External training message by BNR’ Isarescu meets ECB’s “fit and proper” rules for directors and managers

News

External training message by BNR’ Isarescu meets ECB’s “fit and proper” rules for directors and managers

The Governor of the Central Bank delivered a direct message to the banks during the Banking Compliance Summit 2017 organized BY Romanian Banking Institute (IBR). As Romania Insider reports, the Governor urged the banks not to rely on internal training programs.

“We haven’t inherited bankers from communism. We need mandatory training programs, not just in-house (programs),” , “You have over 50,000 employees, you need to train them,”

BNR’s message to the industry coincides with EBA and ECB focus this year on governance and most importantly on the suitability of directors and managers in financial services.

The supranational regulators are stressing out the importance of the collective capability of the BoD and the management body of the bank, without differentiating between seniority of management. ECB’s fit and proper requirements are already in place, whereas its requirements on suitability of management become effective June 2018.

ECB and EBA have expressed their intention to focus on individual and collective suitability of directors and senior managers in their updated onsite inspection methodology.

How can Deloitte help:

-        Evaluate Directors and Senior Managers using ECB guidance on both individual and group basis

-        Based on findings develop training programs tailored to the needs of individuals and groups

-        Develop internal training programs per department or function on key principles and in relation to regulatory changes

-        Develop “train the trainer” programs per department or function to scale up transfer of knowledge beyond senior management in the bank

Did you find this useful?

Related topics