Tuesday, 12 March 2013

Ceisteanna (195)

Pearse Doherty


195. Deputy Pearse Doherty asked the Minister for Finance the safeguards the National Asset Management Agency has in place to ensure its employees, particularly its asset managers do not become compromised, for example, through over familiarity, in the course of their management of specific debtors. [13080/13]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

NAMA advises that it operates a number of safeguards to ensure that staff are equipped to successfully carry out their function on behalf of taxpayers. These safeguards include a rigorous appointments process, which deals fully with any actual or potential conflicts of interest, induction and on-going compliance training, and regular compliance updates. Other safeguards include the NAMA Credit Committee which is in place to approve credit decisions on amounts that exceed credit approval authority delegated to the NAMA CEO. All delegated authority decisions below NAMA Credit Committee are undertaken on a dual sign-off basis, and the appointment of at least two case managers to each individual debtor connection.