Resolution JPRM-2024-015-G Designating Dr. Alex Ernesto Vinueza Calvache as Director of Banking Audit of the Central Bank of Ecuador for a Five-Year Term

RESOLUTION No. JPRM-2024-015-G MONETARY POLICY AND REGULATION BOARD

CONSIDERING:

That, Article 226 of the Constitution of the Republic of Ecuador stipulates that public servants and persons acting under state authority shall exercise only the competencies and powers attributed to them in the Constitution and the Law;

That, Article 227 of the same states that Public Administration constitutes a service to the community governed by principles of effectiveness, efficiency, quality, hierarchy, coordination, planning, among others;

That, Article 47.1 of the Organic Monetary and Financial Code created the Monetary Policy and Regulation Board as part of the Executive Function, responsible for formulating monetary policy, as the highest governing body of the Central Bank of Ecuador, which will implement this policy;

That, Article 47.6 of the aforementioned Code, regarding the functions of the Monetary Policy and Regulation Board, among others, establishes: "(...) 19. Appoint the banking auditor of the Central Bank of Ecuador; (...) and, 26. Those others conferred by law";

That, Article 57.3 of the same prescribes that "The Monetary Policy and Regulation Board shall appoint the Director of Banking Audit upon proposal of the Audit Committee. The Director of Banking Audit must be a person with no less than ten (10) years of professional experience in the field of auditing. The Director of Banking Audit must report administratively to the General Manager and functionally to the Audit Committee. The Director of Banking Audit shall be appointed to exercise their functions for a period of five (5) years, which may be renewed only once. (...)"

That, through Resolution No. JPRM-2023-006-M of March 16, 2023, the Monetary Policy and Regulation Board issued the Internal Audit Policy of the Central Bank of Ecuador, modified through Resolution No. JPRM-2024-012-M of July 10, 2024, in whose Article 5.1 the requirements for the appointment of the Director of Banking Audit are listed and in Article 5.2 it is established that "The selection process for the Director of Banking Audit shall be carried out in accordance with the procedure established by the Audit Committee, after which it will send its proposal, with up to three (3) candidates, to the Monetary Policy and Regulation Board, for the respective appointment. (...)"

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That, through Memorandum No. BCE-JPRM-2024-0093-M of July 25, 2024, the Audit Committee of the Central Bank of Ecuador sent to the Monetary Policy and Regulation Board the resumes of three applicants for the position of Director of Banking Audit of the Central Bank of Ecuador; recorded in the document management system, the request of the President of the Monetary Policy and Regulation Board to "(...) carry out the analysis of compliance with requirements so that the Monetary Board can choose the internal auditor of the CBE";

That, with Legal Report No. BCE-GJ-006-2024 of August 1, 2024, the Legal Department, after evaluating the compliance with requirements of the applicants for Director of Banking Audit of the Central Bank of Ecuador, concluded that "(...) The gentlemen Moisés Nikolay Trujillo Avilés, Juan Enrique Calderón Noboa and Alex Ernesto Vinueza Calvache MEET the legal and regulatory requirements provided for in Article 57.3 of the Organic Monetary and Financial Code, and Article 5.1 of the Internal Audit Policy of the Central Bank of Ecuador, for the position of Director of Banking Audit of the Central Bank of Ecuador. All candidates possess the academic training, professional experience and qualifications necessary, in addition to having no conflicts of interest or backgrounds that disqualify them for the position; (...)" and,

That, the Monetary Policy and Regulation Board, in ordinary session by in-person modality, on August 7, 2024, reviewed the qualification report sent by the Legal Department to the General Manager with memorandum BCE-GJ-2024-0374-M of August 1, 2024 and brought to the attention of the President of the Monetary Policy and Regulation Board through memorandum No. BCE-BCE-2024-0165-M of August 5, 2024, by the General Manager of the Central Bank of Ecuador.

In exercise of its functions and in accordance with Article 47.7 of the Organic Monetary and Financial Code, the Monetary Policy and Regulation Board,

RESOLVES:

Article 1.- Appoint Dr. Alex Ernesto Vinueza Calvache to the position of Director of Banking Audit of the Central Bank of Ecuador, for a period of five (5) years.

FINAL PROVISION.- This resolution shall enter into force from the present date, without prejudice to its subsequent publication in the Official Register.

The General Secretariat of the Central Bank of Ecuador is tasked with its publication on the institutional website.

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NOTIFY.- Given in the city of Quito, Metropolitan District, on the 7th day of the month of August, 2024.

THE PRESIDENT Dr. TATIANA MARIBEL RODRÍGUEZ CERÓN

The preceding resolution was signed by Dr. Tatiana Maribel Rodríguez Cerón, in her capacity as President of the Monetary Policy and Regulation Board, in the Metropolitan District of Quito, on August 7, 2024.- I CERTIFY.

ADMINISTRATIVE SECRETARY Attorney MARÍA ALEXANDRA GUERRERO DEL POZO