Sergio Espinosa Chiroque appointed as the new SBS superintendent: learn about his profile and resume

The Government has appointed Sergio Espinosa Chiroque as the new superintendent of the Superintendency of Banking, Insurance and AFP (SBS) through Supreme Resolution No. 167-2024-PCM, published in the Official Gazette El Peruano. This change in the direction of the SBS comes at a crucial moment for the financial sector Peruvian, with many challenges and opportunities ahead.

In a context of constant economic and financial changes, the appointment of a new superintendent is a significant event. With a long track record in the sector, Sergio Espinosa Chiroque brings vast experience and knowledge that will be key to facing current and future challenges.

Professional profile of Sergio Espinosa Chiroque

Sergio Javier Espinosa Chiroque Espinosa Chiroque is an economist with a solid career in the financial and regulatory sector. Before assuming the position of Superintendent of the SBS, Espinosa Chiroque has worked at the Central Reserve Bank of Peru (BCRP) and at the SBS itself, playing key roles that have allowed him to acquire a deep understanding of the Peruvian financial system.

Resume and outstanding achievements

A graduate in Economics, Espinosa Chiroque also has postgraduate studies in finance and regulation. Throughout his career, Sergio Espinosa Chiroque has accumulated a number of important achievements. At the Central Reserve Bank of Peru, he contributed to the implementation of monetary policies that helped maintain the country’s economic stability. His work at the SBS has been equally significant, participating in the supervision of financial entities to ensure their transparency and soundness.

One of her most notable achievements has been her participation in the reform of the pension system. Espinosa Chiroque has worked on the implementation of measures that seek to strengthen the sustainability and transparency of pension funds. In addition, she has promoted financial inclusion initiatives, improving the population’s access to safe and affordable financial services.

Previously, he served as Deputy Superintendent of the Peruvian Financial Intelligence Unit of the SBS since 2009. In addition, he held the position of Vice President and Technical Secretary of the Multisectoral Executive Commission against Money Laundering and Terrorism Financing, whose mission is to coordinate and plan actions to prevent and combat Money Laundering (ML) and Terrorism Financing (FT).

Between 2015 and 2016, he was president of the Group of Experts on Money Laundering Control (Gelavex) of the Inter-American Drug Abuse Control Commission (Cicad) of the Organization of American States (OAS). He also served as president of the Egmont Group, a network that integrates more than 164 Financial Intelligence Units from different jurisdictions around the world, during the period between 2015 and 2017.

The supreme resolution that made his appointment official was endorsed by the President of the Republic, Dina Boluarte; the President of the Council of Ministers, Gustavo Adrianzén; and the Minister of Economy and Finance, José Arista.

Challenges and perspectives

Sergio Espinosa Chiroque’s appointment comes at a time when the financial system is facing several challenges. Global economic volatility and the need for greater financial inclusion are some of the issues he will have to address. His leadership will be crucial to implementing policies that promote financial stability and inclusive growth.

What is the function of the SBS?

The SBS is the entity responsible for supervising and regulating Peru’s financial system, including banks, insurance companies and pension funds. Its role is to ensure that these institutions operate in a transparent and secure manner, protecting consumers and maintaining the stability of the financial system.