Sat | Jul 21, 2018

BOJ makes changes to management team

Published:Sunday | July 24, 2016 | 12:00 AM

The Bank of Jamaica (BOJ) said last Friday that it has made two appointments to its management team and renewed the contract of one person.

Dr Wayne Robinson, who has been appointed deputy governor on a five-year contract, will oversee the Research and Economic Programming Division and the Financial Stability Department, the central bank said in a release last Friday.

He is being promoted from division chief, where he held responsibility for the technical leadership of the research and economic policy development portfolio.

The BOJ said Robinson is a career central banker with more than 27 years of experience, including various training and professional appointments to positions ranging from economist to division chief.

He has served on the boards of the Statistical Institute of Jamaica and the National Investment Bank of Jamaica and his areas of expertise are econometric modelling and forecasting and monetary and financial economics.

Maurene Simms has been appointed to the position of deputy governor for one year to assist the governor in discharging his responsibilities as the supervisor of banks, including overseeing the functions of the Financial Institutions Supervisory Division of the BOJ.

The position of deputy governor for the Supervisory Division was previously held by Gayon Hosin, who demitted office last week. The BOJ has chosen not to renew her contract after 21 years, saying the recent acquisition of a stake in Guardian Holdings Limited by the National Commercial Bank creates a conflict of interest in the execution of her duties.

Simms is also a career central banker, having been employed by the BOJ since March 1982. She has served the bank in several senior positions, including deputy division chief and division chief of the Financial Institutions Supervisory Division.

She is a mutual evaluation financial examiner for the Caribbean Financial Action Task Force, of which Jamaica is a member. She was the financial examiner for the Mutual Evaluation of the Cayman Islands and Anguilla.

Simms holds a BSc in Management Studies and has participated in several local, regional, and international technical training programmes covering the full range of bank supervisory issues.

The BOJ said she was a key contributor to the body of work that culminated in the passage of the Banking Services Act in June 2014.

John Robinson has been reappointed senior deputy governor for two years, effective May 1, 2016.

The BOJ said Robinson, a career economist, who studied at Concordia University in Montreal, Canada, and Columbia University, New York, will continue to function as chief technical and economic adviser to Governor Brian Wynter, and in the absence of the Governor, will be responsible for the day-to-day operations of the bank.

Robinson will continue to hold direct portfolio responsibly for strategic oversight of the Research and Economic Programming Division and Financial Stability Department as well as the Banking and Market Operations Division.