Costa Rica's National Council for Supervision of the Financial System (CONASSIF), convened to oversee matters of the Superintendence of Pensions (SUPEN), has unanimously appointed Hermes Alvarado Salas as superintendent for a five-year term starting 26 May 2025. The appointment was made under Article 172 of Law 7732 following an open public selection process launched on 14 March that received 11 applications and was led by CONASSIF’s appointments committee. Applicants were assessed against statutory requirements and evaluated on academic and professional credentials and experience, including in the pensions sector, followed by a technical and competency assessment and interviews for the strongest candidates; the committee submitted a shortlist of three to CONASSIF for final decision. CONASSIF highlighted that it opted for an open process despite being able to make a discretionary appointment.
Superintendencia General de Seguros de Costa Rica 2025-05-20
Costa Rica's National Council for Supervision of the Financial System appoints Hermes Alvarado Salas as Superintendent of Pensions
Costa Rica's National Council for Supervision of the Financial System (CONASSIF) has appointed Hermes Alvarado Salas as superintendent of the Superintendence of Pensions (SUPEN) for a five-year term starting 26 May 2025. The appointment followed an open public selection process, with candidates evaluated on statutory requirements, academic and professional credentials, and experience in the pensions sector.