Central Bank Needs "Trusting" Employees - The Reykjavik Grapevine

Central Bank Needs “Trusting” Employees

Published August 23, 2011

An advert from the Central Bank asks for “an enthusiastic and trusting person”, while the Telegraph points out that “trusting” might not have been the word they were looking for.
The advert in question is seeking a new director of Financial Stability. Specifically, what they seek is :

… an enthusiastic and trusting person as an executive director of Financial Stability. The department of Financial Stability is a new department within the Central Bank of Iceland. The department’s responsibilities include risk analysis of the financial system and development of prudential regulation for the financial system. The department takes part in financial policy making regarding goals, equipment and organization of financial stability in Iceland.

The Telegraph commented on the advert, saying:

And the UK banks aren’t the only ones obsessing about trust.
The Central Bank of Iceland is looking for “an enthusiastic and trusting person” to head up its new financial stability department.
Given all three collapsed icelandic banks are under investigation on suspicions of fraud and market manipulation, I would argue the regulator needs to rethink its recruitment requirements.
Trusting is one thing the new compliance leader should not be.
Trustworthy however – a must.

Well put, but the bigger question is: why is “financial stability” a new department at Iceland’s Central Bank? Better late than never, we suppose.

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