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ECB, European University Institute to train banking supervisors

Wednesday 7 December 2022 14:11 CET | News

ECB has partnered with European University Institute to deliver specialised training for all European banking supervisors, according to an official press release.

 

ECB has partnered with European University Institute to deliver specialised training for all European banking supervisors, according to an official press release.

 

The initiative seeks to strengthen supervisors’ preparedness for new risks in line with supervisory priorities. The European Central Bank (ECB) launched a long-term partnership with the Florence School of Banking and Finance of the European University Institute to develop a training programme for all supervisors across European banking supervision. The programme will run over at least four years and aims to train 6,000 supervisors at the ECB and national competent authorities.

With this partnership, the ECB aims to offer comprehensive and innovative learning to supervisors. In the context of deep and transformative changes in the banking landscape, the programme will reportedly make sure that European supervisors are equipped with the necessary skills to supervise emerging risks while becoming even more effective at managing traditional ones. The training will cover a range of thematic areas, including cyber risk, digital transformation, and climate and environmental risks, the press release states.

What does the partnership involve? 

According to the Chair of the ECB’s Supervisory Board, the ECB’s ambition is to keep its supervisors at the forefront of the professional field. The ultimate purpose of this collaboration is to help the ECB Banking Supervision to deliver on its supervisory priorities and make its approaches more consistent, thus contributing to the further integration of European banking supervision, the press release continues.

The training’s main building blocks include an induction programme for newcomers and junior supervisors, a certified foundational curriculum covering the fundamentals of key supervisory topics for mid-career supervisors, as well as specialised learning pathways to gain technical knowledge of and skills in key supervisory risk areas, as stated by the press release.

This partnership complements initiatives with other training institutions to improve the skilss of supervisors in the digital world. The European University Institute is an international teaching and research institute and intergovernmental organisation. The founding members of the European Communities established the Institute in 1972 to foster the advancement of learning in fields of particular interest for the development of Europe, according to the official press release.

The Florence School of Banking and Finance is part of the Robert Schuman Centre for Advanced Studies of the European University Institute. The School brings together public officials, practitioners, and academics from the banking and finance sector to develop, through training and policy dialogue, a common culture of regulation and supervision in the European Union. The Florence School of Banking and Finance is already working in partnership with the European Commission on the EU Supervisory Digital Finance Academy, the press release concludes.


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Keywords: partnership, digital banking, regulation
Categories: Banking & Fintech
Companies: European Central Bank
Countries: Europe
This article is part of category

Banking & Fintech

European Central Bank

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