Ex CIMA compliance boss moves to FRA

| 16/08/2016 | 4 Comments
CNS Business

Robert James Berry

(CNS Business): Robert James Berry, the former head of compliance at the Cayman Islands Monetary Authority, has been appointed as the director of the Financial Reporting Authority (FRA). Berry, an anti-money laundering expert who worked in private banking before he joined CIMA, has move to the government unit responsible for investigating suspicious activity in the offshore sector ahead of the next evaluation of the Cayman Islands financial sector by the Financial Action Task Force.

The announcement of his appointment was made in a release from the office of Governor Helen Kilpatrick, who said his expertise in compliance and anti-money laundering would be invaluable for that assessment.

“He is joining us at a critical time when the Cayman Islands is preparing for the fourth round of mutual evaluations, in which the framework for anti-money laundering and countering the financing of terrorism will be assessed for technical compliance with, and effective implementation of, the 40 revised recommendations of the Financial Action Task Force,” she said.

Solicitor General Jacqueline Wilson, who is also on the FRA management team, said Berry had a “proven track record of excellent performance” and was, she believed, well placed to take on the FRA leadership.

Berry said he was looking forward to “working with the great team already in place to continue to develop the FRA into one of the world’s most outstanding financial investigation units”.

According to the release, Berry has had a distinguished career in financial services regulation and experience in anti-money laundering and countering the financing of terrorism. He has already worked closely with the FRA in the past because of his work in the financial sector dealing with regulatory compliance, investment management, risk assessment and management, operational and strategic planning, know-your-customer and due diligence.

He was CIMA’s head of compliance for twelve years, where he managed and directed the enforcement actions, oversaw the due diligence process and managed non-routine requests for assistance from overseas regulatory authorities, among other things. Berry was also CIMA’s money laundering reporting officer, which led him to work closely with the FRA and has been involved with the Financial Action Task Force reviews in the past.

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Category: Finance, Financial Services

Comments (4)

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  1. Anon says:

    This guy knows his stuff. Good choice.

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  2. Anonymous says:

    The new Civil Service is doing so much better with recruiting and promoting Caymanians

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  3. Jerry Frazier says:

    May the Lord continue to bless you, RJ.

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  4. Anonymous says:

    Well done, RJ!

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