01 June 2021
In line with its 3-year strategic priorities focusing on the Single Rulebook, risk tools, data, digital finance, anti-money laundering and counter terrorism financing (AML/CFT), and environmental, social and governance (ESG) factors, the European Banking Authority (EBA) announced today a series of changes to its internal organisation. The new structure, which enters into force as of 1 June 2021, aims at fostering synergies, increasing focus, and developing staff.
A new Data Analytics, Reporting and Transparency department is being created. It brings together the EBA’s Units dealing with Statistics and with Reporting and Transparency. The department will be instrumental in allowing the EBA to reap all the benefits of a data strategy started several years ago: it will help further ground policy and risk analysis work in quantitative and qualitative data, and provide information to all its stakeholders. Meri Rimmanen, currently a Head of Unit at the EBA, becomes the Director of the Data Analytics, Reporting and Transparency department as of 1 June 2021.
The EBA’s financial stability and risk work is further strengthened within an Economic and Risk Analysis department. The department includes the EBA’s current Economic Analysis and Impact Assessment Unit and Risk Analysis and Stress Test Unit, as well as a newly created ESG Risks Unit to root the EBA’s ESG work in risk identification and measurement. This will contribute to refining and expanding the EBA’s already broad range of financial stability analyses and risk products, including EU-wide stress-testing. Jacob Gyntelberg, until recently Deputy Chief Risk Officer at Nordea Group, has been selected as the Director of the Economic and Risk Analysis department and should start in his new position on 1 August 2021.
After a build-up phase in recent months, a standalone AML/CFT Unit is created to carry out the new tasks conferred to the EBA as of 1 January 2020. It will work in close cooperation with the Conduct, Payments and Consumers Unit and with a Unit focussing on Digital Finance within the EBA’s (renamed) Innovation, Conducts, and Consumers (ICC) department.
Click here to access the revised EBA organigram.
Director of Data Analytics, Reporting & Transparency: as of 1 June 2021, Meri Rimmanen is responsible for the EBA’s data hub, analytical tools and data services, as well as the development and maintenance of the authority’s integrated supervisory reporting and disclosures framework. Previous to her appointment, she has led the EBA’s Unit dealing with reporting, loan management and transparency. Meri joined the EBA at its inception and has worked on a wide range of reporting, data quality management, analytical tools and risk analysis issues. Prior to joining the EBA she worked in banking supervision, prudential policy and risk analysis at the Finnish Financial Supervisory Authority.
Director of Economic & Risk Analysis: As of 1 August, Jacob Gyntelberg will be responsible for all the EBA’s work on economic and risk analysis. Jacob has over two decades of experience in financial stability, risks, regulation, and capital markets. Until recently, he was Deputy Chief Risk Officer for the Nordea Group. Prior to that, he had been responsible for regulatory strategy and capital management at another large bank and worked for 13 years at the Bank for International Settlements, in Basel and Hong Kong, dealing with a wide range of global financial stability issues, central bank cooperation, regulation of global derivatives markets regulation and the Libor scandal. Jacob has written numerous research papers and analysis pieces focused on financial markets, economic and regulatory developments, and central bank policy issues. His most recent research is focused on the cost of capital for banks. He has taught for several years at the University of Copenhagen and the Copenhagen Business School and is currently an external assessor in economics covering the Master and Bachelor programs at the University of Copenhagen and Aarhus University.