No less than 44 heads of major departments of the banks of themarket - from lending to risk management, have failed NBR's examthat was supposed to confirm them on their positions, required bythe new legislation on lenders, banking sources say.
Over the last few months, about 201 execs have been interviewedby technical committees of the NBR based on their job descriptionto assess their professional skills and their familiarity with theregulations related to their activity.
As of this year, the banking legislation stipulates that everyperson appointed to run risk management and control, internalaudit, conformity, treasury and lending departments "shall beendorsed by the NBR before they start in their position", after theendorsement had been previously necessary only for the members of abank's Board.
The evaluation process is practically over, but the situation ofthose that did not 'pass' is unclear: theoretically they have to bereplaced but banks are requesting new exams considering they arebankers who were already working on their specific positions.
"Quite a number of people failed. We informed each bank aboutit. The regulation in force says they have to be replaced. However,there have been some talks between us and the Romanian BankingAssociation about the possibility of a new assessment, similar toretaking a failed exam," said Nicolae Cinteza, head of NBR'sSupervision Department.
He says that for the new legislation to be enforced, committeeswere put together at the National Bank, comprising representativesof the managers who have specific competencies precisely in thefield subjected to assessment, besides those of the supervisiondepartment. The examination took three to four hours on theaverage.
"It was a conversation with the executive in question in orderto assess if they knew how to manage risks well, based on thestrategy of the bank and regulations. We are generally pleased,with some exceptions. There are situations where we asked them tostudy harder," NBR's head of the supervision department said.
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