BNR’s Governor: Banking system needs shared banking culture

The banking system in Romania has 54,000 employees, a real trade, and a shared banking culture is needed, Governor of the National Bank of Romania (BNR) Mugur Isarescu told Wednesday the “Banking Compliance Summit” organised by the Romanian Banking Institute (IBR).

“At European level, a series of European directives assign important space to competency requirements and knowledge needed by the staff working in various departments of the banking activity. I have already mentioned the European directives regarding mortgage loan, but also those regarding the financial instruments, even if, for some staff categories, especially the ones in the network, in the front office, compliance with the level of competency and know-how is left up to the employer,” Isarescu said.

This doesn’t mean, he adds, that reporting an in-house training and assessment ensures the best quality educational framework.

“I have nothing against in-house training. The most efficient method is the Chinese walls. That means segregating activities. In this regard, given that the banking system in Romania integrates 54,000 employees, a true industry, trade, and for you not to promote your trade interests is very… you have common, trade interests. You also need a shared banking culture. There are things that can be jointly done in compliance with the banking environment. IBR disposes of the educational logistics necessary to the implementation of training processes and reality checks. You need something like that,” the BNR Governor specified.

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