Strengthening the financial system: The Superintendency of Banks’ approach to the digital age
The Superintendent of Banks, Enmanuel Cedeño Brea, has underscored the critical importance of strengthening the regulatory framework and risk management in the Dominican financial sector. Faced with a landscape marked by technological transformation and growing international demands, the official highlighted that the robustness of the system is a non-negotiable priority for maintaining confidence in the national market.
These statements were offered during the opening of the XII Annual Congress of the Association of Savings and Credit Banks and Credit Corporations (ABANCORD), an event that, under the theme “Leading the transformation of operational risk: governance and innovation in the AI era,” brought together experts and authorities to debate the impact of artificial intelligence and new governance standards.
We have to play by rules that make it evident that no one can question the solvency levels or the solidity levels of the Dominican financial system.
Enmanuel Cedeño Brea, Superintendent of Banks.
Regulatory challenges and advances
For her part, Cristina V. de Castro, executive president of ABANCORD, emphasized that artificial intelligence is no longer a future projection, but a reality that demands responsible integration. According to De Castro, the challenge for financial entities lies in balancing technological innovation with rigorous security and oversight controls.
During his presentation, Cedeño Brea detailed the pillars that guide the current regulatory agenda, highlighting the following key points:
- Implementation of the new operational risk framework, with capital charges scheduled for April 2027.
- Intensive focus on cybersecurity, technological risks, and third-party vendor oversight.
- Update of the Capital Adequacy Regulation under Basel III standards.
- Constant use of stress testing to improve capital planning.
Governance in the age of artificial intelligence
The congress addressed artificial intelligence from a strategic perspective. Omar Victoria Contreras, managing partner of OV Consultores, highlighted that, although technology optimizes decision-making, organizational responsibility cannot be delegated. “Responsibility cannot be transferred, but it can be governed,” the expert pointed out as he closed the event.
The event also featured the participation of international specialists and discussion panels, where it was analyzed how AI is reshaping the operational structure of financial entities and the imperative need for senior management to understand and manage the emerging risks associated with this new digital era.
