Project Overview

A2F Consulting supported the Superintendencia del Mercado de Valores (SMV) in Panama in introducing a Risk-Based Supervision (RBS) framework for the securities and pension sectors. The project aimed to modernise supervisory practices, improve risk assessment capabilities, and strengthen regulatory oversight.

Work Developed

• Developed a comprehensive risk matrix and consolidated risk model to assess supervisory risks and define tolerance levels
• Established metrics to guide supervisory stance and decision-making based on risk profiles
• Re-engineered supervisory processes and procedures to align with risk-based approaches
• Designed and delivered a capacity-building program to support institutional adoption of RBS
• Automated and integrated the risk model into the regulator’s existing IT systems

The assignment was delivered over 20 months and combined regulatory reform with system development and capacity building. A2F supported SMV in transitioning to a risk-based supervisory approach, enhancing its ability to monitor financial markets and ensure compliance with evolving regulatory standards.

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