FSS Conducts Responsibility Structure Training for Banks and Financial Holding Companies

The Financial Supervisory Service and the Korea Institute of Finance Training announced on July 8 that they conducted a training session titled "Operation of Bank and Financial Holding Company Responsibility Structure and Strengthening Internal Controls" for 58 employees in charge of the responsibility structure at banks and financial holding companies.

This training was organized to listen to on-site difficulties encountered during the operation process since the full-scale implementation of the responsibility structure for banks and financial holding companies in January this year, and to discuss improvement measures to enhance the effectiveness of the system's operation.

During the training, representatives responsible for the responsibility structure from law firms, accounting firms, and the Financial Supervisory Service directly gave lectures, explaining the main contents of the system and some shortcomings identified during the pilot operation consulting process.

A representative from the Financial Supervisory Service stated, "Through this training, participants were able to resolve accumulated practical questions and strengthen their practical capabilities regarding the interpretation and application of the system," adding, "We expect this to serve as a positive opportunity to enhance the effectiveness of internal control systems and to change the perception of internal control among employees of financial companies."

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