ECCB 2018-2019 Annual Report and Statement of Accounts

The programme was desig ed for middle-to-senior level supervisors engaged in the supervisory oversight of information technology and related operational risks

Promote the Development of the Financial Sector to Increase Citizen Access to Credit and Other Financial Services During the year, efforts were intensified to operationalise the Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) by the first quarter of the 2019/20 financial year. The Board of Directors was established and Carmen Gomez-Triggs was appointed as the Chief Executive Officer. Current efforts are focused on the recruitment of three other initial staff members (Chief Financial Officer, Senior Operations Officer and Administrative Assistant). The Bank continues to work with the ECPCGC’s Board of Directors and The World Bank on the final steps for operationalisation of the Corporation by the end of June 2019.

Regional Technology Risk Supervision Workshop E CCB Bank Examiners along with officers from regulatory and supervisory agencies and the private sector who are responsible for the supervisory oversight of information technology and related operational risks, participated in the Regional Technology Risk Supervision Workshop at the ECCB Headquarters from 3 - 7 December 2018. The workshop was designed to help regulators/supervisors better understand: (i) the origin and drivers of various information technology (IT) risks as well as the identification and assessment of these risks, (ii) industry practices on IT governance to manage the IT risks and challenges, and (iii) prudential regulatory and supervisory practices that are aligned with international standards. Real-life case studies on information security, cybercrime and cyber security, IT outsourcing, business continuity management practices etc., were used to provide the participants with a practical approach to enhancing supervisory capacity in the area of technology risk supervision. The ECCB and the Toronto Centre funded the workshop. The facilitators were: Programme Leaders: Abhilash Bhachech and Narindar Bhavnani and Programme Director: Shelina Visram of the Toronto Centre. Two key areas covered were: Gender Equality/Financial Inclusion and Climate Change. With respect to the session on gender equality and financial inclusion, participants were of the view that, in recent years, advances have been made in the region on achieving gender equality. Work has been done to promote equitable access for and build capacity of women in information and communication technology (ICT) sector through education and training. Recommendations for the way forward: ƒ ƒ To foster peer learning, open and candid discussion among regional regulators and supervisors and to allow sufficient time for group exercises, presentations and plenary discussions for future programmes; and ƒ ƒ To promote ongoing collaboration and engagement with the private sector, the ECCB can host separate outreach events. The 65 participants were from: Anguilla, Antigua and Barbuda, Barbados, the Commonwealth of Dominica, Grenada, Montserrat, St Kitts and Nevis, Saint Lucia, St Vincent and the Grenadines, Trinidad and Tobago and the ECCB.

Participants of the workshop share their views on the key takeaways and how the information gained will be applied in their respective contexts. Click to view.

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