Financial Sector Regulation
The following selections from a long list of past assignments are examples of Washington International areas of expertise in consulting and advisory services.
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Central Banking:
- One of our principal was hired by the Central Bank of Costa Rica to assist them in meeting some of the first-tranche conditionally associated with a financial sector reform operation, including (i) the design and implementation of new long-term debt instruments targeted for the local capital market by the National Treasury; (ii) the creation of the new unit of account linked to the CPI to be used to issue new long-term Treasury bonds, (iii) the drafting of new investment regulations for the portfolio of the government's social security agency, and (iv) the drafting of legislation for private pension funds and the securities market. (1993)
In Uruguay and at the request of the Central Bank, one of our associates developed a program to establish a system of benchmarks to improve management of the international reserves portfolio. The study included a diagnosis as well as recommendations to improve the profitability from the international financial assets under management, including recommendations for new investment instruments.
- One of our principal was hired by the Central Bank of Costa Rica to assist them in meeting some of the first-tranche conditionally associated with a financial sector reform operation, including (i) the design and implementation of new long-term debt instruments targeted for the local capital market by the National Treasury; (ii) the creation of the new unit of account linked to the CPI to be used to issue new long-term Treasury bonds, (iii) the drafting of new investment regulations for the portfolio of the government's social security agency, and (iv) the drafting of legislation for private pension funds and the securities market. (1993)
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Banking Reform and Supervision:
- A team of our associates worked in Nicaragua as consultants for USAID assessing the status of the financial sector reform, including a thorough analysis of the quality of the Central Bank prudential regulations and of the banking supervisory system in place in the country (1994). Similar work was conducted in this country for the World Bank in recent years, particularly to assess tstrength of banks and improve the legal and regulatory framework of the banking sector.
Since 1994 and until recently, teams of our associates have advised on the restructuring process of the Superintendence of Banks in Dominican Republic. The consulting team was involved in the generation of prudential norms for the banking sector, performing bank auditing, on-site inspection of the asset portfolio (loans, investments and other assets), institutional analysis of banks and implementation of corrective measures and adjusting plans to those not fulfilling the necessary capital requirements, including training and participating in the process of selecting the personnel.
- A team of our associates worked in Nicaragua as consultants for USAID assessing the status of the financial sector reform, including a thorough analysis of the quality of the Central Bank prudential regulations and of the banking supervisory system in place in the country (1994). Similar work was conducted in this country for the World Bank in recent years, particularly to assess tstrength of banks and improve the legal and regulatory framework of the banking sector.
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Securities Market Regulation:
- One of our principals worked as part of a World Bank team that designed and appraised a technical assistance project for capital market development in Argentina (1994). Afterward, the same individual was in charge of making the final assessment of the actual implementation results of the project, which contributed to the institutional strengthening of the National Securities Commission and the development of private pension funds and their supervisory agency. (1999)
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Social Security and Pension Reform:
- In Chile, a team of our associates advised the Association of Pension Fund Management Companies (AFPs) on the improvement of the Chilean social security legislation, particularly on investment valuation, accounting procedures and investment rating mechanisms (1992).
One of our principals worked in Ecuador in specific proposals for the amendment of the investment policy and practices of the Ecuadorian Institute of Social Security (IESS). This project was sponsored by Inter American Development Bank. (1993)
- In Chile, a team of our associates advised the Association of Pension Fund Management Companies (AFPs) on the improvement of the Chilean social security legislation, particularly on investment valuation, accounting procedures and investment rating mechanisms (1992).
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CONTACT INFORMATION
- Contact: Claudio A. Pardo
Title: Managing Director
Email: cpardo@washfin.com
Phone: 1-301-299-4754
Contact: Phillip W. Rourk
Title: Managing Director
Email: prourk@washfin.com
Phone: 503-7850-0808
Contact: Jean-Pierre Schwartz
Title: Managing Director
Email: jpschwartz@washfin.com
Phone:1-202-785-5135