Jorge Melendez

Experience

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  Secretary of Labor and Social Prevision (Federal), The World Bank and the Economic Commission for La

  Jan 1990 - Jan 1992

  Independent consultant
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  The University of Chicago

  Jan 1990 - Jan 1990

  Lecturer in the College

  Courses: Labor Economics (1990) and Public Finance (2001).

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  Government of the State of Nuevo Leon

  Jan 1991 - Jan 1992

  Consultant at the Coordinating Bureau of Consultants

  Preparation of documents and statistics of the economy of the state of Nuevo Leon.

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  Universidad Autónoma de Nuevo León

  Jan 1992 - Jan 1998

  • Dean of the School of Economics

    Jan 1995 - Jan 1998

  • Director of the Center of Economic Research

    Jan 1992 - Jan 1995
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  “El Norte” newspaper of Monterrey, Mexico, of the “Reforma” group

  Jan 1998 - Jan 2001

  Columnist

  Weekly column in the editorial section, appeared on Fridays.

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  UANL

  Jan 1999 - Jan 2002

  Courses: International Finance, Microeconomics, Macroeconomics, Economic Development, Economic Problems of Mexico. Wrote and presented a research paper in the Applications of Economics Workshop of the Department of Economics at The University of Chicago. This paper was the origin of my doctoral dissertation, which I defended in June 2001, in a Public Lecture.

  • Professor at School of Economics (Facultad de Economia, FAECO)

    Jan 1991 - Jan 2002

  • Academic leave to conclude doctoral thesis in Economics

    Jan 1999 - Jan 2001
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  ITAM

  Jan 2001 - Feb 2021

  Part-Time Professor (by Course)

  Courses: Industrial Organization, in the BA in Economics (2018-2021); Economic Environment for Businesses and Microeconomics, in the MBA (2001-2003); and Labor Economics in the Master´s program in Public Policies (2015).

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  Inter-American Conference of Social Security (CISS)

  Jan 2001 - Jan 2003

  Secretary General

  Executive officer of an international organization with more than 70 affiliated institutions from all of the continent, from Canada and the United States to Chile.

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  Instituto Mexicano del Seguro Social

  Dec 2003 - Dec 2006

  Chief Financial Officer, CFO (Director de Planeacion y Finanzas)

  To plan and administer the financial resources; to manage the budget, accounts payable and the cash flow; to coordinate and supervise accounting and taxes; to plan future revenues and investments in fixed assets; to identify the actuarial balances of the insurance branches and the institutional risks, in order to control them; to optimize the the advantage out of IMSS assets. Reported to the CEO, had 7 direct reports, led a team of 600 collaborators. Annual operating budget of 20,000 md. + Led, as the user, the implementation of the financial blocks of the ERP (Peoplesoft/Oracle) in all of IMSS units: more than 2,200 simultaneous on-line users in each of the blocks, budget, general ledger, accounts payable, treasury, fixed assets and investments. Implemented a balanced scorecard for each national office of the Institute. Show less

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  Afore XXI

  Feb 2007 - Jun 2010

  Chief Financial Officer, CFO (Director de Administracion y Finanzas)

  Before the merger of Afore XXI, Afore Banorte Generali and Afore Bancomer. The foreign shareholder was Prudential International Investments, so maintained continuous coordination and reporting with its Finance office in Newark. In addition to the functions referred to at XXI Banorte also coordinated and supervised the legal department, corporate, contractual and litigation matters. Reported to the CEO, had the report of 4 managers and led a team of 40 collaborators. Annual operating revenues of 120 md and expenditures of 65 md.+ Equilibrated operating expenditure, to reach at the time efficiency levels that were 9% below the industry average, which represented lower costs by 10 md per year. Show less

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  Instituto Mexicano del Seguro Social

  Jun 2010 - Feb 2013

  Chief Investment Officer, CIO (Titular de la Unidad de Inversiones Financieras)

  To invest more than 13,000 md of actuarial, financial and contingency reserves of the insurance branches, the working capital of the Institute, as well as the private pension plan of IMSS employees. In fixed and variable income assets of different classes and terms: government, banking, corporate and equity, all publicly traded securities. To report to the CFO, to have the report of 3 assistant directors: Front, Middle-Back and Strategic Allocation, to lead a team of 15 collaborators. To decide an IMSS vote in the governing bodies of Afore XXI Banorte: Investment Committee, Executive Committee and the Administration Board. + Started, and conducted on behalf of one of the shareholders, the merger of Afore XXI and Afore Banorte Generali. For that, invested 200 md of IMSS reserves in the acquisition of 50% of Afore Banorte Generali equity.+ Led the investment of 800 md for the acquisition of 50% of Afore Bancomer by IMSS, to merge it with Afore XXI Banorte. The operation was awarded as Best domestic M&A Deal of 2013 by Latin Finance. Show less

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  Afore XXI Banorte

  Feb 2013 - Mar 2018

  Chief Financial Officer, CFO (Director de Administracion y Finanzas)

  To plan and optimize the financial resources; to manage the budget, accounts payable and the treasury; to coordinate and supervise accounting and taxes, as well as the middle and back offices of the pension funds and their settlements; to attract, retain, develop and motivate human capital; to administer the compensations and benefits of personnel; to design and control the incentive compensation schemes of the work force; to achieve the best conditions in procurement; to maintain an optimal level of general services and material resources. To report to the CEO, to receive the report of four assistant directors, to lead a team of 170 collaborators. Annual operating revenues of 520 md, costs of 270 md, average cash position of 75 md during the year.+ Improved 24% the efficiency of non-commercial expenditure (expenditure/operating revenue). At the closing of 2017 such efficiency was 26% better than the average of the three largest competitors, which implied lower costs amounting to 45 md a year. Show less

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  Bureau de Politica Publica

  Jun 2018 - Feb 2020

  Associate

  To organize, coordinate and achieve the closing of public private partnership projects (PPP), and the refinancing or re-structuring of public state and municipality debt. To appraise the social and financial profitability of infrastructure investment projects under PPP schemes.

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  Ministry of Finance

  Feb 2020 - Aug 2021

  To formulate policies to promote, regulate and supervise institutions and activities of the financial system.To provide the interpretation, for administrative purposes, of the laws regulating the afore-mentioned entities and activities.To evaluate the commercial banks.To propose the authorization or public concesion and the revocation to constitute, organize, operate and function as a service provider in the financial sector.To authorize the investments and capital withdrawals of the different entities of the financial system, as well as their mergers and splits.To participate in the negotitations regarding international treaties and agreements involving financial services.Among other functions.- Participated casting a vote in the Inter-Institutional Committee for the authorization of 45 Institutions of Financial Technology (Fintechs).- Participated in the definition of the best execution duty of brokerage houses in dealings with stocks.- Led the process of issuing anti-money laundering and terrorism financing (AML/FT) regulations for the remote on-boarding of popular savings and loans institutions, brokerage houses, investment funds, cooperative loan and savings institutions, multiple purpose financial societies.- Proposed the reduction of reserve building in credits for women, as well as the decrease of risk weights in capital requirements for credit institutions for specific groups, specially small business enterprises. Both measures were approved by the National Banking and Securities Commission.-Led the issuing of reforms to regulations regarding AML/FT in popular savings and credit institutions and cooperative savings and loans societies to raise from 1,000 to 3,000 UDIS the account security level for the purpose of simplified identification. Show less

  • Head of the Banking, Securities and Savings Unit

    Aug 2020 - Aug 2021

  • Head of the Policy Coordination Unit of the Under-Ministry of Finance

    Feb 2020 - Aug 2020
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  Afore XXI Banorte

  Oct 2021 - now

  Head of the Planning and Evaluation Unit / Chief Economist

  To coordinate strategic planning works; to analyze and evaluate the performance of the client and financial investment circuits, as well as other administrative circuits; to develop projections that allow for the estimation of the future financial situation of the firm; to identify possible impacts of regulatory and public policy changes on the industry and the firm; to find business opportunities that arise from the competitor's strategies; to perform data analytics to support business projects in the client and financial investment circuits; to coordinate performance contracts of the different areas of the firm; to promote the public image and corporate relations of the afore. Show less