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Tuesday, 23rd April 2024
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Going in the right direction Back  
As deputy chief executive of the Irish Bankers Federation, a typical day for Enda Twomey involves co-ordinating the work of the Federation of International Banks in Ireland (FIBI), responding to EU regulatory developments, and meeting with member institutions.
6.50am Up before alarm. Quick shower and ready to go. I have cereal if eldest son Oscar (5) is ready for breakfast with me. Lynne and my three other children (Sally, Charlie and Isaac) are still slumbering as I set out for work on my bicycle, listening to Morning Ireland for news in relation to the financial services industry.

7.35am I arrive in the office having purchased my morning fix from Caf? Sol. Check emails and newspapers. Review schedule of work for the day and set priorities.

8.00am Technical Direction Group - meet Brian Binchy, our research analyst, half an hour before the internal IBF Technical Direction Group meeting to go over updated ‘watchlist’ he produces every fortnight. This sets out the areas in which IBF is involved and the more pressing matters to be addressed.
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Going in the right direction

8.30am Chair the Technical Direction Group meeting, attended by Brian, Pat Farrell (CEO), Cathrine Burke (head of accounting and taxation) and Paul O’Connor (head of risk and prudential supervision). A lively debate ensues over the EU Commission’s meeting to decide on the application of International Accounting Standards and the effects of the different proposed options. The caffeine must be kicking in! We decide on the pressure points to be addressed over the next two weeks, with Brian responsible for writing the action points.

9.30am Meet with my PA Julie Heraghty to prepare for the meeting of the Chief Executives Forum of the Federation of International Banks in Ireland (FIBI) and to plan for the week ahead. We continue our work on FIBI marketing materials that are crucial to our commitment to promote Ireland as a top location for international financial services. Having decided the content of the various papers and guest articles, we focus on the main section - a description of all activities undertaken by the international banks in Dublin. Our trawl through primary research and the sound advice from various members has resulted in an impressive presentation on the various business models and clusters of activities in the Irish financial marketplace.

11.30am Review the final draft paper from the European Banking Federation setting out its views on what the agenda for the EU should be in relation to financial services in light of the new Parliament and Commission. Discuss on phone with EBF’s Tanguy van de Werve. Spend time finalising our submission to the Commission on this matter.

1.00pm Lunch with Mike Ryan (chairman of FIBI) to discuss progress of the busy FIBI Work Programme not to mention brief consideration of the relative merits of the Cork and Tipperary hurling teams!

2.00pm Check constant stream of emails and phone messages leading to an assessment of progress on our response to the Office of the Director of Corporate Enforcement regarding requirements for directors’ compliance statements; discuss arrangements for the next Working Group meeting.

2.30pm Internal meeting to update on the new FIBI risk panel set up to review matters relating to the proposals on the new Capital Adequacy Framework and deal with regulatory capital issues applicable to wholesale banking instruments.

3.00pm Attend one of our regular meetings with one of our member institutions to hear how their operation in Ireland is progressing and assess impact of IBF’s contribution to their business objectives.

4.00pm Decide details of the joint IBF/Institute of Bankers’ conference, which will focus on the new regulatory regime in Ireland; involves update on our work to identify and meet skills gaps in the banking and financial services industry.

5.00pm Meet with John Clinton of our affiliate, the Irish Mortgage Council (IMC), to consider our participation in the proposed European Covered Bonds Council that would operate under the auspices of the European Mortgage Federation Council. We agree this is a critical issue to pursue, particularly given the in-depth involvement of IBF and IMC in developing the Irish covered bond market.

6.00pm Ring Lynne to tell her I’m on the way home. Looking forward to watching with the older children the mighty Glasgow Celtic once again upset the odds in a European competition!

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