New CIMA deputy managing director
Anna McLean, a former banking supervisor with 23 years of financial services experience, has been named deputy managing director in the Supervision division of the monetary authority.
Mrs. McLean joined the Banking Supervision Department of the Cayman Islands government as an analyst in 1990. In 2000, she became head of banking at CIMA. Her training in banking supervision and regulation included a one-year secondment to the Bank of England. She also participated in courses at the Bank for International Settlements, the Board of Governors of the U.S. Federal Reserve system, and various other central banks in the region, in addition to regularly representing the Cayman Islands at international supervisory forums.
After heading the Banking Supervision division for five years, Mrs. McLean left CIMA to take up the post of chief compliance officer at CIBC FirstCaribbean International Bank.
CIMA Managing Director Cindy Scotland said Mrs. McLean’s qualifications and experience make her a perfect fit for the role. As deputy managing director of supervision, she will have oversight of the Authority’s regulatory divisions, banking supervision, insurance, investments, and securities and fiduciary services. The appointment is effective Oct. 1.
Anderson receives anti-money laundering credential
Gregg V. Anderson of VisionQuest Management Services Ltd. was recently awarded the widely recognized Certified Anti-Money Laundering Specialist (CAMS) credential by the Association of Certified Anti-Money Laundering Specialists, described as the leading organization of professionals in the field.
The CAMS designation is awarded to professionals who successfully complete a rigorous examination demonstrating their aptitude and expertise in anti-money laundering detection and enforcement. The examination covers money laundering and terrorist financing methods, the best practices to stop these and other financial crimes, as well as key related legislation in place worldwide, global AML standards and developing defenses for financial institutions to stop terrorist financing and money laundering.
“Earning the CAMS credential places the successful candidate in an elite group of AML professionals and assures employers in the private and public sectors that they are working with someone with the essential knowledge and background in this crucial and challenging field,” said John Byrne, executive vice president of the Association of Certified Anti-Money Laundering Specialists.
A.M. Best upgrades ratings of Island Heritage
Island Heritage Insurance Company Ltd. has had its financial strength rating upgraded to A (Excellent) from A- (Excellent) and the issuer credit rating to “a” from “a-”. The outlook for both ratings has been revised from positive to stable by A.M. Best Company.
A.M. Best is a global credit rating organization dedicated to serving the financial and healthcare service industries, including insurance companies, banks, hospitals and healthcare system providers.
Island Heritage CEO Marc Shirra said, “The A.M. Best A (Excellent) rating upgrade is a coveted financial strength and credit standard, recognized worldwide, that few Caribbean insurance companies can boast.
“Furthermore, as a Cayman domiciled Class A insurance company, Island Heritage is the only company currently at this level. This rating recognizes the continued and improved strengths of Island Heritage’s capitalization and reinsurance protection against severe and frequent catastrophic events.
“On behalf of our management team, I would like to thank our valued customers, esteemed business partners, supportive shareholders, directors and our dedicated staff for making Island Heritage your Caribbean insurer,” Mr. Shirra said in a press release.
Deloitte summer interns ‘pay it forward’
Summer interns in the Deloitte Exclusive Experience Program and their mentors selected two nonprofit organizations to support and then volunteered their services in June as part of Intern Impact Day.
The two organizations chosen were the Cayman Islands Cancer Society and the Cayman Islands Humane Society. Everyone spent the morning at the Cancer Society, painting the exterior walls and doors of the new chemotherapy unit. The volunteers then went to the Humane Society where they walked and washed dogs and socialized with the many cats housed there.
Intern Impact Day was established to emulate Deloitte’s global Impact Day, which is a year-round celebration of Deloitte’s commitment to community investment. Member firms globally put their passion, determination and skills to use for one work day to make a difference in the communities they serve.
Jen Skinner, senior manager, Human Resources, noted that “Deloitte takes great pride in their community involvement, and we wanted to ensure that the … interns are exposed to not only work ethics, but also Deloitte’s shared values during their work experience. It was wonderful to see these young Caymanians giving back to their community so wholeheartedly.”
Intern Kerry Lopez-Antunez, 20, said, “We do not always see our work’s results at the end of the day in the office, but when we give back to the community, we can always see it. We can walk across a building and say we painted that or we can build relationships with our community and say we helped them. This is the beauty of giving back – making an impact in the community that lasts. That’s why it’s called Impact Day.”
Deloitte in Cayman will hold its Impact Day on Oct. 10. Not-for profit organizations that need volunteer assistance are encouraged to contact the Deloitte office on 949-7500 and a team of volunteers can be arranged.