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Following a tenders process held by the Bank of Israel, Ms. Limor Grobglas has been chosen for the position of Head of the Clearinghouse Division in the Payment and Settlement Systems Department.

 

Ms. Grobglas has 25 years of professional experience.  She began working at the Bank of Israel 17 years ago, and during that time she has served in a number of positions.  Among those, she participated in the establishment of the ZAHAV (RTGS) system and both established and led the are of acceptance examinations for the system.  Since 2017, Limor has managed the Banking Technology Unit in the Banking Supervision Department, which she established.  As part of her work in that Unit, she has led technological reforms and changes in the banking system, some of which have a direct effect on consumers, and has also led the establishment and entrenchment of enforcement processes in the area of technological risk management.  In her previous positions at the Bank of Israel, Limor managed the Operations Unit in the Information Technology Department, as part of which she managed an interdepartmental strategic project.  Limor is an accountant by profession, and holds a Bachelor’s degree in Accounting and Economics from the Hebrew University of Jerusalem and a Master’s degree in Law (accounting track with thesis) from Bar-Ilan University, the latter of which she completed cum laude.

 

The Bank of Israel’s Payment and Settlement Systems Department plays an essential role in designing the payments array in the financial system and in implementing changes that take place in the field of payments.  The Clearinghouse Unit manages the systems while maintaining their stability and ensuring their proper functioning, alongside the advancement of innovation, which enables connection and participation by new participants, among other things.

 

In this important role, Ms. Grobglas will lead the management of two critical systems that are operated by the bank of Israel—the ZAHAV (real-time gross settlement) system, and the Paper-Based (Checks) Clearinghouse.  These systems form a strong basis for the operation of significant parts of the business sector, from both business and technical standpoints.

 

Payment and Settlement Systems Department Head Oded Salomy said, “The Bank of Israel continues to lead in a changing payments environment.  Alongside maintaining the strong stability of the payment systems, particularly those operated by the Bank of Israel, we are opening the market to new participants.  Led by Limor Groblas, the Clearinghouse Division will continue to lead market changes by enabling new participants, including nonbank participants, to join and act in the core systems of the Bank of Israel and of the economy.  The new participants are expected to provide new value offers and improve financial services for the Israeli public.  Limor’s knowledge and experience in interfacing fields will add tremendous value to the Department’s work.  I would like to thank Ronit Chitayate, who is leaving the position following many years of work in the field.”

Credit: Bank of Israel spokesperson