FIONA MULDOON, ONE of the directors at the Central Bank of Ireland, has resigned her position, the bank announced today.

Moldoon, who is Director of Credit Institutions and Insurance Supervision will remain at the bank until 1 May next year.

Today Muldoon said she had joined the bank at a time of “great challenge for the financial services industry and for the country”.

“It has been a privilege to work with so many others on the pressing economic and regulatory issues of the day,” she continued. “I hope I have made a meaningful contribution towards resolving some of those challenges and to the bank during my time here.”

Commenting on the announcement today, Central Bank Governor Patrick Honohan said the director brought “great leadership strengths and practical knowledge of the financial services into the role”.

She has been instrumental in many of the initiatives undertaken by the bank to address the role of the regulator, the mortgage and SME arrears issues and the stabilisation of the banking sector. She has made a significant contribution to the development and implementation of our prudential regulatory strategy in the banking, insurance and Credit Union sectors.

Honohan thanked her for her service and said he wishes her well in the future.

There has been no immediate comment on who will replace Muldoon in her role in the bank. She is the second Central Bank director to resign this year, with Director of Enforcement, Peter Oakes, stepping down in January.

Read: Director of Enforcement to step down from Central Bank>