The Tribune

By DEREK SMITH

There is no doubt that over the last nine-plus months that countries, industries and individuals have been navigating unchartered waters. It is paramount for stakeholders at government, industry and community levels to plan for various future scenarios while appreciating the current landscape.

Fact Pattern

• The Centres for Disease Control and Prevention (CDC) has throughout the COVID-19 pandemic distributed press releases, media advisories, transcripts and statements clearly stating the recommendations for managing the virus in multiple areas, one of which was travel. I wish to note these three occasions:

• November 22, 2020 - COVID-19 Travel Health Notice Levels and Testing for International Travellers

• December 24, 2020 - CDC to require negative COVID-19 test for air travellers from the UK to the US

• January 12, 2021 - CDC expands negative COVID-19 test requirement to all air passengers entering the US

• President Joe Biden has stated and reiterated throughout his presidential campaign that he would ‘rely on science experts to defeat COVID-19’.

Observations on responses

• The actions of Mr Biden should not be a surprise – period. The US president always discussed four key points – Control of the COVID-19 pandemic; providing economic relief; promoting racial equality; and climate change.

• Enhanced risk management should have been deployed at country and industry levels. I am not referring to measures to slow the spread of COVID-19, but to potential changes in supply chains whose drivers/impact points could include transportation, information and pricing.

• Representatives of government and industry should have designed ahead of the presidential elections a communications plan that took into account both outcomes - Joe Biden as the new US president or Donald Trump winning a second term. Representatives of government and industry voices are critical to general public understanding, comfort, confidence in leadership and level of anxiety.

• In reference to stay at home (self-quarantine), the CDC recommendations on November 22, 2020 versus January 12, 2020, are almost identical. Both ‘recommend that international air travellers get tested with a viral test one to three days before their flight to reduce spread during travel. Travelers should get tested three to five days after travel and stay home for seven days. This implies that strategies could have been discussed and developed ahead of the January 2020 executive orders. Therefore, the risk/potential fallout could have been mitigated.

Obstacles versus Opportunities

• It appears based on local news reports that The Bahamas is in a positive position, as opposed to a surprised or reactive position, to administer viral tests which are aligned with the recently-signed executive orders requirements. Two of our major hotels have integrated viral testing into their operational framework. International messaging can be crafted to promote our agility in times of crisis instead of appearing to be always being responsive.

• It appears that the cost for a rapid antigen test, which is a viral test that meets CDC recommendations, is included in our Bahamas Health Travel Visa. There may be no additional cost to tourists to travel to The Bahamas.

• With the current local testing capacity well over 30,000, based on news reports that Baha Mar (one of two major hotels) administered more than 15,000 COVID tests since reopening, The Bahamas is in a position to service tourists.

Risk management needs to move from being a buzz word to an action. The employers and employees of The Bahamas require prudent assessment, management and communication surrounding risks. Aligned of risk management with country strategies is essential to our navigating the current and post COVID-19 environment.

NB: Derek Smith Jr is the compliance officer and money laundering reporting Officer (MLRO) at Higgs & Johnson, and a former assistant vice-president of compliance at an international private bank. His professional career started at a ‘Big Four’ accounting firm, and he is also a certified anti-money laundering specialist (CAMS) and certified risk and compliance management professional (CRCMP).