(PRESS RELEASE) — The Caribbean Association of Banks (CAB) Inc. has announced the latest addition to its Board of Directors, Mr. Michael Walcott.
Mr. Walcott is a risk management and business process development professional with significant industry expertise in compliance, corporate operation process improvement, operational risk, and auditing. He presently holds the portfolio of general manager, overseas operations with Republic Financial Holdings Ltd. (RFHL).
In his most recent capacity, Mr. Walcott served as the project lead on the Cayman Integration Project, with responsibility for ensuring a seamless transition and implementation of governance policies and procedures during the group’s acquisition of the Cayman National Corporation (CNC) in 2019.
A member of the Republic Bank’s managerial team for more than a decade, Mr. Walcott has served as acting general manager, group enterprise risk; senior manager, corporate operations process improvement/operational risk; and manager, corporate activities, internal audit. Prior to this, he has also served as compliance manager (with regional oversight), internal auditor, and business risk analyst in various organisations throughout Trinidad and Tobago.
Mr. Walcott holds a BA in accounting from Morehouse University, Atlanta, Georgia, is certified in professional anti-money laundering under the Florida International Bankers Association (FIBA), and was awarded a certificate in compliance from Citigroup. He has completed several courses in credit risk; anti-money laundering; fraud prevention and detection; occupational health and safety; business writing; and financial statement analysis.
The addition of Mr. Walcott comes several weeks after the sudden passing of director Sean Husain on Monday, March 23, 2020.
Mr. Husain had been with Republic Bank for 26 years, having served in managerial positions in Barbados and Guyana, before taking the reins at Republic Bank (Suriname) N.V. A national of Guyana, Sean was also a member of the Board of the Surinaamse Bankiersvereniging – the Suriname Bankers Association, SBV.
CAB Chairperson, Mr. Dalton Lee, welcomed Mr. Walcott to the Board. He said: “It is a tremendous pleasure to be able to receive Michael, whom I am certain will play a significant role in advancing our organisational goals and objectives. We are delighted at his willingness to take up the challenge of working with us to serve our members across the region and beyond. Sean’s presence will, of course, be greatly missed, and we will continue to cherish his memory and hold him dear to our hearts.”
CAB is a community of banks and other financial institutions in the Caribbean region, which proactively influences issues impacting the financial services sector through advocacy, education, and networking. The CAB represents over 50 banks and financial institutions in the Caribbean, 20 service members comprising regional and international technological and professional institutions, and three honorary members.