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News : New Providence Last Updated: May 13, 2019 - 11:46:56 AM

Bahamas Hosts Inaugural C-Suite Forum
By Bailey Irelan
May 13, 2019 - 11:29:51 AM

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Photo from left to right: Igal Wizman, EY Transaction Advisory Services Leader – Bahamas, Turks & Caicos; Tiffany Norris-Pilcher, EY Partner & Financial Services Emerging Managers Platform Regional Leader; Dan Scott, EY Regional Managing Partner; The Hon. Kevin Peter Turnquest, Deputy Prime Minister and Minister of Finance; Steve Beattie, EY Partner & Global Financial Crime Operations and Advisory Leader; Michele Thompson, EY Bahamas Country Managing Partner and Regional Assurance Leader; LaNishka Farrington-McSweeney, EY Partner & Regional Financial Crime and Anti-money Laundering Solutions Leader

Nassau, Bahamas - On May 2, 2019, EY Bahamas hosted its inaugural EY Bahamas C-suite Forum - NextWave of Financial Crime Compliance: Challenges and Strategies for Success. The c-suite level event, which took place at the Grand Hyatt Baha Mar in Nassau, brought together top executives to discuss the most pressing challenges of financial crime compliance, as well as the current state of innovation, emerging solutions and what the next generation of compliance strategies looks like.

Steve Beattie, EY’s Global Financial Crime Operations and Advisory Leader, offered insights on best practices bringing to bear his experience in regulatory expectations around the world. Tiffany Norris-Pilcher, EY Partner and Regional Emerging Manager Platform Leader, and LaNishka Farrington-McSweeney, EY Partner and Regional AML Solutions Leader, moderated the conversation.
“The inaugural event was a huge success because it centered on a topic which is top of mind for c-suite executives,” commented Michele Thompson, Country Managing Partner and Regional Assurance Leader. “Complex sanction regimes, cross-border payments and virtual currencies are creating ample opportunities for financial crime to proliferate, and executives are turning to innovation and technology to help curb crime and keep in line with regulations. The Bahamas is fostering innovation and digital transformation in a well-regulated and world-class business environment, and is dedicated to fighting financial crime.”

Executives had the opportunity to hear about and participate in dialogue surrounding successful financial crime innovation strategies and the challenges financial institutions face in regulating crime.

“When we speak about financial crime compliance, we know that competing demands – including cost pressures while trying to meet the bottom line – are forcing leaders to address compliance challenges in new and innovative ways. This surge of innovation includes both operational strategies and technology approaches,” said Tiffany Norris-Pilcher, EY Partner and Regional Emerging Manager Platform Leader. “Our event helped executives understand and also take advantage of the opportunities that emerging solutions bring.”

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