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

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#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.

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Bahamas News

RBC appoints new Country Manager and Area Vice President for Turks & Caicos 

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RBC Royal Bank (Bahamas) Limited (“RBC”) is pleased to announce the recent appointment of Kerryl-Lyn King-Henry as Country Manager and Area Vice President (“AVP”), Personal and Commercial Banking, Turks & Caicos Islands (TCI).

In her new role as Country Manager and AVP, King-Henry will take on full responsibility for the bank’s operations, strategy, and development in the TCI market, with a strong focus on solidifying partnerships with the Government, regulatory bodies, and the local community.

King-Henry brings to the role a dynamism influenced by nearly 25 years of industry experience. Prior to her new appointment, she served as AVP of Business Banking in Trinidad and Tobago. She has held progressively senior roles within both personal and commercial banking, as well as various functional units.

King-Henry holds a Master of Business Administration (MBA) degree, with a specialization in Leadership, FinTech and Big Data Analysis, in addition to a Bachelor’s Degree in Business Administration. Further enriching her professional profile, Kerryl-Lyn is a certified John C. Maxwell Coach, Trainer, Teacher, and Speaker. Her passion for leadership and development is matched by her commitment to community service, as she actively volunteers her time and leverages her professional expertise to mentor and support others. “

Kerryl-Lyn’s extensive experience and proven leadership capabilities make her the perfect choice to lead our operations in the Turks & Caicos Islands,” said Ericka Rolle, RBC’s Managing Director and Vice President, Personal Banking, The Bahamas and TCI.

“Her commitment to excellence, combined with a genuine passion for community engagement, aligns perfectly with our Bank’s purpose of helping clients thrive and communities prosper. We are excited to see the positive impact she will undoubtedly bring to her new role,” she added.

 

 

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Government

MINISTRY OF HEALTH AND HUMAN SERVICES DELEGATION VISITS WEST MIDLANDS AMBULANCE SERVICE IN BIRMINGHAM, UK

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Providenciales, Tuesday 30 April, 2024 – A delegation from the Ministry of Health and Human Services, recently undertook a pivotal visit to the West Midlands Ambulance Service in Birmingham, United Kingdom. The visit, which took place from April 21st to April 23rd, 2024, was held under the esteemed patronage of the Ambassador of Health of the British Overseas Territories, Professor Ian Cumming.

Led by Permanent Secretary Mrs. Desiree Lewis OBE, the delegation included Ms. Renessa Williams, Deputy Permanent Secretary of the Ministry of Health and Human Services, and Mr. Andy Brijmohansingh, Director of Emergency Medical Services. This strategic meeting was an integral part of the Ministry’s ongoing efforts to enhance emergency services within the Turks and Caicos Islands.

During the visit, representatives from the West Midlands Ambulance Service provided comprehensive insights into their operations, sharing valuable expertise and offering collaborative initiatives for the development of the TCIs emergency services. Discussions encompassed various aspects, including training and mentoring programs tailored to empower emergency personnel within the Turks and Caicos Islands.

“The visit marked a significant step forward in our strategy for the advancement of emergency services,” stated Mrs. Desiree Lewis OBE. “We are deeply grateful for the generosity and support extended by the West Midlands Ambulance Service, and we look forward to implementing the insights gained to further enhance emergency care within our country. Permanent Secretary Lewis also expressed the Ministry of Health’s gratitude to Professor Ian Cumming for his assistance by way of arranging the visit.”

Mr. Andy Brijmohansingh, Director of Emergency Medical Services for the Turks and Caicos Islands, underscored the importance of the discussions, emphasizing the poignant exchange of ideas and the potential for meaningful collaborations which signifies a commitment to improving emergency services and ensuring the safety and well-being of the residents of the Turks & Caicos Islands.

The Ministry of Health and Human Services expresses its sincere appreciation to the West Midlands Ambulance Service for their warm hospitality and invaluable contributions during the visit.

For additional information, please visit the Turks and Caicos Islands Ministry of Health and Human Services Facebook page at https://www.facebook.com/tciministryofhealth/.

 

 

 

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TCI Court

Eight Months facing Police Accusations and Court, now Pedro Grant Exonerated

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Dana Malcolm 

Staff Writer 

With no evidence to support their claim, the prosecution has dropped their case against Pedro Jose Alfredo Grant Gallon, the Dominican Republic citizen who was accused of impersonating an officer in September 2023.

The Police, who publicized the arrest and charge, have not yet commented on the matter despite Magnetic Media queries.

Grant, for his part, has always vehemently denied the accusations that he was impersonating an officer and described the circumstances surrounding his arrest as unfair.

He contends that on the evening of July 13, 2023, he was being followed by a strange driver, concerned, he waited until the man pulled off at a bar, then took his license plate number and called the police, but police never came to help Grant. He alleges that the next time he saw them, they came with handcuffs to arrest him. In a search, police found his IDs which included his documentation for humanitarian work with the International Diplomatic Alliance (IDA) and police lights attached to his vehicle. In explaining the possession of those lights, Grant said he told officers that they had been in his car from his time in the Dominican Republic where he was involved in law enforcement.

Since that time, Grant has maintained several facts:

  • The Police did not have a warrant to search his home and car;
  • The Police took his documents including passports and IDs, one of which was issued by the IDA, and to date have not returned them despite being court-ordered to do so;
  • The Police intimidated his wife with threats of deportation;
  • He never showed any ID, flashing lights at the man following him, or claimed to be an officer.

Police have steadfastly refused to comment on the case despite numerous queries into the bizarre circumstances, even with serious allegations like intimidation against them. Grant was officially charged with Impersonating an Officer in September but IDA Head Jerrod Crockett told Magnetic Media despite seizing documents from Grant to support their case, no one even called the organization to see if they were real or fake.

Now, when called to provide evidence to the court as to why they arrested and charged the resident, the police and DPPs office drew a complete blank as Wilkie Arthur, Magnetic Media Court Correspondent, confirmed it was a lack of evidence that got the case dropped.

Despite this win serious damage has been done Grant claims, describing his life as a ‘living hell’ and ‘miserable’ since the accusations were publicized.

The IDA says it has been affected as well.

“That really put a hurt on us for the last six to eight months now because of accusations of fraudulent documents that everybody else has seen. We’re trying to prove our legitimacy now because you guys can’t verify any documents— before you put everything out there as public information,” Crockett said of the Royal Turks and Caicos Islands Police Force (RTCIPF)

The president also told our news team they had lost thousands of dollars in funding.

Following the closure of the case we reached out again to police to find out on what grounds Grant had been arrested and charged but no response was issued.

 

 

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