BMA restructures senior management team
21 May 2013 Hamilton
Image: Shutterstock
The Bermuda Monetary Authority (BMA) has realigned its senior management team to increase Bermuda’s appeal to new market entrants in the field of fund management and administration.
Marcia Woolridge, director, will manage the banking, trust corporate services and investment division. She will add supervision of businesses licensed under Bermuda’s new corporate services providers regime to her responsibilities.
Woolridge’s new responsibilities are in addition to her supervision of the banking trust, investment fund, fund administrators and investment businesses sectors.
Shelby Weldon will expand his role as director to include the licensing and authorisations functions for all non-insurance entities. In addition to captive and commercial insurers, he will be responsible for licensing and authorisations for banks, investment businesses, investment funds, trust companies and corporate service providers.
Current director Shanna Lespere will assume responsibility for areas of the BMA’s operations function, including finance and currency operations, human resources, research, facilities, programme management and enterprise risk management.
Finally Shauna MacKenzie’s role as director will now encompass responsibility for the authority’s regulatory policy function. She will also be responsible for legal services, and development and application of the BMA’s enforcement framework.
Jeremy Cox, CEO of the BMA, said, “The restructuring and re-assigned responsibilities within the senior management team support the BMA’s work to implement Bermuda’s supervisory regimes even more effectively.”
“We are successfully working towards achieving our focused vision for efficient, forward looking risk-based supervision as the market continues to evolve. Just as important, the changes also support sharing of our in-house technical skills across the market sectors we supervise, fostering a multidisciplined, coordinated supervisory approach.”
Marcia Woolridge, director, will manage the banking, trust corporate services and investment division. She will add supervision of businesses licensed under Bermuda’s new corporate services providers regime to her responsibilities.
Woolridge’s new responsibilities are in addition to her supervision of the banking trust, investment fund, fund administrators and investment businesses sectors.
Shelby Weldon will expand his role as director to include the licensing and authorisations functions for all non-insurance entities. In addition to captive and commercial insurers, he will be responsible for licensing and authorisations for banks, investment businesses, investment funds, trust companies and corporate service providers.
Current director Shanna Lespere will assume responsibility for areas of the BMA’s operations function, including finance and currency operations, human resources, research, facilities, programme management and enterprise risk management.
Finally Shauna MacKenzie’s role as director will now encompass responsibility for the authority’s regulatory policy function. She will also be responsible for legal services, and development and application of the BMA’s enforcement framework.
Jeremy Cox, CEO of the BMA, said, “The restructuring and re-assigned responsibilities within the senior management team support the BMA’s work to implement Bermuda’s supervisory regimes even more effectively.”
“We are successfully working towards achieving our focused vision for efficient, forward looking risk-based supervision as the market continues to evolve. Just as important, the changes also support sharing of our in-house technical skills across the market sectors we supervise, fostering a multidisciplined, coordinated supervisory approach.”
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