DUBLIN, July 11 Reuters Ireland39;s central bank needs to improve the transparency and fairness of its vetting regime for key financial services industry roles, a review conducted by a former top supervisor at the European Central Bank found on Thursday.

Ireland is a major centre for the fund management industry, a regional hub for a number of international banks and has a domestic financial sector, all of which are regulated by the central bank.

The central bank launched the review in February after an independent tribunal that hears appeals from aggrieved parties against the bank39;s decisions found its decisionmaking process in a recent case was flawed and that it had denied fair procedures at each stage of the process.

The review led by Andrea Enria, whose term as chair of the ECB39;s Single Supervisory Mechanism ended last year, found the central bank process broadly aligned with peer jurisdictions and had succeeded in raising the bar for entry into the industry.

But it said the recent independent tribunal39;s decision and confidential feedback highlighted a number of areas in which the operation of the fitness and probity process is not always up to the requisite standards of fairness and transparency.

The fitness and probity process is a central part of reforms introduced in the aftermath of Ireland39;s 200809 banking crash that assesses the suitability of applicants for any of the 21,000 key positions in Ireland39;s diverse financial sector.

The 100page…