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The Financial Supervisory Service is a special corporation under the Financial Services Commission established in accordance with the Act on the Establishment of Financial Supervisory Organizations, etc. enacted in 1997. The Financial Supervisory Service investigates and inspects each financial institution, such as banks, securities companies, and insurance companies, as well as the education business that protects financial consumers deeply and informs the public about financial common sense.

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Sheriff who keeps the financial markets safe
The Financial Supervisory Service is largely composed of the Ministry of Planning and Insurance, the Ministry of Banking and Small and Small Business Finance, the Capital Markets and Accounting Department, and the Financial Consumer Protection Office. Inspecting and supervising each financial institution we know well, such as banks, securities companies, and insurance companies, and investigating unfair stock trading, such as artificially manipulating stock prices by leaking false information about the company, or sharing undisclosed information only with insiders is an example. In addition, it is responsible for maintaining a sound capital market by examining a company’s securities declaration form (a document that must be submitted to the Financial Services Commission when offering or selling securities, which lists matters related to solicitation, sales, issuer, etc.) and supervising accounting. do. In addition, the Financial Consumer Protection Agency mediates disputes between financial consumers and financial companies and responds to illegal finance such as voice phishing. In addition, it provides useful information necessary for financial education and financial transactions for all age groups, from children to adults.

Perfect collaboration between the regular monitoring team and the inspection team
In each inspection bureau in charge of inspections of various financial companies such as banks, securities companies, and insurance companies, a regular monitoring team is set up for the company’s financial statements (documents showing the company’s financial condition or business performance), BIS ratio (equity capital ratio). It is the ratio of real equity excluding debts among the total capital of financial institutions. Banks have an equity capital ratio of 8%, and in the case of companies, when the ratio is 50% or more, the capital situation is judged to be safe). If a special issue occurs as a result of monitoring, it is analyzed and information is provided to the inspection team for reference in inspection work of financial companies. In addition to the data provided by the regular monitoring team, the inspection team inspects financial companies based on data such as complaints, financial statements, and soundness ratio reported by financial consumers. If a violation of the law is found as a result of the inspection, it is discussed in the Sanctions Deliberation Committee, which is composed of external members such as professors, lawyers, and financial experts, so that the company can clarify and explain the reason. Depending on the result, a fine for negligence is imposed on the company concerned, or the relevant employees are cautioned to suspend their duties and demand action.

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Requires knowledge of business administration, law, economics, etc.
There are no academic backgrounds, required majors, or age restrictions required to work in the Financial Supervisory Service. Recruitment is carried out through blind recruitment without separate document screening, and in the first screening, the National Job Competency Standard (NCS, a national standardized capability such as knowledge, skills, and attitudes required to perform duties in an industrial field) job basic competency It reflects your grades, so you must have communication skills, numeracy skills, and problem-solving skills. In addition, English scores such as TOEIC and TEPS are reflected in 10% of the first written examination. Applicants who have passed the first round must take the written test in the second round by selecting seven fields including business administration, law, economics, IT, statistics, financial engineering, and consumer studies. In order to pass this exam, knowledge in the field is required. After passing the 2nd written test, the final passer will be selected through a physical examination and background check, after going through a practical interview asking about practical work and an interview with an executive.

■ Job stories from incumbents of the Financial Supervisory Service

Han-eun Ryu is a senior investigator in the Financial Education Planning Team of the Financial Education Bureau.  photo Hongjoo Son

Han-eun Ryu is a senior investigator in the Financial Education Planning Team of the Financial Education Bureau. photo Hongjoo Son

“Learn financial common sense in connection with subjects such as social studies and mathematics”
Haneun Ryu, Senior Investigator, Financial Education Planning Team, Financial Education Bureau

Q. Many people think that the Financial Supervisory Service is only a place to supervise financial institutions or to listen to and resolve consumer complaints, but it also provides financial education for all citizens.
The financial education provided by the Financial Supervisory Service since 2002 is aimed at helping financial consumers to properly understand financial products and transactions, and to acquire the right financial knowledge and habits to make rational decisions. These days, digital financial transactions have become more active, and many new financial products that have not been seen before are emerging. The more this happens, the higher the financial common sense of financial consumers. Accordingly, the need for financial education to prevent possible damage is further emphasized.

Q. I heard that the ‘Act on the Protection of Financial Consumers’ will be enforced from last year, and the importance of financial education will increase. Please introduce the various financial educations conducted by the Financial Supervisory Service.
you’re right. A policy to raise the quality of financial education contents and train related education personnel so that all age groups can receive financial education by establishing the Financial Education Council, which includes the Ministry of Strategy and Finance, the Financial Services Commission, and the Ministry of Education, and the Financial Supervisory Service and eight government ministries. I plan to promote First, we are operating the ‘One Company, One School Program’ for elementary, middle and high school students so that schools and financial companies can form a partnership so that financial companies can provide financial education. In addition, to expand financial education within the school, we made a textbook-like book together with the Korea Curriculum and Evaluation Institute. Textbooks and instructors are provided to schools where the ‘University Practical Finance’ course is opened as a regular university subject. It also educates adults on how to prevent financial fraud and financial planning, and provides guidebooks to North Korean defectors, international students, foreign workers, and multicultural families to help them settle in Korea and lead a stable financial life.

Q. Fintech is developing day by day, and even the international situation is unstable these days due to the war between Russia and Ukraine. As the financial environment changes, the work of the Financial Supervisory Service seems to change accordingly.
If there are financial markets, financial companies, and financial consumers, the supervision, inspection, and consumer protection functions of the Financial Supervisory Service are absolutely necessary. Of course, it is true that the international financial market is unstable, but since this is a situation that can occur at any time, it is possible to monitor and respond quickly. The biggest topic of discussion these days with the Financial Supervisory Service is how to protect information-vulnerable classes such as the elderly and multicultural families. Many banks are reducing their branches due to digitalization. As a result, financial consumers are directly selecting and subscribing to financial products online. As a result, there are bound to be people who find it difficult to use finance and are marginalized. For these, we are working with welfare centers to find ways to provide customized financial education or create financial application guidelines.

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Q. Are there any ‘occupational diseases’ that you had while working at the Financial Supervisory Service?
While moving around 10 departments for 20 years, I was responsible for inspecting various banks and savings banks, and I didn’t see any particular disadvantages. However, he has developed a habit of analyzing anything in his daily life. For example, when using a lodging facility while on vacation, I often find out who the shareholders are, what the sales are, what the credit rating is, which financial company financed the construction, etc. (laughs)

Q. You pointed out that there are no majors or qualifications required to work at the Financial Supervisory Service. If so, wouldn’t it be helpful if I study harder in middle and high school?
It is helpful to take an interest in finance-related topics by using social studies or math knowledge in school subjects. It is recommended that you study with the ‘Cross-Curriculum Financial Education Guide’ provided by the Financial Supervisory Service for free so that you can learn financial common sense tailored to the curriculum. For example, simple and compound interest can be understood with exponential and logarithmic functions of mathematics, and socially responsible investment (investment considering various social performances such as human rights, environment, labor, and nature protection in addition to corporate financial performance) in life and ethics. You can learn the concept. The ‘e-Financial Education Center’ website ( provides financial education contents tailored to the level of middle school and high school, so please stop by.

Financial Supervisory Service inspector job information at a glance

Financial Supervisory Service inspector job information at a glance

Jeong-ah Jeon, reporter for MODU magazine
Written by Jeon Jeong-ah ‧ Photo by Son Hong-joo, Getty Image Bank


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