The Bank of Jamaica (BOJ) which on Wednesday June 19 announced the departure of deputy Governor Gayon Hosin, has now disclosed that her deputy, Maureen Simms, will step into the role of supervisor of the Financial Institutions Supervisory Division, but only on a one year contact and in an assisting role to the Governor of the Bank.

It also announced the renewal of the contract of senior deputy governor John Robinson for two years and the appointment of Dr Wayne Robinson in the post of Deputy Governor with responsibility for oversight of the Research and Economic Programming Division and the Financial Stability Department.

Wayne Robinson is being promoted from the position of Division Chief. His contract is for five years. That for John Robinson is two years.

Simms was previously Deputy Division Chief and Division Chief of the Financial Institutions Supervisory Division at the central bank.

The BOJ said she has been appointed to the position of Deputy Governor, for a period of one year, “to assist the Governor in discharging his responsibilities as the Supervisor of Banks to include overseeing the functions of the Financial Institutions Supervisory Division of the BOJ.”

She replaces Gayon Hosin, the previous Deputy Governor, Financial Institutions Supervisory Division, and Deputy Supervisor of Banks, who will be leaving the Bank on 19 August 2016.

Hosin, was employed on a fixed-term contract of employment, which expired on 31 March 2016. The BOJ said the decision was taken to not renew her contract of employment, as a consequence of a conflict of interest involving the role her husband Eric as the Chief Executive Officer of Guardian Life Limited (GLL) which is a subsidiary of GHL the islands largest banking group.

GLL was acquired by the NCB Group within the last year and is subject to the supervisory responsibilities normally assigned Hosin as Deputy Governor Financial Institutions Supervisory Division and Deputy Supervisor of Banks.

The BOJ in its release on the appointments described Simms as a career central banker who was employed to the central bank since March 1982.

Simms served the BOJ 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 (CFATF), of which Jamaica is a member. She was also the Financial Examiner for the Mutual Evaluation of the Cayman Islands and Anguilla.

The banker 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 central bank outlined, stating also that she has been a key contributor to the body of work which culminated in the passage of the Banking Services Act in June 2014.

John Robinson was re-appointed to the position of Senior Deputy Governor for a period of two years with effect from 1 May 2016.

The senior banker is a career economist, who studied at Concordia University in Montreal and Columbia University in New York,. He will continue to function as chief technical and economic advisor to the Governor, and in the absence of the Governor will be responsible for the day-to-day operations of the Bank, the BOJ said.

“Mr 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,” it was outlined.

Wayne Robinson has been appointed to the position of Deputy Governor in which capacity he will oversee the Research and Economic Programming Division and the Financial Stability Department.

The BOJ said he is being promoted from the position of Division Chief, in which he held responsibility for the technical leadership of the research and economic policy development portfolio.

The central bank described him as a career central banker, noting, “Dr Robinson has been recognised both internally and externally for his sound policy advice and in-depth knowledge of economics.”

The central banker earned his PhD in Economics from the School of Economic Studies, University of Manchester, in 2002. His areas of expertise are econometric modelling and forecasting, and monetary and financial economics, and he has published in a number of international peer- reviewed journals, including IMF Staff Papers and the Journal of International Money and Finance, the BOJ noted.