Jim O'Keeffe
Question:64 Deputy Jim O’Keeffe asked the Minister for Finance the steps he has taken to strengthen expertise in his Department in relation to banking and otherwise; and if he will make a statement on the matter. [34073/10]
View answerThursday, 30 September 2010
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Written answers
In October 2009, the Government approved the appointment of a banking analyst, with extensive knowledge and experience in the banking field, on a 3 year employment contract. This specialist has a Bachelor of Commerce degree, and also a Masters in Economic Science. In addition, my Department has recently secured the services (since 1 March 2010) of a banking accountant for a period of 12 months through an agreed secondment arrangement, at no cost to my Department. He has a B. Comm degree, and is also a qualified accountant. The Department has also engaged, on secondment from the Office of the Attorney General, a Senior Legal Advisor to the Department solely on financial services matters. The Legal Advisor has Bachelor of Civil Law and Barrister at Law degrees, and in addition to his experience in the Office of the Attorney General, he spent a number of years as a barrister in private practice. Finally, in July last, the Government approved the appointment of a Senior Economist on a 3 year employment contract.
Since 2008, the staffing levels in the Financial Services Division of my Department within which responsibility for banking lies, have increased from 34.20 to 51.73 (whole time equivalents) in 2010 — a 51.5% increase. In addition, as the Deputy will be aware, I have looked at my overall resources on banking and have reallocated considerable functions to the NTMA, which has also engaged a number of new banking experts for this purpose. Overall, therefore, my resources in relation to the banking area, including specialist expertise, have increased significantly, and will be kept under review.