Washington, D.C.—The Conference of State Bank Supervisors (CSBS) announced that the Arizona Department of Financial Institutions (the Department) has received a certificate of accreditation, certifying that the Department maintains the highest standards and practices in state banking supervision set by the CSBS Accreditation Program. The Department has maintained accreditation for 16 years.
“It’s my pleasure to congratulate Superintendent Kingry and his staff on receiving reaccreditation,” said John W. Ryan, President and CEO of CSBS. “As a recipient of the CSBS certificate of accreditation, the Arizona Department has voluntarily put itself through a rigorous review process and demonstrated to the CSBS accreditation team that it is committed to providing sound supervision in the state of Arizona.”
“The standards set by the CSBS accreditation assure examination excellence and we would not have been successful in this accomplishment without the committed work from Department staff and the commitment to excellence from Governor Jan Brewer’s office,” said Lauren Kingry, Superintendent of the Arizona Department of Financial Institutions.
Kingry was appointed Superintendent in 2010. As head of the Department he is responsible for overseeing the department’s duties of licensure, supervision and regulation of state chartered financial institutions and enterprises.
The CSBS Accreditation Program involves a comprehensive review of the critical elements that assure a banking department's ability to discharge its responsibilities. This is done through an investigation of all department operations including, administration and finance, personnel, training, examination, supervision, and legislative powers. The high standards set by the Accreditation Program supports CSBS public interest goals by encouraging state banking departments to enhance their capability to promote safe and sound banking with a minimum of regulatory burden and cost, and by identifying highly competent state banking departments. The CSBS accreditation seeks to strengthen state banking departments and to demonstrate the high quality of state banking departments to the general public, the federal banking agencies, Congress, and other state banking departments.
More information on the CSBS Accreditation Program is available here.