Connect with us

TCI News

TCI: Better risk management, leads to stronger and more profitable businesses, says PwC

Published

on

#TurksandCaicos, March 16, 2018 – Providenciales – PwC argues that better risk management practices make for better business. Cost savings, more efficient allocation of resources and improved business performance are all likely to be achieved when organisations formally integrate Enterprise Risk Management (ERM) into their strategic and operational activities.

“Companies that equip their line managers (i.e. the first line of defense) and staff with the tools and techniques to identify, assess and respond to risks in a proactive manner, will have a competitive edge,” said Bruce Scott, Risk Assurance Leader for PwC in the Caribbean.  “We know that major risk exposures are rarely confined to discrete areas in an organisation, but rather, can have a domino effect across the organisation.  It is for this reason that PwC has developed a holistic approach to risk management to help protect businesses, facilitating strategic decision making and enhancing efficiency.  Our teams have extensive experience having already worked with public and private sector clients of all sizes to understand and address an extensive range of strategic and operational risks”.

Bruce was speaking on Thursday (March 8) at PwC in the Caribbean’s Risk Management seminar hosted at the Regent Village in Providenciales. The seminar is the latest in a regional series to improve the ability of businesses to manage risks at every stage. The third in the series, and the first in the Turks and Caicos Islands, entitled “Better risk management, better business performance”, not only looked at the practicalities of identifying and managing risk proactively and defensively, but also outlined the importance and roles of Three Lines of Defense in a business.

 

The three lines of defense are:

  • First line of defense (line managers) is responsible for day-to-day execution and management of risk and controls;
  • Second line of defense, includes the risk and compliance functions who a play a supporting role to the first line by providing risk management guidance, training and independent reviews of risk exposures faced by the first line; and
  • Third line of defense is internal audit, which is responsible for independently testing that the company’s risks are being mitigated. The third line may also include external auditors and regulators.

The PwC team also shared expert insights on the importance of having a sound business continuity planning process that protects against natural disasters as well as unique disasters such as a fire and the importance of a multi-skilled internal audit function that can independently test controls over critical risks faced by an organisation. Other presenters included Nick Haywood, Territory Leader, PwC, Turks and Caicos Islands, Carolyn Bell Wisdom, Risk Assurance Partner, Jamaica, and David Green, Manager, Turks and Caicos Islands.

Nick Haywood, Territory Leader, PwC, Turks and Caicos Islands said, “PwC risk management teams led by Bruce Scott, have performed extensive research on why organisations have failed to properly identify, analyse and address business risks. We’ve worked with a number of businesses regionally to provide cutting edge Enterprise Risk Management Services. Our goal is to provide businesses with the knowledge and resources to manage enterprise-wide risk and for the local business community to be aware that PwC not only provides financial statements audits, but also a range of value-added non-audit services.

Continue Reading

News

Multi-Agency Enforcement Action Conducted in Lower Bight

Published

on

Providenciales, Turks and Caicos Islands — The Informal Settlements Unit (ISU), in coordination with the Planning Department and key partner agencies, conducted a multi-agency enforcement exercise on Thursday, May 7, 2026, in the Lower Bight area in Providenciales. The exercise resulted in the complete removal of a total of eight (8) unauthorized structures and all associated debris from a privately-owned parcel of land.

The operation was led by the Planning Department, with coordination by the ISU and support from the TCI Border Force, the Crown Land Unit, and Pelican Energy.  Security for the exercise was provided by the Royal Turks and Caicos Islands Police Force. All agencies worked collaboratively to ensure the exercise was carried out in a safe, orderly, and controlled manner.

The enforcement action followed a structured and lawful process in accordance with the Physical Planning regulatory framework of the Turks and Caicos Islands. Section 45 Enforcement Notices were first issued on the affected parcel in December 2024, identifying unauthorized structures erected without the requisite approvals. This was followed by the issuance of Warning Notices on April 16, 2026, which advised occupants that they were in breach of planning and land use regulations and provided notice that demolition activities would proceed following the prescribed compliance period. Despite these notices and the time afforded for compliance, the unauthorized structures remained in place.

This exercise represents part of an ongoing commitment to ensuring that development within the Turks and Caicos Islands is lawful, safe, and aligned with national standards.

Continue Reading

News

Beaches Turks and Caicos and Sandals Foundation Champion Early Childhood Literacy with Star-Studded Reading Road Trip

Published

on

PROVIDENCIALES, Turks & Caicos Islands: The grand opening of the Treasure Beach Village at Beaches Turks and Caicos brought more than just high-energy celebrations to the shores of Providenciales as the Sandals Foundation led a star-studded Reading Road Trip at four local primary schools.

Dozens of celebrities, global media representatives, resort guests, and hospitality executives took a purposeful break from the weekend’s festivities to connect directly with the island’s youngest learners. The initiative transformed standard kindergarten classrooms at Enid Capron Primary, Thema Lightbourne Primary, Ianthe Pratt Primary and Oseta Jolly Primary into dynamic literacy hubs as visitors including American Actor and Playwright Jesse Eisebberg, and Real Housewives of New York City and author Kelly Bensimon read books and engaged in fun literacy games and activities.

The carefully designed activities aimed to strengthen students’ foundational reading comprehension skills and saw visitors actively animating characters, reading aloud, playing interactive literacy games, doing phonetic exercises and collaborative arts and crafts.

For local educators, the initiative represented a valuable opportunity to broaden students’ horizons. Through meaningful interaction with media representatives, students learned firsthand about exciting careers in writing, photography, and broadcasting.

Nelene Swann, Vice Principal of Enid Capron Primary, highlighted the profound impact of the unique global connection. “The experience for the children was good as they interacted and shared in a cultural blend while learning about new cultures and different career options,” Swann shared.

For American actor and playwright Jesse Eisenberg, who spent his afternoon volunteering at Oseta Jolly Primary School, his visit coincided with a special occasion on the school’s calendar, creating an even more memorable atmosphere for the youngsters.

“Our school was celebrating Boys Day which allowed [Eisenberg] to share in the experience and even provide great mentorship advice. Lessons such as the importance of consistency were well received by students in this developmental phase,” says Handsfield.

The Sandals Foundation has long championed early childhood education as a fundamental pillar of its philanthropic mission across the region.

Heidi Clarke, Executive Director of the Sandals Foundation, expressed her pride in the weekend’s grand opening educational outreach noting, “The Reading Road Trips provided a one-of-a-kind experience to guests and students as they shared in the power of play, imagination and life – all through the wonders of books. At the heart of our mission is to facilitate the creation of fun and dynamic learning environments that inspire students. We are proud to be a partner in TCI’s education tapestry and will continue to support initiatives that enable students’ holistic development.”

While the grand opening festivities brought a special influx of international participants to the classrooms, the commitment to local schools remains a consistent, year-round priority for the local resort staff. Employees regularly dedicate their personal time to mentor, tutor, and read with primary school students, fostering an incredibly strong bond between the hospitality sector and the local education system.

General Manager Deryk Meany emphasized the immense joy these initiatives bring to his dedicated staff. “This was a blast for the resort team members. The heart of the hospitality industry extends far beyond the resort’s doors and through the Reading Road Trip and other team member volunteer initiatives, we are proud to share our time, resources and expertise to the school community.”

Even as the official grand opening celebrations conclude, the positive impact of these classroom interactions will continue to resonate deeply throughout the Providenciales community and the world – example of a powerful model for community-integrated tourism.

Continue Reading

News

RT&CIPF, Airports Authority Pledge Stronger Aviation Security for Turks and Caicos

Published

on

Turks and Caicos, May 22, 2026 – Protecting the Turks and Caicos Islands’ airports and ports of entry through stronger coordination, intelligence sharing and joint security strategies was the central focus of a high-level meeting between the Royal Turks and Caicos Islands Police Force and the Turks and Caicos Islands Airports Authority earlier this month.

Commissioner of Police Fitz Bailey and members of the RT&CIPF Executive Team met with TCIAA officials on May 7 at Police Headquarters as both agencies reinforced their commitment to national security and public safety.

Leading the Airports Authority delegation was TCIAA Chief Executive Officer Selvyn Hawkins.

The meeting centered on aviation security across the Turks and Caicos Islands and the need for tighter collaboration as the country experiences continued growth in visitor arrivals and air traffic movement.

Officials discussed coordinated approaches to strengthening airport security, improving intelligence sharing and ensuring stronger protection for residents and visitors entering and leaving the territory.

The discussions also underscored the importance of strategic partnerships between law enforcement and aviation officials in responding to evolving security threats and safeguarding critical infrastructure.

Also attending from the TCIAA were:

  • Devon Fulford, Executive Director of Operations
  • Nikeva Ariza, Director of Corporate Affairs, Communications and Public Engagement
  • Jurren van den Oever, Security & Change Manager
  • and Andrew Thomas, Director of Safety and Emergency Response.

The meeting forms part of broader national security efforts aimed at reinforcing public confidence, strengthening border protection and ensuring the Turks and Caicos Islands maintains safe and secure gateways as tourism and development continue to expand.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

Continue Reading

FIND US ON FACEBOOK

TRENDING