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Governance

 

Accountability and impartiality are both crucial to the success of the FSC. To achieve these objectives, the Financial Services Commission Act establishes a Board of Commissioners. The Board of Commissioners is the governing body of the FSC and is among other things, responsible for:

Establishing policy for the FSC and monitoring and overseeing its implementation Monitoring and overseeing the management of the FSC with the objective of ensuring that the resources of the FSC are utilised economically and efficiently.

The Board of Commissioners is comprised of the Managing Director as an ex officio member and not less than four or more than six other members. Persons eligible for appointment to the Board of Commissioners must be fit and proper and possess relevant knowledge, experience and expertise in financial services matters to aid the FSC in the performance of its functions.

Robin Gaul
Chairman
Mr. Robin F. Gaul, FCCA, was born in Norwich, England. He was admitted as an Associate of the Chartered Association of Certified Accountants in 1967 and a Fellow in 1976. Before retiring from private practice, he worked as an accountant and financial advisor, and was a partner in the BVI office of KPMG. He has served on various boards and committees in the BVI Public Sector, including the Development Bank of the Virgin Islands and the BVI Electricity Corporation. He was appointed as Deputy Chairman of the Inaugural Board of the Financial Services Commission in 2002 and Chairman of the Board in May, 2006.
Jonathan Fiechter
Deputy Chairman
Mr. Jonathan Fiechter, is a former bank supervisor who among other activities, now serves as a consultant to overseas governments and agencies including the International Monetary Fund and the World Bank. He has extensive expertise in the area of regulation, financial supervision, economic research and risk analysis having previously held the posts of Deputy Director, Monetary and Capital Markets at the IMF and Senior Deputy Comptroller for International and Economic Affairs at the US Office of the Comptroller of the Currency.
Robert Mathavious
Managing Director/CEO
Mr. Robert Mathavious, was appointed the first Managing Director and Chief Executive Officer of the Financial Services Commission in 2002. Prior to the establishment of the Commission, he enjoyed an illustrious 25 year tenure in public service with the Government of the Virgin Islands . As the Managing Director and Chief Executive Officer, he is responsible for the administration and operation of the Financial Services Commission. His responsibilities include: the regulation of the BVI’s financial industry; the development of new service and product offerings aimed at developing, and enhancing the attractiveness of the BVI as a situs for legitimate cross border financial services; and liaising with Government and private sector stakeholders in pursuance of this objective.
Denise Reovan
Member
Ms. Denise Reovan, resident of Virgin Gorda, is an attorney whose legal career spanned the private and public sectors and as sole practitioner in her own law firm in the neighbouring US Virgin Islands. Over the years she served as Counsel to the Chief Labour Negotiator, Chief Legal Counsel to the Legislature of the Virgin Islands and Counsel to the Board of Directors of the Government Employees Retirement System.
Ian Smith
Member
Mr. Ian Smith, has enjoyed a long career in both public and private sectors and was most recently Senior Vice President at Banco Popular. Prior to his career in banking, he served as an Economist with the Government of the Virgin Islands. He currently operates a financial, economic and management consulting company and is the Chief Operating Officer of a family owned group of companies.
Andrew D. Bickerton
Member
Andrew D. Bickerton, is an accountant by profession and has over 40 years of experience in the field. He is a Fellow of the Association of Chartered Certified Accountants, a designation he has held since January 1980; and a licensed BVI Insolvency Practitioner since October 2004. He has served in senior audit roles with accounting firms in the UK, Zambia and the Caribbean. He is a member of various legislation subcommittees for financial services in the BVI and has been a member of various local associations and service clubs in which he has held diverse leadership roles. Currently, he is President of the BVI Football Association.
Carl S. Hiralal
Member
Carl S. Hiralal, CPA, CGA has over 34 years experience in regulation and financial supervision having held senior leadership roles with major regulatory organizations in Canada and the Caribbean. He currently consults on risk-based supervision systems, and over the years has participated as a financial sector expert while on assignments with the IMF, World Bank and International Association of Insurance Supervisors. He is an accredited CPA with the Chartered Professional Accountants of Canada, and a volunteer in its Financial Literacy Program.
Carlene A. Romney
Member
Carlene A. Romney, is a partner with Deloitte Ltd. – British Virgin Islands and has extensive experience serving clients in a range of industries, but specifically financial services. Carlene provides audit and advisory services to local and international clients, and her experience covers various onshore and offshore structures, as well as providing assistance for accounting and regulatory issues. During her career with Deloitte, she has also served a number of trust companies and statutory bodies in the British Virgin Islands. Carlene is a Fellow with the Association of Chartered Certified Accountants and a former Treasurer of the BVI Investment Funds Association.