Winners of the Leadership and Diversity Program for Regulators Scholarship
The Access to Insurance Initiative (A2ii) and the InsuResilience Global Partnership have jointly sponsored the participation of two senior insurance supervisors and high potential women from their authorities for the 2019 cohort of the Leadership and Diversity Program for Regulators developed by Women’s World Banking and faculty from Oxford University’s Saïd Business School.
Description of the training
This nine-month global program brings together up to 20 senior officials from central banks and other regulatory agencies in developing economies, with 20 high-potential women from their respective institutions. Each senior official will identify a policy initiative to sponsor at his or her institution related to serving the women’s market and will work with the high-potential woman leader to implement it, while simultaneously supporting her professional development during and after the program. The curriculum will focus on policy development and leadership competencies to support the advancement of the policy initiative. The program will start in January 2020 with virtual learning sessions and conclude in September 2020.
Objectives of the training
- Strengthen the role that regulators and policymakers can play in creating an environment that promotes the financial inclusion of women
- Build the pipeline of women leaders in regulatory bodies through sponsorship of high potential women leaders
- Development of specific policies to support national financial inclusion strategies that are women-focused
- Build leadership capacity of senior officials and high-potential women leaders
More information about the program can be found here: https://www.womensworldbanking.org/leadership/leadership-and-diversity-for-regulators-program/
The scholarships were awarded to two teams, one representing the Office of the Supervisor of Insurance and Private Pension of Belize and the other representing the Financial Institutions Division from the Ministry of the Finance of Madagascar. The scholarship covers the tuition for a nine-month global program bringing together senior officials from central banks and other regulatory agencies in online formats as well as in a one-week course at Saïd Business School. During this training senior level participants had to identify a policy initiative to sponsor at their institution related to serving the women’s market they would jointly implement with the high-potential woman leader to implement it.
The team from Belize worked on a project to develop financial independence by insuring the “un-insurable”, including short-term recovery assistance and establishing faster recovery of insurance payout. The team from Madagascar worked on supporting the formalization of “saving groups” and adapting the insurance law to improve poor household’s access to insurance. The training was perceived as being very useful for the participants, as it allows them to move from regulation and supervision (focusing on implementing legislation) to becoming “enablers” of development and taking a more proactive role in insurance market development. Based on this success, A2ii and InsuResilience have decided to again sponsor two participating institutions for the 2020 cohort of the Leadership and Diversity Program for Regulators (call for applications now closed).