
