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Sunday Nov. 9th |
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10 - 4 PM |
Exhibitor Setup - Regency VI and V
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4 - 6 PM
5 - 6 PM |
Early Registration - Regency VI and V
Speed Networking:
Speed Networking programs are showing up all around the
world. These events are a fun, exciting and an effective way
to make a lot of initial connections in a very different way
from the standard business networking meetings. At ordinary
networking events the most people you can realistically hope
to meet in an evening is between 6–8. At this Speed
networking session you will meet and talk to up to 25 people
(subject to registrations).
It’s fast, it’s energetic, and amazingly effective!
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Monday Nov. 10th |
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7:30 - 8:30 |
Continental Breakfast and Early Registration
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8:30 - 8:45 |
Opening Remarks by Carolyn Hanson, Conference Chair
and Mr.
Carl Hiralal, Inspector of Financial Institutions, Central
Bank of Trinidad and Tobago
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8:45 - 9:30 |
Compliance Risk in the Evolution of Investment Products
& Services:
Who
regulates credit default swaps (CDS)? Not the SEC, not the
Treasury Department and not the Federal Reserve. The CDS
market has enjoyed significant growth since 2000. The
market at that time was estimated at $631 billion. Today
the market is estimated to be $58 trillion and it still
remains virtually unregulated and has had a global effect on
the world economy.
For
example, in the U.S., we have seen the CDS contracts can
have a considerable impact on the financial markets overall
and have already taken their toll on long-standing firms
such as AIG. It is estimated that AIG's exposure to the CDS
contracts is in excess of $500 billion, which exceeds the
firms ability to pay purchasers and is what ultimately led
to the U.S. Government bailout.
Compliance Risk must be taken seriously and those
responsible must ensure the proper attention is given to the
matters. One way to do that is proper planning. Compliance
professionals must understand the ramifications of not
taking the proper actions, and how they may make a
difference.
Michael Mackewich - Navigant
Consulting, Inc.
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9:35 - 10:15 |
The Cost of Counterfeiting:
Learn more
about the Caribbean links between Organised Crime, Terrorist
Funding / Financing and the profit made from the
counterfeiting of high value and luxury products.
Robert Duncan - Brand Enforcement
Group, British American Tobacco Association
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10:15 - 10:35 |
Coffee Break
Sponsored by - Butterfield Bank
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Breakout
Sessions
10:35 - 11:30
&
11:35 - 12:30 |
#1 - Compliance Risk Associated with Insurance Products &
Services: Learn
more about the product approval process and what is required
from your regulator. Consider the compliance issues inherent
in various insurance products and changing regulatory
requirements for the insurance industry throughout the
Caribbean. Knowledge is power so come to this session and
learn more!
Roxanne Forde - ALGICO
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#2 - Technical Tools - Effective Use of Everyday Tools:
With limited resources, Compliance Officers often rely on
their own ingenuity and knowledge of basic software to
efficiently analyse
information and effectively monitor. How to make IT work for
you.
To make the most of this session -
bring your laptop!
Bentley Beckles -
Advantage Caribbean Institute
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#3 - Designated Corporate Secretary:
Every company needs a rudder.
Who is your “go to” guy? Who is responsible for governance
of the Company? For keeping the directors on track? For
communicating and confirming implementation of board and
management decisions? For policy legal, compliance and
strategic development? Who is your company’s conscience?
These roles can’t be left to committees. The Corporate
Secretary is the “adult in charge”. In some countries they
are creatures of statute. In the others they have simply
been found to be indispensable. The value of a designated
officer to perform the role of Corporate Secretary is
inestimable.
Hélčne Anne Lewis
- SimonetteLewis
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12:30 - 1:30 |
Lunch
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1:30 - 2:15 |
High Risk Individuals: High
risk customers, particularly those from Central and South
America have long posed challenges for large U.S. financial
institutions. With revelations over the past several years
that individuals from Central and South America are moving
large sums of money through U.S. banks, compliance officers
are facing added pressure to detect suspicious activity
thorough due diligence and monitoring.
Cases brought by the U.S. Department of Justice against
Riggs, American Express and Union Bank of California have
heightened concern among banks that the implications to
financial institutions can be severe if high risk customers
are not identified and managed. What is it U.S. institutions
are doing to manage these risks and what are the
implications for non-U.S. financial institutions?
David Caruso -
Dominion
Advisory Group
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2:20 - 3:00 |
Overview of Recent Financial Services Legislation in the
Caribbean -
Keep in touch and current
with the main regulatory challenges and initiatives around
the region. Although this panel will not be able to discuss
all jurisdictions in the time allotted, attendees will have
the opportunity to learn about regulatory events and
initiatives in some selected sites.
Compliance Association
Representatives from Anguilla, Bahamas, Barbados, Bermuda, British
Virgin Islands, Cayman Islands
and Trinidad &Tobago
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3:00 - 3:20 |
Coffee Break Sponsored by - World
Compliance
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3:20 - 4:00 |
Balancing IT Risk
Management and Compliance - New Challenges for IT Security
Managers:
A new dialogue is forming
between IT Security managers and Compliance officers. How
to ensure that IT infrastructure and processes provide
sufficient controls to both protect the organization and
meet its compliance mandates. Come and hear how
organizations are addressing these issues and using new
tools to optimize investment in IT controls.
Pierre Gourdon -
IBM
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4:05 - 4:50 |
Are Your Records Meeting External Compliance Requirements?
In today’s electronic world
and more stringent regulatory compliance, the need for
records management is increasing. This session will look at
how managing both paper and electronic records through an
effective records and information management program will
ensure that your organization can meet both external and
internal compliance requirements.
Christine Arden - The
Information Management Specialists
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5:00 - 6:30 |
Cocktail Reception - Regency Terrace Sponsored by -
CLICO
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Tuesday Nov. 11th |
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7:30 - 8:45 |
Continental Breakfast
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8:45 - 9:00 |
Opening and One Minute of Silence for Remembrance Day
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9:00 - 9:45 |
Benefits of Adopting Central Compliance:
Compliance - whose
responsibility is it and what are the costs associated to a
failed approach?
Garry Clement - IPSA
International
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9:45 - 10:10 |
Coffee Break
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Breakout
Sessions
10:10 - 11:00
&
11:05 - 11:55 |
#1 -
The Cost and Benefits of
Compliance? Compliance
and Legal are often regarded as the “No Business
Departments.” For the business, they are often considered
only cost centers, not profit centers. Change that stigma!
A rigorous cost-benefit analysis within your risk assessment
framework will help identify and quantify the risks, costs,
and benefits that help your business reach better,
quantifiable business decisions.
Ian Whan Tong - Cayman National
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#2 - Undertaking Annual Reviews - Internal Audits:
Fraud reviews, risk
management, management of internal controls, continuous
improvement, communication, where do you begin? Are you
following best practices? How do you know if you have met with
guidelines and standards? Find out the how, when, where and
what of internal annual reviews
Cheryl-Ann Mapp -
Compliance and Anti-Money Laundering Solutions Ltd
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#3 -
Pitfalls for Financial Institutions:
How financial institutions
can get caught up in a client’s problems; and sometimes end
up directly liable to a third party. This presentation will give an
overview of issues to be aware of when transacting client
business. Dan Wise -
Martin Kenney & Co
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12:00 - 1:00 |
LUNCH |
Breakout
Sessions
1:00 - 1:50
&
1:55 - 2:45
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#1 - Challenges of Managing Compliance Part Time:
In smaller service providers it is not always possible or
feasible for every required function to be fulfilled
independently by separate dedicated individuals. Such
service providers have to make some form of compromise
whereby “more than one hat” is worn by one or more
individuals within the organization. In this session we will
look at the challenges and solutions of managing compliance,
part time, as it relates to job allocation, internal
resourcing, time management, cross function coordination and
the regulatory equation.
Carolyn Hanson - CCC
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#2 - Assessing Client Relationship Risk:
This interactive session is
designed to assist participants in exploring the depths of
client relationship risk. Together with the facilitator,
participants will begin to create a risk assessment model
which
can be completed when they return back to their office.
Angela Mele -
Bodden Compliance Services Ltd
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#3 - Emerging Threats for the Caribbean Jurisdictions:
With global economies
in a tail spin over the demise of Lehman Bros. and Merrill
Lynch, the focus on regulation continues to bear down on the
financial arena. What else is coming down the pipes for the
offshore financial centres? As if hurricanes weren’t enough,
what other “storms” must the Caribbean endure to be seen as
financially viable, compliant and safe haven for investors?
Robert Mathavious -
BVI Financial
Services Commission
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2:45 - 3 :00 |
Coffee Break
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3:00 - 3:45 |
Islamic Banking - Islamic
Finance as an alternative mode of financial intermediation
presents a unique challenge to regulators and compliance
officers. There is on one part compliance with relevant
conventional financial standards, and on another part
compliance with Islamic Shariah (law), a dichotomy that
makes regulation of its activities more complex. Compliance
personnel need to understand this dynamic in order to
effectively monitor Islamic financial institutions given its
meteoric rise and visibility in global financial industry.
Dr. Waffie Mohammed
- CLICO Investment Bank Ltd.
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3:50 - 4:30 |
Keynote Address
Richard Berkhout
The Financial Action Task Force
Come and hear direct from
the FATF about:
- The FATF’s revised
mandate – issued in February 2007 for the period 2008-2012 come and hear what this means and plans for future
recommendations/ developments
- The FATF’s position
on Building Capacity in Low Capacity Countries - a topic
dear to the heart of many Caribbean islands where
resources are relatively scarce
- The FATF's
involvement with the Private Sector - how the FATF is
building a framework for consultations with the private
sector and how the Caribbean region could benefit
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4:30 - 4:50 |
Closing Remarks
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