The Caribbean Association of Banks (CAB) this week announced Michael Walcott as its latest addition to the board of directors.

Walcott, who is a risk management and business process development professional, has significant industry expertise in compliance, corporate operation process improvement, operational risk, and auditing. He presently holds the portfolio of general manager for overseas operations with Republic Financial Holdings Ltd. (RFHL).

A member of Republic Bank’s managerial team for more than a decade, he served in several capacities including acting general manager for group enterprise risk; senior manager for corporate operations process improvement/ operational risk; and manager with responsibility for corporate activities and internal audit. Prior to which, he also served as compliance manager [with regional oversight], internal auditor and business risk analyst in various organisations throughout Trinidad and Tobago.

CAB chairperson, Dalton Lee, in welcoming Walcott to the board, commended his willingness to take up the challenge of the new role.

“It is a tremendous pleasure to be able to receive Michael, whom I am certain will play a significant role in advancing our organisational goals and objectives. We are delighted at his willingness to take up the challenge of working with us to serve our members across the region and beyond. Sean’s presence will, of course, be greatly missed, and we will continue to cherish his memory and hold him dear to our hearts,” he said.

Walcott’s appointment comes several weeks after the sudden passing of former director Sean Husain. Husain, a Guyanese, served in managerial positions in Barbados and Guyana, before taking the reins at Republic Bank in Suriname.

The CAB is a conglomerate comprising a community of banks and other financial institutions in the Caribbean region, which proactively influences issues impacting the financial services sector through advocacy, education and networking. The entity represents over 50 banks and financial institutions in the region having an asset base in excess of US$41 billion as at December of last year.