FRA Gets New Chief
Her Excellency the Governor, Ms Helen Kilpatrick, CB, is pleased to announce the appointment of Mr. Robert James Berry as the Director of the Financial Reporting Authority (FRA).
Mr. Berry has a long and distinguished career in financial services regulation at a senior managerial level and extensive experience in anti-money laundering and countering the financing of terrorism. Mr. Berry's years of experience in financial services regulation have allowed him to work closely with the FRA in the past and to develop an excellent working relationship with its staff.
In announcing Mr. Berry's appointment, Her Excellency said: "We are delighted to have Mr. Berry on board. 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. Mr. Berry's vast expertise in compliance and anti-money laundering will be invaluable."
Welcoming Mr. Berry to the FRA, Solicitor General Jacqueline Wilson said: "We are pleased and excited to have someone of Mr. Berry's calibre join our management team. He has a proven track record of excellent performance and is well placed to take on the mantle of leadership of the FRA. We certainly look forward to the continued success of the FRA under his stewardship."
Speaking about his appointment, Mr. Berry commented: "It is a tremendous privilege to be appointed as the Director of the Financial Reporting Authority and I look forward to working with the great team already in place to continue to develop the FRA into one of the world's most outstanding FIUs (financial investigation units)."
Mr. Robert Berry's qualifications and experience cover a wide range of financial services operations and management including regulatory compliance, investment management, risk assessment and management, operational and strategic planning, know-your-customer and due diligence.
His educational qualifications include a business administration degree from York University, Canada as well as a Canadian Securities Certificate. Additionally, he is a Certified Anti-Money Laundering Specialist and a member of the Association of Certified Anti-Money Laundering Specialists.
His professional experience includes:
As Head of Compliance for the last 12 years at the Cayman Islands Monetary Authority (CIMA), Mr. Berry managed and directed CIMA's enforcement actions, oversaw the due diligence process, managed non-routine requests for assistance from overseas regulatory authorities, among other duties. Also, as CIMA's Money Laundering Reporting Officer, he worked closely with the FRA. He was involved in reviews of the jurisdiction by international standard setters including the International Monetary Fund (IMF) and the Caribbean Financial Action Task Force (CFATF);
In management, private banking and investment in the Cayman Islands private sector for nine years at Bank Ventobel, Cayman; Barclays Private Bank and Trust (Cayman) Limited and CIBC Bank and Trust Company (Cayman) Limited.