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Wednesday, May 25, 2022
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Banco de España fires manager who took cash and no receipt to train opponents

The Bank of Spain has carried out an internal restructuring and has decided to put up for internal competition the position of the Directorate of Dispute Resolution, which has so far been held by Inspector Alberto Casillas, according to sources familiar with the media’s decision. reported six months ago that the manager, like his brother Juan and Patricia Navarro-Rubio, also inspectors, attended non-supervisor courses for opponents who aspired to join the inspectorate. According to this investigation, these courses were paid for in cash and without receipts.

These sources indicate that the removal of Casillas comes as part of an internal restructuring within the curator. This Wednesday, the Bank of Spain announced the appointment of a new Deputy Director of Supervision II, Agustín Pérez Gasco, although the statement sent to the media did not reveal major changes in the body’s internal organizational structure. The position became vacant following the appointment of Alberto Ríos as CEO of Financial Conduct and Banknotes. This appointment is already displayed in the internal organizational structure of the bank, but not the dismissal of Casillas.

Internal sources of the organization explain to this medium that they have been speculating on the dismissal of this inspector from his post since exposed his business in October in forming opponents, which gave him a hefty cash bonus. According to these sources, the difficult situation of Casillas, who, in turn, participates in various international organizations on behalf of the Bank of Spain in connection with his position as director of dispute resolution, even became known to the European Central Bank.

A lengthy investigation carried out by this media showed that these three inspectors have been taking courses for opposition candidates for at least five years in four subjects that are necessary to obtain an inspector position at the Bank of Spain, a position that guarantees a starting salary of 55,000 euros in year. This document confirms how some of these students paid up to €10,000 for these courses without receiving receipts or proof of payment, and without having a diploma or recognition for these studies. The cost of classes was about 160 euros per month per student.

This kind of shadow academy was not advertised on the Internet or anywhere else, and students came to it through contacts they already had, or by word of mouth among applicants, overcoming resistance. The three professors are well-known technical specialists and teach subjects directly related to their duties at the Bank of Spain, which is an added advantage for students in preparing for these difficult exams. Applicants for these positions very often approach people with professional experience in the sector. And these three coaches, according to the interviewed opponents, have earned a reputation as one of the best.

Alberto Casillas Cuevas is considered an outstanding specialist in the field of accounting. Having received a law degree, he worked in the supervisory body for almost a quarter of a century until he was promoted in the organizational structure to Director of the Permit Department, a position he has held since May 2015. The position of director of the department gave him access to participate in the main international organizations on financial supervision, acting on behalf of the Bank of Spain. He is a member of the resolution committee of the Single Dispute Resolution Board (SRB), the European body that enforced the Banco Popular decision in 2017. It also participates in the EBA, the European Banking Supervisory Authority or FSB, which brings together the banks of the world’s major economies. In addition, he has a published book, “Financial Mathematics (through the Exams of the Bank of Spain)”, which is used as a reference in the preparation program for these exams for access to public places.

Bonuses over 3000 euros

As this host confirmed, Casillas taught accounting classes via Zoom one day a week, taking about three hours. He hosted students at his apartment in the Salamanca district of Madrid every first day of the month to receive this amount in cash. Typically, this curriculum lasts at least one and a half to two years. When introduced this device, he taught courses in at least two groups with twenty opponents, which brought him a monthly income of more than 3,000 euros, not counting the supervisor’s salary. Thus, Casillas was consulted on this cash class system, but he ruled out an estimate of it.

During the months of the pandemic, when the quarantine was introduced, some of his students asked him about the possibility of a transfer to pay for classes. The professor and senior official of the Bank of Spain requested, according to these opponents’ testimony, that they wait until the Government loosens restrictions on mobility in order to collect everything in one fell swoop: through remittances, which he usually receives personally, or through his brother. He communicated with them regularly via corporate email at the Bank of Spain.

According to the Bank of Spain, the inspector had recognized compatibility with private activities. Although the permission since 2015 has been “to engage in private teaching at the Center for Professional Studies”, another organization that has nothing to do with the academy he improvised with his colleagues from the Bank of Spain. The organism claimed that they “evaluate” the published information “in case it continues to perform some action.”


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