South Asia prima monitoring 2008 Fiduciary Forum

South Asia PRIMA Monitoring

• 2008 Fiduciary Forum

Roles of PRIMA in SARFM

• PRIMA is the key depository of official investment lending data guided by:

• FM Manual
• SARFM Quality Guidelines
• (SARFM ARCS & IRIS Guidelines)

• Institutional memory for SAR & OPCFM

• Supervision planning & issues
• Trying to minimize use of ARCS as repository
• Workflow, tracking, and tickler system

SARFM Progress

• All investment lending projects data

• Revamping QA FMS roles

• QA assigned by project, not by country
• No hub concept
• Matching PRIMA w/FM Assessments

• Data scrubbing underway

• Missing, incomplete, errors
• Trouble shooting
• FMR tracking in early stages

Monthly Exception Reports

• SARFM centrally distributes PRIMA reports

• Missing FM risk rating, High risk projects
• FM ISR ratings, Overdue supervision
• Proactive and reactive, top down and bottom up

• ARCS (~8 reports)

• Missing initial data
• Audits not received, reports received but not reviewed

• Bank PRIMA Coordinator distributes ad hoc reports

• Country systems, FMR required, Operational Review required

FMSs Proactively Track Their Own Portfolios

• Supervision due dates

• FMR due dates

• ISR rating differences

• Missing risk ratings

• High risk projects

• Other

Fiduciary Portfolio Reviews

• Manager meets with country teams twice per year

• Review all PRIMA and ARCS exceptions

• Validate FM risk & ISR ratings
• Note gaps, trends, inconsistencies
• Explore staffing options
• Rationalize risk & ISR ratings, workloads

Roles of SARFM Staff in PRIMA