CARLOS EDUARDO RUIZ VILLARREAL

Economist from the Rosario University and MSc in Economics from the National University of

Colombia. Carlos Ruiz created CERE SAS in July 2013, after 12 years of experience as an independent

consultant and as an associate consultant for the International Consulting Consortium INC (ICC)

and others 13 years of senior experience in top positions on Colombian government agencies

As ICC senior consultant and project manager, he carried out the diagnosis of the state of

regulation and supervision for the Ecuadorian insurance sector, drafted the new regulatory

framework that is now in force in that country and strengthened the supervision methodology of

this sector; for the Nicaragua Banks Superintendency and the Honduras Banking Commission he

participated in the design of the microfinance supervision methodology and guided on-site

inspections based on this new methodology; in the Guatemala Banks Superintendency he led the

project to review and update the procedure to manage banks with financial weakness; for the

Peru Banks Superintendency he participated in the team that reviewed the auxiliary supervision

scheme for cooperatives; for the El Salvador Banks Superintendency he reviewed the draft law for

the Guarantee Funds for Savings and Credit Cooperatives and Savings Banks; for the National

Banking Commission of Mexico he reviewed the possible modifications of the Popular Savings and

Credit Law, to speed up the regularization of savings and credit cooperatives and adjust the

auxiliary supervision scheme. Most of this with projects were sponsored by USAID and IDB.

As independent consultant he focused on two fields and main clients:

1. With the German Confederation of Cooperatives-DGRV designing and implementing the

Deposit Protection Systems in Mexico, El Salvador, Costa Rica and Paraguay and

strengthening the management of the centralized liquidity scheme for financial

cooperatives in El Salvador and Ecuador.

2. Government consultancies. For Colombia, he advised the Ministry of Finance reviewing

the regulatory framework of the Colombian insurance industry; for the Ministry of Social

Protection he designed and supported the issue of solvency regulation for the public-

private health insurance segment; for the Central Bank of the Dominican Republic (World

Bank) he wrote a diagnosis of the insurance sector regulation and drafted a proposal for a

regulatory update; for the Ecuadorian Banks Superintendency he trained staff and

launched the implementation of the new regulatory framework for the insurance industry.

Under CERE SAS, he has led several projects for CAF, Development Bank of Latin America, in the

inclusive insurance, auxiliary supervision for financial cooperatives and supervision of insurance

entities.

The firm has also ventured into legal activities regarding project evaluation associated with state

concessions; expert reports for arbitration tribunals and relevant market studies for business

integrations and research for market malpractices, especially on the energy mining sector.

Carlos Ruiz's professional career began in the Colombian financial system and was focused on its

regulation, supervision and control. He worked at the Colombian Financial Superintendency as

Deputy Superintendent of financial intermediation, Deputy of Insurance and Capitalization and

Deputy of Cooperatives and advisor and Head of Division. At this entity he designed the regulation

of solvency margin, technical liabilities and premiums for the insurance industry; he was

responsible for setting up the financial cooperatives supervision area and managed the crisis in the

sector, at the same time. He was senior manager in the public deposit insurance systems for banks

and cooperatives, as technical deputy director of the Guarantee Fund for Financial Entities and as

the General Director of the Guarantee Fund for Cooperative Entities, which he helped design, and

as the first director was its organizer.

He has 31 years of teaching experience (lecturing) at the Universidad del Rosario, Universidad

Nacional de Colombia and Externado de Colombia, in the following courses: Macroeconomics,

Microeconomics, Monetary Theory, Political Economy, Introduction to Risk Management and

Capital Models.