Thursday – 28th September, 2023
SESSION 1 - TOPIC
Developing Specialized Skills for the Financial Services Sector
The global financial services industry is extremely competitive. Highly specialized skills are required. Financial services professionals must be knowledgeable about financial markets, banking regulations, risk management, and more. They must also be able to develop strategies to optimize investments and minimize risk.
Themes to be covered:
How do we develop the skills needed to remain competitive?
Importance of international exposure
Developing service driven teams focused on meeting client needs
Strategies for recruiting and retaining superior talent
Immigration as an enabler to skill development
Knowledge Management Systems and Succession Planning
Andrew is Managing Director of Scales and Associates, a leading recruitment and staffing management partner, supporting the growth and development of financial services organisations in The Bahamas and the Caribbean region.
His career has taken him to diverse and dynamic markets worldwide, including Canada, Andorra, Singapore, Hong Kong, Mauritius, the United States, Brazil, Monaco, Switzerland, Algeria, Cayman, and The Bahamas.
His experiences in diverse international markets have honed his ability to navigate complex regulatory environments and multicultural workforces. He has successfully bridged geographical and cultural gaps to bring talent and institutions together, resulting in mutual success.
Patrice G. Taylor is an HR consultant, and transformational leadership coach, corporate trainer, and speaker. Patrice has tapped into her global assignment, which is to speak life to purpose, activate hidden potential; and cultivate the principles of servant leadership.
She is the CEO of Hephzibah (HEF-Z-BA) HR Training and Development, with the mission of “Providing human capital solutions to develop leaders and transform organizations.” Her growing list of local and international clients includes public and private sector companies and non-profits from across a myriad of industries.
As a former Vice President of Human Resources in the Private Banking Sector, Patrice leverages 30+ years of combined professional and Human Resource management experience and competencies with charisma and an authentic love for people to help company leaders and their teams navigate their leadership journey, improve communication, increase engagement and retention; and, reduce turnover.
Patrice holds a Master of Education degree from Kent State University, a BSc degree in Business Administration from the University of Mary Washington, and the international HR designations of Senior Certified Professional (SHRM-SCP) and International Senior Professional in HR (SPHRi). She is a certified and licensed Maxwell Leadership coach, trainer, and speaker.
SESSION 2 - TOPIC
Crafting a National Development Plan For The Bahamas
The National Development Plan: Vision2040, seeks to provide a roadmap for the future development of The Bahamas. The Plan will include a comprehensive policy framework that will guide Government decision making and investment over the next 25 years. Vision2040 is an initiative of the Government of The Bahamas, developed in partnership with the Inter-American Development Bank and in close cooperation with the College of The Bahamas and The Bahamas Chamber of Commerce and Employers Confederation. The Plan will be guided by extensive research, analysis and widespread public consultation aimed at addressing four main policy pillars: The Economy, Governance, Social Policy and Environment (Natural and Built).
Mr. Felix N. Stubbs, MBE, D.H.L., is a citizen of the Commonwealth of The Bahamas with Turks and Caicos ancestry. Felix is a former President and General Manager of IBM Bahamas Ltd, a position he held for over 32 years, opting to take early retirement in 2014 so that he could devote more time to his Rotary obligations.
Committed to the Bahamas’ wholesome development, Felix sits on several governmental, non- governmental, civic, and charitable Boards. He helps to shape and implement strategic, policy, budgetary, and fundraising plans. He served as Chairman of Junior Achievement for nineteen years. Currently, Felix is a member of the Boards of CIBC First Caribbean International Bank Bahamas Ltd and the Canadian Imperial Bank and Trust (Bahamas) Ltd. He also serves as Chairman of Doctors Hospital, BAF Financial, and New Providence Ecology Park.
Nicola Virgill-Rolle Rolle is an experienced executive with a strong background in public policy, financial services, national development, strategic planning and social policy. She is the Executive Director of the Lyford Cay Foundations – The Bahamas’ leading education philanthropic organization. She is also credited with leading the creation of the National Development Plan for The Bahamas, as well as efforts on the United Nations Sustainable Development Goals and creating the framework for the Government’s Over-the-Hill Revitalization project.
Dr. Rolle began her career at the Central Bank of The Bahamas, eventually becoming Deputy Manager (Policy) in the Bank Supervision Department. She has held positions at the Bahamas Embassy in Washington, D.C. and served as Director of Financial Services and Director of Economic Development and Planning. She has served as Director of the National Insurance Board.
Dr. Rolle holds an Associate of Arts Degree in Accounting from the College of the Bahamas (now UB), a Bachelor of Arts Degree in Economics from Vassar College in Poughkeepsie, New York; a Master of Science Degree from the University of London (SOAS), London, England, and a Doctor of Philosophy Degree in Public Policy from George Mason University, School of Public Policy, Arlington, Virginia.
Gowon N.G. Bowe is the Group Chief Executive Officer for Fidelity Bank & Trust International Limited, including its publicly traded subsidiary Fidelity Bank (Bahamas) Limited. He is a former partner and advisory leader for a Big Four (4) accounting firm, and has been responsible for some of the largest audit and consulting engagements for private and public sector entities. He has been the recipient of several academic awards and serves in numerous leadership capacities with numerous civic organisations in The Bahamas and the Caribbean. Gowon is a regular presenter/facilitator at seminars and training sessions, as well as speaker at business/accounting related discussion forums and media programmes.
SESSION 3 - TOPIC
Corporate Income Tax and The Bahamas Tax Structure
On May 18th, 2023, The Ministry of Finance today announced the release of the Green Paper on “Corporate Income Tax Strategies for The Bahamas” . This session will examine:
- International and Domestic considerations
- Policy Options for CIT in The Bahamas
- An assessment of the Options
- What type of tax system aligns best with our financial services sector?
Olivia has over 20 years of experience in tax practice in the UK, Canada and Bermuda. Olivia is a Chartered Accountant in England and Wales and a CA, CPA in British Columbia, Canada.
She is a senior manager and with over 15 years transfer pricing experience, leads EY’s transfer pricing practice in The Bahamas, Bermuda, BVI and Cayman Islands region. In addition to serving transfer pricing clients, Olivia assists clients in addressing international tax and BEPS issues with a focus on economic substance. Olivia has extensive experience in the field of due diligence and vendor due diligence reviews.
Olivia has assisted clients in a wide variety of industries including retail and consumer products, pharmaceuticals, energy, finance and insurance, Olivia has held tax positions in industry in the pharmaceuticals and retail sectors.
Dwayne Whylly is a Partner and chair of the Financial Services Group of Glinton Sweeting O’Brien. Dwayne has established himself as a leading financial services attorney in The Bahamas, with a focus on tax advisory, tax reporting and other tax advisory matters.
Dwayne is a jurisdiction expert in FATCA and CRS and a member of the BFSB’s Tax Working Group. Dwayne’s practice also extends to a broad range of corporate and financing transactions, including private M&A, corporate restructurings, joint ventures, private equity investments and secured and unsecured corporate asset and project financing; as well as regulatory matters including banking and securities regulation, digital assets, currencies and exchanges and foreign direct investment. His clients include multinational entities, offshore banks, investment funds and managers, asset managers, digital asset business and private clients.
Dwayne has a Bachelor of Arts degree from Yale University and obtained his Bachelor of Law with Honours from Oxford University. Dwayne completed his legal training at a Magic Circle firm in their London and Moscow offices.
SESSION 4 - TOPIC
Environmental, Social and Governance (ESG)
Proponents for regulatory climate risk stress testing argue that changes to the climate pose a significant challenge to the financial system – and therefore fall under the purview of the Fed and other central banks. They contend that the effects of physical risks (such as hurricanes and droughts) impact bank balance sheets. Moreover, they argue that steps taken to transition to a lower-carbon economy – including carbon taxes or government-imposed limits on emissions – could induce inflation and harm labor markets.
This session will look at:
- Climate Change Driven Financial Risk
- Climate Risk Stress Testing vs. Traditional Stress Testing
- The role of Supervisory Agencies
- Designing Effective ESG Policies and Procedures
Begoña has more than 20 years of experience having worked in the financial services consulting and banking industries in different European countries. During her time in Grupo Santander, she was the Head of Enterprise and Climate Change Risk. She led several transformational programs: RWA Optimization and Economic Capital Integration, Risk Appetite Statement & Framework Embedding and the European Central Bank Asset Quality Review. Since 2018, she led Santander’s efforts in embedding climate change risk and the BoE and ECB Climate Change Stress Testing exercises.
Climate and ESG Experience
- Developed firm-wide climate risk framework and embedded it into risk management policies and processes. She also established a process to integrate climate into strategy & business planning and assessing/developing new products.
- Acted as program lead for the Bank of England Climate Change Stress Testing (CBES). She also chaired the Climate Change Stress Testing Steering Committee and reported on progress to Executive and Board Committees. Begona was also a member of UK Finance Sustainability Committee, which reports directly to the UK Finance Board.
session 5 - TOPIC
What Next In Structuring, Fiduciary Services & Solutions
The necessity for structuring, fiduciary services, and solutions is growing but also becoming more complex. As global markets become increasingly interconnected companies and individuals must consider their planning objectives to ensure compliance, efficiency, and innovative solutions. Structuring, fiduciary services, and solutions must be tailored to meet the bespoke needs of clients.
Themes to be covered:
- Factors influencing structuring today
- Recent case law/ regulatory developments
- Innovation and the impact of technology on fiduciary services
- Importance of understanding tax planning with multijurisdictional structures
Based in Miami, Don is an International Wealth Structuring specialist with more than 20 years of experience in the industry. He holds the position of Director and Group Lead for Scotiabank’s Global Family Office & International Wealth Structuring Group based in Miami. His specialty includes advising family business enterprise Groups looking for succession and legacy planning. Under Don’s leadership the Scotia Miami IWS group was the winning recipient of the 2020 Best International Wealth Structuring group in South Florida by US Business News.Don has been with Scotiabank since 2001.
Don graduated from the University of Miami, in Coral Gables, Florida where he earned an MBA in International Business & Finance. He received his undergraduate degrees in International Business and Spanish Language & Culture from LorasCollege in Dubuque, Iowa and Universidad de Valencia Institute of Spanish Studies, Valencia, Spain. Don completed postgraduate studies in Estate Planning from the New York State Bar Association and in Leadership from Columbia University Graduate School of Business in New York.
Don is a Member of the Society of Trust and Estate Practitioners (STEP) and has attained the STEP Advanced Certificate with distinction in Family Business Advising. Don speaks English, Spanish, and Italian fluently.
Luncheon with Speaker - Policy Action For a Sustainable Financial Services Sector
SESSION 6 - TOPIC
AI and Financial Services – Threat and Opportunity?
The rise of artificial intelligence (AI) has significant implications for banking and financial services. While AI presents an opportunity as a potential enabler for easier access to financial services, more tailored services and improved consumer engagement it also poses a threat, with the potential to disrupt and give rise to data privacy, cyber security and compliance risks. How can financial institutions leverage AI whilst mitigating the risks?
Wayne D’Ornellas is the Head – Consulting Strategy at Alliance One Management Consulting.
Wayne was born to Guyanese parents who migrated to Canada in search of a better life.
He has spent 20 + years within the Information Technology and Business strategy space across a variety of industries. As a leader within the Technology industry, Wayne is instrumental in bilateral relations with global allies forging influential alliances to deliver emerging technologies to support the progression of Alliance One client’s business.
Wayne commenced his career straight out of university at a large Canadian telecommunications company in the early 2000’s. As an early adopter of the Agile project management methodology, he helped establish and build out the B2B business model within the telecommunications world before he transitioned to the financial sector.
Leveraging his experience in telecom yielded excellent results and made way for Wayne to collaborate and lead some of the largest international programs: Mobile Payments & International Remittance.
Wayne’s expertise within the telecommunications and financial services industries leveraging emerging technologies such as AI, robotic process automation, process analysis, process reengineering, root cause analysis and performance management allowed him to become a strategic business leader.
Wayne has transitioned still leveraging his industry best practices to the US Healthcare industry and further expands his acumen.
Wayne’s unique career path and experience allows him to provide a wealth of knowledge and best practices from the various industries, while having a clear understanding of the regulatory space. He has managed large teams and was responsible for all 3rd party consulting & contracting. His ability to understand and drive corporate consulting strategy has been invaluable in his work with Alliance One.
SESSION 7 - TOPIC
The Future of Regulation in The Financial Services Sector
Ms. Christina R. Rolle is Executive Director of the Securities Commission of The Bahamas, having been appointed since 26 January 2015.
Ms. Rolle holds an MBA from Kellogg School of Management, Northwestern University, and is an alumna of Harvard Business School.
She has more than 25 years of experience in the financial services industry including various senior managerial positions.
During her tenure at the Securities Commission, Ms. Rolle has directly overseen the development and enactment of key pieces of legislation like the Investment Funds Act, 2019; the Financial and Corporate Service Providers Act, 2020; the Carbon Trading Act, 2022 which provides for secondary market trading of carbon offset credits and the Digital Assets and Registered Exchanges Act, 2020 (DARE).
Ms. Rolle is currently serving a second term as Vice Chair of the Inter-American Regional Committee (IARC) of the International Organization of Securities Commissions (IOSCO), having been re-elected in July 2022.
Mr. Rolle was appointed Governor of the Central Bank of The Bahamas in January 2016. His substantive career from 1990 to 2012 was also in central banking, in various economic policy and research capacities, including a period of secondment as a Senior Advisor on the Executive Board of the International Monetary Fund (IMF).
From 2012 2015, he served as Financial Secretary in The Bahamas Ministry of Finance, where he spearheaded the introduction of value added tax.