BMA makes changes

FRIDAY, APR. 27: The Bermuda Monetary Authority announced structural changes for its policy and insurance supervision areas, and a new appointment for its international relations functions.

Mary Frances Monroe, director, Policy, Research and Risk department has her team’s role expanded to also include a unit conducting new dedicated macroprudential surveillance of the market, in addition to existing functions for modelling, banking analytics, stress testing and financial sector analysis.

Craig Swan will lead the Insurance Supervision department.

Shanna Lespere has been appointed director of International Affairs.

This appointment will provide a dedicated function for the Authority’s advocacy and international relations work, which by necessity is growing in scope.

Shelby Weldon, director, Licensing and Authorisations department and his team will continue supervising Bermuda’s captive insurers, and maintaining close interaction with, and oversight of, the insurance managers supporting the industry.

The team also conducts the vetting and licensing process for all financial entities conducting business in or from Bermuda.