Internal Governance within the Banking Industry: Issues and Developments MALTA April 2013

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1 Seminar on Internal Governance within the Banking Industry: Issues and Developments MALTA April 2013 Description The Seminar is primarily intended to provide participants with the opportunity to familiarise themselves with and discuss banking related practical internal governance related issues. The Seminar is being organised by the MFSA in collaboration with the European Banking Authority (EBA). Target group This Seminar is mainly addressed to industry participants, namely Directors, Prospective Directors and Compliance Officers involved in Credit and Financial Institutions. Learning outcomes Participants will be able to familiarise themselves with regulatory and market related internal governance issues within the context of continuous professional development. Pre-requisites Good command and understanding of the English language and at least a basic knowledge of international recognised internal governance standards. Registration and Venue: You may register your name via registration@mfsa.com.mt by completing the attached registration form. Registration for the seminar is at a nominal fee of 60 per delegate. The duration of the seminar is 2 days, April 2013 and it will be held at the Malta Hilton 15 th April at the Portomaso Suite and 16 th April at the Spinola Suite. Free lunches and parking facilities will be provided. MFSA 1

2 Monday, 15 th April 2013 From to hrs (Registration) hrs hrs Introduction Prof Joseph V Bannister, MFSA Chairman The Process of Development of the EU Guidelines on Internal Governance hrs Coffee break Remuneration Policies actual and as proposed in CRD (IV) hrs Mr Jo Swyngedouw, Deputy Director, Prudential Policy and Financial Stability / hrs Lunch hrs hrs The aspect of governance and role of Directors in the banks (credit institutions) ICAAP Mr Joe Demicoli, Senior Manager, Banking Awareness Session a general overview of the main innovations in governance related standards and obligations included in CRD (IV) and CRR Mr Jo Swyngedouw, Deputy Director, Prudential Policy and Financial Stability hrs Coffee break hrs Awareness Session an overview of the Supervisory Review Process as featured in the proposed CRD (IV) Mr Ray Vella, Deputy Director, Banking Questions & Answers Closing Remarks hrs Mr Jo Swyngedouw, Deputy Director, Prudential Policy and Financial Stability hrs End of 1 st Day MFSA 2

3 Tuesday, 16 th April 2013 From to hrs (Registration) Introduction hrs Governance Implications arising from Articles 75, 86 and 87 in the proposed CRD (IV) Governance Arrangements hrs Mr Jo Swyngedouw, Deputy Director, Prudential Policy and Financial Stability hrs Coffee break hrs The Process Undertaken by the MFSA in Assessing the Suitability of Directors and Qualifying Shareholders in the Banking Sector Ms Catherine Galea, Deputy Director Authorisation Unit, MFSA hrs Lunch hrs The Roles and Obligations of Non-Executive Directors in the Governance Process Actual and as proposed in CRD (IV) ensuring the best mix of Executives and non-executive Directors Mr Fabio Axisa, Partner with PricewaterhouseCoopers The EU s Proposed Action Plan on European Company Law and Corporate Governance hrs Dr Michelle Mizzi Buontempo, Deputy Director Securities & Markets hrs Closing Remarks Mr Bernd Rummel, EBA hrs Seminar Evaluation & Presentation of Certificates - End MFSA 3

4 Speakers Profiles Mr Bernd Rummel, EBA Representative Mr Jo Swyngedouw, Deputy Director, Prudential Policy and Financial Stability Mr Bernd Rummel is a Principal Policy Expert at the European Banking Authority (EBA). He is responsible for the EBA work on internal governance and remuneration. Bernd is an experienced Banking Supervisor who has studied business economics. He has been working since 1990 for Deutsche Bundesbank inter alia in Internal Audit and Banking Supervision and since 2003 for the Federal Financial Supervisory Authority of Germany (BaFin), where he was deputy head of the operational risk and market risk policy section. Mr Jo Swyngedouw is Deputy Director of the prudential policy and financial stability department at the National Bank of Belgium (NBB). He studied law and economics (M.A.) at the K.U.Leuven (Belgium). Before joining the supervisory authority in 1990, he worked in a commercial bank. Jo has a long standing experience in prudential supervision and is member of several international prudential committees and fora (e.g. former alternate member of CEBS, former chair of 3L3 Task Force on implementing the 2007/44-directive on 'mergers and acquisitions' in the financial sector, member of Joint Forum, member of the Policy Development Group of the Basel Committee, chair of EBA's Task Force on Governance & Remuneration). Mr Joe Demicoli, Senior Manager, Banking Mr Joe Demicoli is a Senior Manager within the on-site section of the MFSA s Banking Supervision Unit. He is involved in the field of prudential supervision of credit and financial institutions and lead teams of inspectors on various types of on-site reviews carried out at licence holders. He previously worked for twelve years at the Central Bank of Malta before joining the MFSA in January He formed part of an internal committee within the MFSA s Banking Supervision Unit set up specifically to oversee the developments associated with Basel II, in particular the implementation of the Supervisory Review Process (Pillar 2) process. Mr Ray Vella, Deputy Director, Banking Mr Ray Vella started his professional career at the Central Bank of Malta (CBM) where he was employed for 26 years between 1976 and During this time, he was assigned to various departments, which included Issues, Banking, Foreign Exchange (mostly dealing with LCs and other trade finance activities), Investments, Internal Audit and Banking Supervision, the latter being at a time when supervision of banks was still under the auspices of the CBM. He was originally assigned to the Banking Supervision Department at the CBM in Following the decision taken by the Government of Malta to adopt the single regulatory concept in Malta, Ray joined the Banking Unit of the MFSA as Deputy Director in charge of the On-site Section. Amongst the various duties attached to this post, he is mainly involved in leading teams of inspectors from the Banking Supervision Unit to carry out reviews of licensed institutions operations at their premises and report thereon. He has been a member of the joint Standing Committee between the MFSA and the CBM since 2002 and is the MFSA representative on the Colleges of Supervisors of Austrian banks operating from Malta. Ray is an Associate of the Chartered Institute of Bankers (ACIB). MFSA 4

5 Ms Catherine Galea, Deputy Director Authorisation Unit, MFSA Mr Fabio Axisa, Partner with PricewaterhouseCoopers Dr Michelle Mizzi Buontempo, Deputy Director Securities & Markets Ms Catherine Galea is a Deputy Director within the Authorisation Unit of the MFSA. She was formerly part of the Banking Supervision Unit (MFSA), wherein she occupied senior positions within the Off-site, On-site, as well as the Regulation and Compliance Sections, and during which time she was also directly involved in transposing and implementing various aspects of the Basel II and EU Directive 2006/48/EC (CRD). Prior to joining the MFSA, Ms Galea worked for 12 years at the Central Bank of Malta. Ms Galea is an Associate of the Chartered Institute of Bankers (ACIB) and holds an MSc degree in Finance from the University of Leicester (UK). Mr Fabio Axisa is a Partner within PwC s advisory and business assurance practice with a special interest in work related to the banking industry. He leads the firm s banking practice and handles a wide portfolio of clients, including various credit and financial institutions, together with other major local Groups of companies operating in diversified sectors. He has been in charge of technical matters within the firm for a considerable number of years and is heavily involved in IFRS consultation work, with particular focus on financial instruments. In the past few years, Fabio has been involved in delivering various PwC Academy technical courses focusing primarily on IFRSs and the banking regulatory framework, both within the firm and externally. In 2012 Fabio was elected on the Council of the Malta Institute of Accountants. Dr. Michelle Mizzi Buontempo is a Deputy Director within the Securities and Markets Supervision Unit of the Malta Financial Services Authority and represents the Authority at various expert group meetings of the European Securities and Markets Authority. Michelle joined the MFSA in 1999 as legal officer within the Registry of Companies where her main duties included advising the Registrar on legal matters relating to the Companies Act as well as representing the Registrar in court proceedings and drafting of amendments to legislation. During the tenure at the MFSA Michelle has gained practical experience in different areas of financial supervision including the off-site and on-site monitoring of trustees and other fiduciaries. For a number of years Michelle was responsible for coordinating the development and implementation of sound corporate governance principles to be followed by listed companies as well as other public interest entities in Malta. Prior to joining the MFSA Michelle worked with one of the main auditing firms in Malta where she was responsible for their corporate secretarial services division. Michelle graduated as a lawyer from the University of Malta and has obtained a Masters degree in Financial Services from the same University. She regularly lectures on corporate governance at training programs organised by the Malta International Training Centre and the Malta Financial Services Authority. MFSA 5