Regional Central Banks review ICT role in business continuity

Regional Central Banks review ICT role in business continuity

19-August-2015

Central Banks from the SADC (Southern African Development Community) region are reviewing the role of Information and Communication Technology (ICT) for improved business continuity in the context of regional cooperation and integration.

This is being done through a workshop currently going on at the Savoy Resort and Spa at Beau Vallon.

Named the Information Technology Governance and Business Continuity Management (ITG & BCM) Meeting’, the workshop will last until Friday.

The main objectives of the meeting are to build on common understanding and agreement on the purpose and intent of ITG, as well as review the SADC ITG roadmap and BCM implementation in its countries’ Central Banks.

The conference will ultimately develop pathways for discussions on the way forward in terms of ITG and BCM and come up with recommendations on how to improve IT governance in the SADC region.

While launching the workshop yesterday morning, the governor of the Central Bank of Seychelles, Caroline Abel, remarked that while ICT plays a prominent role in enabling economic growth by permitting quick and efficient transactions, criminals unfortunately continue to take advantage of electronic resources and bring new threats to the business environment, in the form of cyber crimes.

Consequently, she added, these challenges disrupt daily operations.

Added to the fact that ICT systems can also deteriorate over time or even become obsolete, she emphasised on reinforcing the need for a sound business continuity and information security framework in order to minimise the effect of such disruptions.

“It is for this reason that organisations, including the Central Banks, have an obligation to pre-empt and effectively manage such risks […] to ensure that ICT systems are properly managed and remain aligned to the business strategy,” she said.

Miss Abel however reminded the delegates that best practices are on their own not a solution and that their effectiveness depends on how they are implemented and updated.

The outcomes of the meeting will be submitted to the Committee of Central Bank Governors (CCBG) by the SADC ICT sub-committee, during the upcoming governors’ meeting to be held in October in Angola.

http://www.nation.sc/article.html?id=246490

CBS hosts banking workshop in collaboration with KPMG

05-September-2015
Ongoing training of individuals working in the banking sector is important for continued development of the sector.

With this mindset, the Central Bank of Seychelles (CBS) hosted two workshops on banking in collaboration with KPMG specialists from August 19-20, 2015. The delegates of the first workshop included staff from the commercial banking sector and Seychelles Credit Union, while the second involved staff from regulatory authorities namely, CBS the Financial Services Authority and the Financial Intelligence Unit.

The workshops provided updates on the trends affecting the industry, both locally and internationally as well as international best practices related to the financial sector. The topics covered in the workshops tied in with concerns and objectives prevailing in the financial sector in Seychelles, which can be summarised as financial sector development and compliance with international regulatory standards.

In her introductory address to the workshops the governor of CBS, Caroline Abel, highlighted the importance of these two objectives towards the visibility of Seychelles as a genuine and sound jurisdiction.

International developments in relation to risk management was one of the main topics addressed in the workshops. The delegates obtained an overview of risk management standards, including those termed Basel II and Basel III which are prescribed by the global standard setting body for banking supervisors, the Basel Committee on Banking Supervision (BCBS) at the Bank for International Settlements (BIS). This has relevance to CBS’ plans to further implement these standards in Seychelles with the aim of strengthening banks’ capital adequacy and risk management framework.

The workshop also provided an insight into prevailing compliance issues, which include anti-money laundering regulations, factors that led to the 2008 financial crisis and the manner in which banks conduct business and deal with customers.

Reviewing the regulatory and supervisory framework (which includes prudential, money-laundering and consumer protection aspects) is ongoing work for Seychelles’ regulators in order to ensure alignment with international best practices. It is also important for the commercial financial sector to build capacity in order to ascertain the robustness of the risk management framework and adherence to regulatory standards.

Additionally, there was an overview of investigative application in banking, including frauds and cyber threats and the need to have enhanced controls in place in an ongoing basis. The recent skimming incident at ATMs in Seychelles is proof that this is a global phenomenon relevant to all jurisdictions, be it large or small, and that there needs to be continuous education and work in this regard.

Against the backdrop of the priorities in the financial sector, there is a need for individuals working in the banking sector to keep abreast of issues related to that sector, including the regulatory and commercial developments.

The workshops represented training opportunities for delegates in this regard and put into context international practices to the realities in Seychelles’ banking sector.

http://www.nation.sc/article.html?id=246676

Johan Van Schalkwyk appointed Barclays Seychelles managing director

06-October-2015


Mr Van SchalkwykJohan Van Schalkwyk is the new managing director of Barclays Bank (Seychelles) Limited.
Van Schalkwyk takes over from James Kinyany who has been the interim managing director since September 2014.
He brings to Barclays Seychelles vast industry experience having served in several senior roles in his banking career. He joined Absa in 2013 as head of physical distribution, responsible for the entire South African Branch Network and ATMs. He was also responsible for the Barclays Africa Branch Network restructuring and Branch Footprint optimisation initiatives which resulted in significant cost savings and productivity enhancements for the bank.
Mr Van Schalkwyk has extensive experience in retail banking. Prior to joining Absa, he was the head of card division, and later the head of retail banking business operations for Standard Bank in South Africa. He began his banking career with Trust Bank and held various executive positions at Nedbank.
He was a non-executive director on Bankserv’s board of directors where he served on multiple strategic executive planning and management committees.
The new Barclays Bank (Seychelles) managing director holds a B. Com (honours) in Business and Administration, and a B. Com in Business Economics and Industrial Psychology.
He will be a member of the Barclays Africa regional management executive committee.
Commenting on his appointment, Mr Van Schalkwyk said: “I am pleased to be given the opportunity to lead and grow this great business in Seychelles. I look forward to working with my colleagues and other stakeholders as we continue to strengthen our market position, on our journey to becoming the ‘Go-To’ bank in the Seychelles.”
As for Mizinga Melu, chief executive of Barclays Africa regional management, she said “the appointment of Johan reiterates the importance of Barclays Seychelles to our One Africa strategy and we are excited that we have achieved significant milestones in our journey to become the ‘Go-To’ bank in Africa. Moving talented people across the business supports our talent mobility initiative to share and exchange skills and expertise on the African continent.”
Jean Weeling-Lee, chairman of Barclays Seychelles, commented: “The board welcomes Johan to Barclays Seychelles and looks forward to working with him in driving our strategy of becoming the ‘Go-To’ bank in the market. We would like to take this opportunity to thank James Kinyany for the steady leadership he has provided to the business since September last year and wish him the best in his next role in the Group.”

http://www.nation.sc/article.html?id=247002