Peter Piu - Legal adviser
My job as a lawyer and supervisor within the Prudential Supervision of Insurance Companies is particularly enriching!
After having read law, complemented with two specialised courses on company law and economic law, I set to work with the then banking supervisory authority, the Banking and Finance Commission.
Financial supervision has developed continuously since then. In 2004, the BFC and the Insurance Supervision Office (ISO) were merged into the Banking, Financial and Insurance Commission (or CBFA as it was known). Since 2011, however, prudential supervision of credit institutions and insurance companies has come under the competence of the National Bank.
Within the prudential supervision, I am also responsible, as a lawyer, for the supervision of Belgian insurance companies with international share ownership. Personally, I find the job as supervisor particularly enriching because of the following reasons:
1. As a supervisor, you are constantly in touch with the management of the supervised institutions. You obtain a unique insight into the way financial institutions work.
2. Multidisciplinary cooperation
For each institution, prudential supervision is performed by a multidisciplinary team, in which I am privileged to cooperate with economists and actuaries. Thanks to this multidisciplinary working environment, prudential supervision is turned into a fascinating matter. Our job centres around collegiality and cooperation in order to form the best possible picture of the risks run by Belgian insurers, on the one hand, and to develop supervision that is as effective as possible, on the other hand.
3. International cooperation
Since most financial institutions work on an international scale, close cooperation with the supervisory authorities of the other EU Member States is essential. This international cooperation is becoming increasingly important and constitutes a very interesting aspect of my job.
4. Constant evolution
Partly due to impetus from European legislation, prudential regulations are evolving at a super-fast rate. As a supervisor, it is a real challenge to keep a close track of these developments.
I am convinced that the Bank holds all the cards to offer motivated candidates a challenging job!