Decision No. 15/2000/QĐ-NHNN4 On Issuing the Inspector Regulation of the State Bank

Pursuant to …;

Regarding the issuance of the Inspector Regulation of the State Bank

GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to the Law on the State Bank of Vietnam No. 01/1997/QH10 dated December 12, 1997;
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the tasks, powers, and responsibilities for state management of ministries and ministerial-level agencies;
Based on Decision No. 418/TCCP-VC dated May 29, 1993 of the Government Organizational Cadre Board regarding the issuance of business standards for banking civil servants;
At the proposal of the Director of the Civil Servant Organization and Training Department and the Director of the General Inspection Department of the State Bank,

DECISION:

Article 1.||| The Inspector Regulation of the State Bank is hereby promulgated along with this Decision.

Article 2.||| This Decision shall take effect fifteen days from the date of signature and replace Decision No. 283/QĐ-NH4 dated December 18, 1992 of the Governor of the State Bank promulgating the Inspector Regulation of the State Bank.

Article 3.||| The Heads of the Office, the Directors of the Civil Servant Organization and Training Department and the General Inspection Department, the Heads of units under the State Bank, and the Governors of the State Bank Branches in provinces and centrally governed cities are responsible for implementing this Decision./.

REGULATIONS

Inspector of the State Bank
(Issued together with Decision No. 15/2000/QĐ-NHNN4 dated January 11, 2000 of the Governor of the State Bank)

Chapter I

GENERAL PROVISIONS

Article 1. The Inspector of the State Bank is a specialized civil servant who performs oversight of the activities of units within the State Bank system and internal auditing of units carrying out central bank operations.

Article 2. Inspectors of the State Bank are assigned to the Central State Bank (General Inspection Department and some Departments, Bureaus), and State Bank Branches in provinces and centrally governed cities.

Inspectors of the State Bank are subject to direct management and direction by the heads of units concerning organization and labor, and to professional direction by the General Inspection Department.

Article 3. The Inspector grade of the State Bank includes: Inspector; Senior Inspector; and Senior Inspector (High Rank). Banking civil servants appointed to these grades must have good political qualities, moral character; a sense of responsibility, honesty, and objectivity while performing their duties.

Chapter II

DUTIES AND BUSINESS STANDARDS OF THE INSPECTOR GRADE OF THE STATE BANK

Article 4. Inspector of the State Bank:

1. Specific duties:

a) Develop plans for inspection and audit within the scope of assigned tasks, ensuring that all State Bank activities are closely monitored and effectively audited.

b) Directly conduct regular, surprise, and periodic audits of compliance with policies, regulations, and procedures for State Bank activities within the assigned scope. Record inspection and audit reports; propose and recommend measures to address violations and shortcomings and bear personal responsibility for such recommendations.

c) Summarize and evaluate inspections and audits of State Bank activities within the assigned tasks.

d) Through inspection and audit results, propose and recommend amendments to procedures, regulations, and management measures to prevent violations.

đ) Report inspection and audit results to competent authorities as prescribed; propose measures to improve inspection and audit work.

2. Knowledge:

a) Understand policies, laws related to banking activities.

b) Understand principles and administrative procedures of state management.

c) Be familiar with principles, systems, and practices regarding currency, credit, payment, and banking.

d) Understand inspection practices, have analytical and comprehensive evaluation capabilities for operational activities at a unit.

đ) Have practical skills in inspection and audit.

3. Qualifications:

a) Hold a university degree in economics, finance, or banking.

b) Have attended training courses in inspection and audit according to the program of the State Bank.

c) Know at least one foreign language at level A.

d) Have worked in the banking sector for at least three years.

Article 5. Senior Inspector of the State Bank.

1. Specific duties:

a) Develop work programs and lead inspections and audits within the scope of assigned tasks, contributing to enhancing safety factors in the operation of the State Bank system.

b) Organize and directly implement regular, surprise, and periodic audits to ensure compliance with regulations and procedures for banking activities within the assigned scope. Record inspection and audit reports; propose and recommend measures to address violations and shortcomings and bear personal responsibility for such recommendations.

c) Participate in developing inspection and audit procedures; mechanisms and regulations for banking activities.

d) Report on the results of inspection and audit work; summarize, analyze, evaluate, and draw lessons from inspection and audit work within the assigned scope, thereby recommending improvements to mechanisms and management of the State Bank.

đ) Participate in compiling materials and textbooks for training and improving inspection and audit skills for Inspectors.

2. Knowledge:

a) Fully understand Party policies and state laws related to banking activities.

b) Fully understand principles and administrative procedures of state management.

c) Understand the actual situation of economic and social activities affecting banking operations and propose areas for inspection and audit to strengthen the role of the State Bank.

d) Fully understand principles and practices regarding currency, credit, payment, and banking.

đ) Fully understand inspection and audit practices, have practical skills and the ability to guide and manage inspection and audit activities, members of inspection and audit teams, and review conclusions of Inspectors.

e) Have analytical and comprehensive evaluation capabilities for the activities of a unit or a management area of the State Bank.

f) Have the ability to organize and implement inspection and audit requirements.

3. Qualifications:

a) Hold a bachelor's degree or higher in economics, finance, or banking.

b) Be an Inspector and have served in the Specialist grade and Inspector grade for a total of nine years.

c) Have attended training courses in economic management and state administrative management.

d) Have attended advanced training courses in inspection and audit according to the program of the State Bank.

đ) Possess creative projects in bank activity oversight that are recognized and effectively implemented.

e) Know at least one foreign language at level B.

f) Have completed basic computer class.

Article 6. Senior Bank Inspector of the State Bank:

Senior Inspectors may only be assigned to the Central State Bank and Branches of the State Bank in provincial and municipal centers of the first category.

1. Specific duties:

a) Develop plans for inspection and audit programs concerning all aspects of State Bank activities, including cases with relatively complex circumstances.

b) Organize, direct, and guide the implementation of oversight and auditing of all aspects of State Bank activities according to the Law on the State Bank of Vietnam.

c) Organize and lead oversight and auditing of cases related to multiple banking activity fields.

d) Directly conduct regular and surprise inspections; perform periodic audits of the implementation of regulations, rules, and systems within the State Bank system comprehensively. Record inspection and audit reports; propose measures to address violations and deficiencies and take personal responsibility for their recommendations.

đ) Lead or participate in developing mechanisms and regulations regarding banking operations and oversight and auditing procedures.

e) Lead the compilation of materials and development of content and training programs for banking oversight and auditing skills for State Bank Inspectors.

f) Lead research topics on banking oversight and auditing at the sectoral level.

h) Summarize, evaluate, and draw lessons from oversight and auditing work; on this basis, propose amendments and supplements to banking operational policies and systems.

2. Knowledge:

a) Firmly grasp the Party's guidelines, policies, state laws, and strategic economic and social development goals relevant to banking activities during each period.

b) Firmly grasp and accumulate extensive experience across monetary, credit, payment, and banking business areas.

c) Possess extensive experience in banking oversight and auditing activities.

d) Have the ability to summarize and research in banking oversight and auditing work.

đ) Have a deep understanding of the economic and social conditions related to banking activities.

e) Understand domestic and international banking oversight and auditing practices.

3. Qualifications:

a) Hold a bachelor’s degree or higher in economics, finance, or banking.

b) Be a Principal Inspector, with six years of service in the Senior Officer and Principal Inspector ranks.

c) Have attended advanced training courses in banking senior inspector auditing.

d) Have completed a course in high-level administrative state management.

đ) Have research works or comprehensive projects recognized by the industry Scientific Council and effectively implemented.

e) Know at least one foreign language at level C.

f) Have a high-level political theory qualification.

, Clause 1, Clause 2 Article 7a of this Regulation.. Appointment, Removal, Rank Advancement, and Transfer of State Bank Inspectors.

1) The appointment, removal, rank advancement, and transfer of Inspectors and Principal Inspectors of the State Bank shall be decided by the Governor of the State Bank.

2) The appointment, removal, rank advancement, and transfer of Senior Inspectors of the State Bank shall be decided by the Minister, Head of the Government Organizational Cadre Department.

3) Rank advancement of State Bank Inspectors must pass a rank advancement examination as prescribed.

4) A dismissed Inspector shall not be reappointed.

Article 8. The Governor of the State Bank uniformly manages all Inspector ranks within the State Bank system. Any Inspector's assignment to other tasks must be approved in writing by the Governor of the State Bank.

Chapter III

RESPONSIBILITIES, LIMITATIONS, AND BENEFITS OF STATE BANK INSPECTORS

Article 9. Responsibilities of Inspectors.

1) During the performance of duties, Inspectors must be independent and comply with the law; adhere to professional principles, standards, and state policies and State Bank regulations. No agency, organization, or individual may interfere illegally in Inspector activities.

2) Continuously improve professional capacity, update knowledge, maintain professional ethics during oversight and auditing; uphold independence, objectivity, honesty, and safeguard state secrets as stipulated by law.

3) Bear responsibility for the rationality, accuracy, and objectivity of inspection and audit reports and conclusions. Report inspection and audit results and proposed solutions to competent authorities.

Article 10. Powers of Inspectors.

1) Have the right to request inspected and audited units to provide information and documents for oversight and auditing purposes; have the right to require unit heads to take corrective actions for discovered violations and handle individuals obstructing oversight and auditing activities.

2) Inspectors may enter State Bank cash vaults to inspect and supervise according to their assigned functions and responsibilities.

3) Inspectors may retain opinions presented in inspection and audit reports; may request competent authorities to reconsider disciplinary decisions or dismissals affecting themselves.

4) Principal Inspectors and Senior Inspectors have the authority to halt the execution and propose to competent authorities to revoke regulations of inspected and audited units that contravene state policies and laws and State Bank regulations.

5) Inspectors may report directly to the Director of the General Inspection Department or the Governor of the State Bank when necessary.

Article 11. Benefits of Inspectors.

1) State Bank Inspectors enjoy remuneration and benefits as prescribed for civil servants, and are equipped with necessary technical means for internal oversight and auditing activities.

2) The State Bank of Vietnam’s Inspector shall be entitled to receive monthly responsibility allowances as prescribed by the State. While performing inspection and supervision tasks, the State Bank of Vietnam’s Inspector shall also be entitled to receive allowances for night work, overtime, hazardous work, and other supplementary benefits as prescribed.

3) The State Bank of Vietnam’s Inspector shall be provided with specialized training and professional development.

4) The State Bank of Vietnam’s Inspector who meets the standards and conditions set forth by the State and the Governor of the State Bank of Vietnam shall be eligible to take examinations for promotion to a higher rank according to the prescribed regulations.

Chapter IV

REWARD AND DISCIPLINE

Article 12. The State Bank of Vietnam’s Inspector who achieves outstanding results in control and internal audit activities shall be awarded honors and commendations as prescribed by the State and the State Bank of Vietnam.

Article 13. In case the State Bank of Vietnam’s Inspector fails to fulfill their duties with due diligence, fails to detect violations in a timely manner, or covers up for organizations or individuals who violate laws, State mechanisms, and regulations of the State Bank of Vietnam during the performance of their duties, leading to losses of State assets, they shall be subject to disciplinary action, administrative penalties, material compensation, or criminal prosecution as prescribed by law depending on the nature and severity of the violation.

Chapter V

IMPLEMENTING PROVISIONS

Article 14. Amendments and supplements to this regulation shall be decided by the Governor of the State Bank of Vietnam./.