Regulatory Alerts2020-02-26 | NRP-21Added · Updated
Technical Standards for the Comprehensive Risk Management of Pension Entities
The Committee of Norms of the Central Reserve Bank of El Salvador issued these standards to establish prudential provisions for Pension Fund Administrators and Pension Institutes. The document mandates the implementation of a comprehensive risk management system encompassing identification, measurement, control, mitigation, and monitoring of risks. It requires entities to maintain a segregated organizational structure, a Risk Committee, and an independent Risk Unit, with Board approval of policies due within ten business days.
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