The Superintendency of Banks of Panama organized the seventh Supervisory College of the Promerica Group, bringing together representatives from this important financial group to present their corporate strategies related to their business.
Supervisory Colleges play a crucial role in effectively overseeing international banking groups. They not only strengthen collaboration and the exchange of information among supervisors, but also provide authorities from different jurisdictions with a clearer understanding of each banking group's risk profile.
The event's agenda covered key topics such as: corporate strategic guidelines and financial profile, cyber risk management, monitoring systems for the prevention of ML/TF/PFADM (Money Laundering, Terrorist Financing, and Proliferation Financing of Weapons of Mass Destruction), the group's forward-looking perspective on new technologies, and future challenges and projects.
The Superintendent of Banks of Panama, Milton Ayón Wong, opened the College, emphasizing the importance of these meetings in strengthening supervision and promoting a safer and more transparent financial environment. Mr. Ayón highlighted that collaboration between regulators is essential to address the current challenges of the financial sector and ensure trust in banking systems.
Regulators from the countries where the group operates—Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic— actively participated in the event.
Mr. Ramiro Ortiz Mayorga, President and CEO of Grupo Promerica Financial Corp., along with its directors and senior executives, also attended.
This event aligns with the methodology established by the Basel Committee on Banking Supervision and reaffirms Grupo Promerica's commitment to best practices in the financial sector.
