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FSVC welcomes proposals from government regulatory agencies and commercial financial institutions regarding the possibility of “seconding” an employee to FSVC for a determined time period that may range from one month to one year. Such an individual would likely be a senior-level expert in his or her organization and would serve as a senior advisor in one of FSVC’s overseas officers or in our New York headquarters.
As senior advisor, the secondee would work with FSVC senior management to shape the direction of regulatory or commercial financial sector programs globally, serve as a liaison to international counterparts, and work with program staff to structure and implement specific technical assistance projects. The senior advisor would also participate in one to two missions per quarter. This work leverages the expertise of interested organizations with the capabilities of FSVC to support the institutional development of regulatory agencies and financial sectors in developing and transitioning countries globally.
FSVC currently has a secondment agreement in place with the Federal Deposit Insurance Corporation (FDIC). Another recent secondment agreement was with Wells Fargo.
Federal Deposit Insurance Corporation
The secondment program with the FDIC began in 2007. Since that time, eight FDIC secondees have conducted approximately 50 technical assistance projects in a dozen countries, donating over 6,000 pro bono hours of service. For more information on past FDIC secondments to FSVC, please refer to the summary reports from 2008 through 2010 posted below:
- FSVC-FDIC Secondee Summary Report - September 2010
The Wells Fargo secondment program took place in 2010, with secondee David Snyder, Vice President and Risk Management Manager at Wells Fargo. During his secondment to FSVC’s Moscow office from July to October, Mr. Snyder worked on three important FSVC technical assistance projects related to small business lending operations and risk management. His availability for prolonged in-country consultations and research ensured accurate needs assessments for each FSVC counterpart prior to projects, thereby optimizing the impact of the technical assistance.
In the course of his interactions with a variety of Russian counterparts, Mr. Snyder provided a wealth of information on international best practices in small business lending and introduced new concepts on risk management. Working in the format of seminars, consultations, and interviews with senior management and bank officers, he addressed weaknesses in banking risk management infrastructure and proposed solutions, including the use of financial ratio analysis. His work has led to the adoption of higher risk management standards among Russian banks, and much of the impact of his work is still to be seen.