Ms. Irit Mendelson, Director
of the Accounting, Payment and Settlement Systems Department, announces that she will step down from her position following
eight years
The Director of the Accounting,
Payment and Settlement Systems Department, Ms. Irit Mendelson, has requested
from the Governor of the Bank of Israel to step down from her position as
member of the Bank's management and as Director of the Department, at the end
of March 2020, following eight years in the position.
.
Mendelson headed a joint committee
to promote the use of advanced means of payment, which published its final
report in 2017. She serves as a member of the committee to implement the law to
promote competition, and serves as a member of the Financial Stability
Committee. During her term, the oversight and regulation of the payment systems
and services was advanced, Masav and Shva were placed under oversight, laws
regulating consumer protections, licensing, and oversight of payment services,
electronic check clearing, and regulation of check endorsements were advanced
and implemented as part of the Cash Law.
In addition, Mendelson led the
adoption of advanced technological systems, information analysis, improving
controls, and processes to increase efficiency in the payment systems and
clearing houses operated by the Bank of Israel, the Bank of Israel's banking
services to the government, and the Bank of Israel's financial statements.
Ms. Irit Mendelson said,
"I would like to thank Governors Prof. Amir Yaron, Prof. Karnit Flug, and
Prof. Stanley Fischer, and Bank of Israel Director General Hezi Kalo, for the opportunity
they gave me to advance the payments field in Israel, and to take part in a wide
range of the Bank's roles during this important period. I am especially
grateful to the APSS Department staff, members of the Bank's management, and
all my colleagues both at the Bank of Israel and outside it. I complete eight
years in the position with a sense of tremendous satisfaction, and appreciate
the trust placed in me to lead significant work to benefit the Israeli
economy."
Bank of Israel Director
General Mr. Hezi Kalo said, "Irit was in charge of a wide variety of
activity at the heart of the Bank of Israel's work in particular, and the
Israeli economy in general. The payment systems, the Bank of Israel's banking
services to the government and to the banking system, and the accounting and
control systems at the Bank of Israel itself, were significantly advanced
during her term, and prepared the Bank for the challenges of the modern
financial economy. I thank Irit for her professionalism, her cooperation, and
her dedication in every area in which she worked."
Bank of Israel Governor Prof.
Amir Yaron said, "The areas for which Irit is responsible at the Bank
of Israel are very important. The payment systems and banking services to the
government and to the banks are a critical juncture in the smooth functioning
of the financial systems in the Israeli economy. In her quiet way, Irit managed
the department while insisting on international professional standards,
attentiveness to all the small details, and a forward-looking view. I thank
Irit for her decades of dedicated work at the Bank of Israel, and wish her
success in the future."