The Superintendent of Banks, Alejandro Fernández W., highlighted the updating of its banking supervision strategy to bring it in line with the best international standards and the deployment of an action plan to prevent and combat financial crime.
In a ceremony headed by President Luis Abinader Corona, the Superintendency of Banks (SB) presented its institutional management report 2020-2024, highlighting its technical and organizational strengthening and the transformation of the services it offers to the public.
In citing the main advances, the Superintendent of Banks, Alejandro Fernández W., highlighted the updating of its banking supervision strategy to bring it in line with the best international standards and the deployment of an action plan to prevent and combat financial crimes.
Also, the implementation of a regulatory roadmap with the objective of supporting the adaptation of regulations in the sector and stimulating innovation in the Dominican financial system. Between 2020 and 2024, the SB put into effect four instructions, 55 circulars and 59 circular letters, which address key aspects for the stability and health of the system and the protection of users’ rights.
With this population in mind, the institution expanded the channels of attention and ordered the return of RD$452 million in favor of bank clients through the Office of Services and User Protection (ProUsuario) in the last four years. The amount is equivalent to almost six times the amount accumulated for this concept in the previous four-year period.
Additionally, through the campaign Dinero Busca Dueño, the SB delivered RD$305.8 million to 2,605 savers of entities in dissolution or liquidation process.
Institutional strengthening
In order to improve its efficiency and adapt to current practices, the SB obtained a set of certifications that internationally endorse its standards. These include ISO 9001:2015 on Quality Management System; ISO 37001:2016 on Anti-Bribery Management System; ISO 27001 on Information Security; and ISO 22301 on Business Continuity.
In addition, during this period the institution achieved other seals and certifications that attest to its commitment to transparency, ethics, good organizational climate and respect for diversity and the environment: Sustainability 3R’s, Occupational Health and Safety, International Internal Audit Framework, Equal DR and Great Place to Work.
Since 2020, the SB strengthened the profile of its technical teams with the hiring of specialized human resources and the implementation of an extensive training program, hand in hand with prestigious international institutions, such as the Toronto Centre, a benchmark in banking supervision programs; Nemesis, a Spanish institution specialized in financial risks, and the International Monetary Fund through its regional office.
The supervisory body adapted its internal systems -which were obsolete- to achieve a higher level of efficiency and security of the information it handles.
“The fruits of this 2020-2024 strategy are a reflection of great teamwork to bring this ship to port. This is an aspect of which I am proud and grateful: we have achieved a stronger and more effective SB, reaching goals that are not castles in the sand or promises in the air, but facts,” said Fernández W. during the presentation of results.
Readjustment
After the presentation of results, the President of the Republic, the Governor of the Central Bank, Héctor Valdez Albizu, the Mayor of the National District, Carolina Mejía, the authorities of the SB, and representatives of the financial sector proceeded to cut the ribbon to inaugurate the renovation of the institution’s headquarters. The ceremony was blessed by Father Edison Capellán, parish priest of San Juan Bosco.
The works included the renovation of the main building in Gascue; the North Regional Office in Santiago; as well as the offices of ProUsuario and the Intervened Financial Institutions in Liquidation (IFIL) program, located in Unicentro Plaza. In the same shopping center, the offices for the Human Resources and Administrative and Financial Departments were adapted.
At the headquarters, priority was given to the structural reinforcement of the Supervision building, in compliance with current seismic regulations. The electrical and air conditioning systems were made more efficient, and a fire protection system was installed, in compliance with occupational health and safety standards. The sidewalks and the areas of retreat and boundaries were also recovered.
From the architectural point of view, the changes applied to the headquarters bring it closer to the essence of the work, designed by architect Gay Vega in 1969, and which constitutes a legacy of the city.
Source:Noticiassin.com
