Financial Services Volunteer Corps
WEF Financing for Development Workshop
Private Sector Governance Training :
Can a Global Corps of Financial Experts Help??
Hong Kong
March 15, 2005
FSVC’s Mission
To help build the sound financial infrastructure
required by countries seeking to develop transparent,
market-oriented economies.
• A functioning banking system is a prerequisite
for a successful market economy
• Strong and healthy banking systems are
essential to fostering sustained economic
growth and creating jobs
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Brief History
• Founded in 1990 at Bush 41 presidential request
by John Whitehead and Cyrus Vance
• Has engaged over 5,500 voluntary experts from
the financial, legal and regulatory communities
on over 1,500 programs since inception
• Has reached over 30,000 counterparts in 30
countries
• Has delivered over $155 million in technical
assistance by leveraging the pro-bono service of
volunteers -- more than double the amount of
U.S. Government and private grants to FSVC
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Our Status
• Private-public sector partnership
• US registered Not-for-profit organization
• Provider of unbiased, expert advice
• Use active financial, legal and regulatory
professionals serving as volunteers
• Able to give timely input on specialized
issues, generally through short-term technical
assistance or training programs
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Current FSVC Operations
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During 2004, FSVC delivered 149
programs in 20 countries
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Current offices in 12 countries:
-Afghanistan
-Albania
-Bosnia and Herzegovina
-Croatia
-Egypt
-India
-Indonesia
-Jordan
-Macedonia
-Morocco
-Russia
-United States
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Full-time staff of 59:
-34 in New York & Washington
-25 Overseas
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Core Competencies
Central Banking
Commercial Banking
Small and Medium Enterprise Lending
Banking / Financial Legislation
Anti-Money Laundering
Corporate Governance
Payments System Development
Audit & Accounting Issues, including MIS and IT
Pension / Insurance Reform
Capital Markets
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Typical Program Structures
In-Country Projects
• Advice at policy level, including
legislative reviews or sector
assessments
• On-site technical consultations
• Legal commentary
• Working visits to counterpart
financial institutions and
regulatory authorities
• Workshops/roundtable discussions
• Training programs for
officialsfrom client institutions
• Customized training programs for
officials/staff from client
institutions
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Out-of-Country Projects
• Internships with US financial
institutions
Representative US Organizations that
Provide Volunteers
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Bank of America
Citigroup
JP Morgan
Wachovia
BB&T
Union Planters Bank
Union Bank of California
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Independent Community Bankers of
America
Tennessee Bankers Association
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Depository Trust Corporation
New York Stock Exchange
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Alston & Bird
Bingham McCutcheon
Shearman & Sterling
Simpson, Thatcher & Bartlett
White & Case
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Federal Reserve System
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
US Securities & Exchange Commission
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Association of Certified Anti-Money
Laundering Specialist
Global Association of Risk Professionals
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Over 150 corporations and organizations have provided FSVC with volunteers in 2004
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International Organizations that
Recently Provided Volunteers
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World Bank
European Central Bank
National Bank of Poland
Bank of Italy
Monetary Authority of Singapore
Financial Intelligence Unit of the Thai Government
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UBS
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Hungarian Pension Association
Bombay Stock Exchange
London Stock Exchange / AIM
Canadian Stock Exchange (Vancouver and Toronto)
CSFB
Allen & Overy
About 20-25% of FSVC’s volunteers now come from European or non-American sources
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Recent Training Projects
• Internal Audit for the MoF, Afghanistan
– KPMG International volunteers
– Bahrain Institute of Banking and Finance
• Russian Banker Conference
– Association of Russian Regional Banks
– RusRatings
– US Federal Reserve, FDIC and Treasury
• Indonesian Broker Dealer Training on AML
– US investment bank compliance officer
– Canadian Stock exchange official
– Indonesian government (Bapepam)
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Upcoming Projects
• Russian and Ukraine banker training & internship
courses (June 2005)
• Indian workshops on best SME practices including
lending techniques (May and June 2005)
• SME lending seminar in Jordan in conjunction
with the Arab Academy (late May 2005)
• Joint workshops with Financial Stability Institute,
BIS in Middle East
• SME lender training under US government
guarantee scheme, Kabul, Afghanistan (May &
June 2005)
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Current FSVC Funding Sources
• Government Grant Funding under USAID and US
Department of State grants
• Private Foundation funding (Citigroup, Carnegie)
• Direct projects paid for by client counterparts on a costplus basis , generally for customized training
• Multi-lateral Institution project funding (one-off)
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Sustainability Issues
• Official bi-lateral or multi-lateral funding sources tends to be geographically
oriented or defined, not by issues or policy initiatives
• Voluntary advisory or training modality is not always price competitive with
full time residential advisors
• NGO’s or voluntary associations are disadvantaged under the competitive bid
processes of multi-lateral agencies for consulting services
• Local counterparts (banking associations and training facilities are
chronically underfunded by their own governments and not required to
partner for international best standards and practical training
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Board of Directors and Management
John C. Whitehead
Co-Chairman
Paul A. Volcker
Co-Chairman
John L. Walker
J. Andrew Spindler
Executive Director
For more information, please contact:
Betsey Wood
Senior Managing Director
ewood@fsvc.org
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Financial Services Volunteer Corps
800 Third Avenue, 11th Floor
New York, NY 10022
Telephone: (212) 771-1400
Fax: (212)771-1463
www.fsvc.org
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