The Tribune

The Bahamas Association of Compliance Officers (BACO) elected its 2020-2022 executive committee last Friday during its biennial general meeting held via Zoom conference .

"Members of BACO should expect more collaboration, increased partnership and interaction with our local and regional counterparts," explained newly-elected president, Maria Dorsett. "Additionally, my executive committee's objectives are to take full advantage of this new norm, and work on greater efficiencies within BACO. We will introduce a fully online membership application experience and renewal experience."

Valdez K Russell, principal of VKR Insights, said in his keynote address: "Effective leadership in this season of reinvention calls for us to communicate, collaborate and create opportunities that will foster positive change in the lives of those we serve.

"We must recognise our increased responsibility to lead and act with empathy. Leaders must make bold decisions, and also commit to collaboration with authenticity, transparency and respect. This is what we must do to create a better, prosperous and modern Bahamas."

The newly-elected 11-member executive committee represents a cross-section of compliance professionals from both the financial services industry and designated non-financial providers sections. They will all serve for two years.

"I would personally like to continue to work on the organisation becoming a self-regulatory organisation (SRO). This accomplishment would make us the first compliance organisation in our region to attain this status," added Ms Dorsett.

The virtual meeting, the first of its kind for BACO, attracted compliance professionals and regulators from throughout the Bahamas.