Silvia Canales

Consortium Legal

Silvia Canales is partner at Consortium Legal - Costa Rica and is the head of the Regulatory Compliance Department and the Insurance Practice. She has more than 15 years of experience in financial market supervision, including the position of Legal Adviser in the Administrative Department and in the National Treasury of the Ministry of Finance. She has considerable experience in both the compliance and insurance areas, as she was the Intendent of the Insurance General Superintendence for the last 3 years. 

Since 2009 she was the Legal Director of the aforementioned Superintendence, and before that she held the same position in the Pensions General Superintendence in 2003, leading authorization, regulation and supervision processes in financial markets, from a legal point of view. She has also been Legal Counsel for the President of the International Association of Pension Funds Supervisory Organism and to the Negotiating Committee of the collective labor agreement of the Costa Rican Central Bank, representing the employers. With the opening of the Costa Rican insurance market, Ms. Canales acted as evaluator in Pair Review exercises for different latinamerican countries, in accordance with the principles of the Association of Latin American Insurance Supervisors (ASSAL) and international Association of Insurance Supervisors (IAIS). Additionally, she validated postulations from member countries for the execution of memorandums of understanding for the exchange of information among such countries.

Ms. Canales represented Costa Rica in the OECD Insurance and Private Pensions Committee and has also participated in multiple local and international forums regarding insurance and Risk-Based Supervision (RBS), which is gradually becoming the dominant approach to regulatory supervision of financial institutions around the world.

EDUCATION

Master in Business Administration with emphasis in Banking and Finance, University of Costa Rica, 2000.
Notary Public, University of Costa Rica, 1998.
Law degree, University of Costa Rica, 1998.

LANGUAGES

Spanish
English

ASSOCIATION

Costa Rican Bar Association. 
Private Insurers Association of Costa Rica, member of the Legal Committee.

 

www.consortiumlegal.com

costarica@consortiumlegal.com