SBP Modernizes Its Supervisory Processes

Tuesday, 05 September 2023

As part of the SBP’s transformation and modernization plan, efforts and investments have been allocated in recent years to strengthen its technological infrastructure.

In line with this modernization plan, we have updated the cutting-edge software, TeamMate Plus, an integral auditing management system that enhances the supervision process for our regulated entities, including duties performed by the Internal Audit Department. The system enables the management of all processes and the drafting of reports for the various examinations conducted.

The use of this technological tool will empower the Financial Conglomerates Supervision Division, the Financial Intermediaries & Trust Companies Supervision Division, the Risk Management Division, and the Prevention & Control of Illicit Operations Division to increase the efficiency, effectiveness, and productivity of both onsite and offsite examination processes. It will facilitate in-depth, accurate analyses with the digitally gathered information and documentation, while reducing paper usage.

Furthermore, this tool will serve as a communication channel for sending and receiving information during the supervision processes. It will collect detected non-compliances and provided recommendations, as well as trigger alerts when deadlines are met according to the established timetable. This will enable simultaneous, coordinated, and closer collaboration with each regulated entity.

Additionally, this software will streamline the standardization of forms and procedures, ensuring the uniformity of institutional technical teams. It will also facilitate the development and implementation of tests on different controls aligned with the regulatory compliance schemes applicable to each type of supervisory processes.

SBP moderniza sus procesos de supervisión