Financial Supervisory Service Strengthens Proactive Administration... Launch of 'Proactive Administration Committee'

Establishment of the Active Administration Committee to Settle an Active Administration Organizational Culture
Part of the Financial Supervisory Service's Work Innovation Roadmap Announced Earlier This Month

[Asia Economy Reporter Song Hwajeong] The Financial Supervisory Service (FSS) is launching an Active Administration Committee involving external ombudsmen and stepping up efforts to strengthen active administration.

On the 27th, the FSS held the first Active Administration Committee meeting chaired by Senior Deputy Governor Lee Myung-soon, with participation from private sector experts serving as ombudsmen, to review the FSS's active administration implementation plan and key tasks.

The FSS stated, "Going forward, we will establish active administration as a cultural change direction across all work areas including supervision, inspection and sanctions, licensing, disclosure and investigation, accounting, and dispute resolution, so that both supervision demanders and the FSS can experience work innovation."

To this end, the Active Administration Council established in November 2019 has been expanded and reorganized into the Active Administration Committee. The committee will serve as the control tower for active administration, with the chairperson elevated to Senior Deputy Governor and five external ombudsmen appointed as ex officio members to ensure work innovation centered on supervision demanders. The committee will also perform functions such as reviewing the FSS's active administration implementation plans and key tasks, as well as deliberating on the protection of active administration employees. The ombudsmen will propose work innovation tasks from an independent external perspective and monitor and evaluate the execution of active administration.

Additionally, for outstanding departments and employees who achieve active administration results, the FSS will implement bold rewards including ▲establishment of department awards ▲significant expansion of award recipients ▲preferential treatment in special promotions, salary increases, and selection for long-term academic or overseas training programs ▲consideration of preferences during department transfers. Along with this, the committee will introduce functions such as recommending exemption from internal audits and promoting prior consulting on active administration matters to strengthen protection and support for active administration employees. A system encouraging prior consulting requests for audits will be introduced in cases with a high likelihood of legal violations or passive administration to proactively prevent legal uncertainties.

An FSS official said, "Going forward, the FSS plans to actively support the Active Administration Committee so that it can establish itself as the control tower for innovation in supervisory work."

This content was produced with the assistance of AI translation services.