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Central Bank Appoints New Inspector of Bank and Trust Companies

Published: Monday January 31st, 2022

Central Bank Appoints New Inspector of Bank and Trust Companies

The Central Bank is pleased to announce that Ms. Karen Rolle has been appointed, in a transitional role, as the Acting Inspector of Banks and Trust Companies with effect from 1 January, 2022.

Ms. Rolle will succeed Mr. Charles Littrell, who has served as the sitting Inspector of Bank and Trust Companies (“Inspector”) since 2017. Mr. Littrell’s term comes to an end in July 2022. In the interim, he will facilitate a smooth transition in an advisory capacity. The post of Inspector is a very senior role within the Central Bank charged with the responsibility for ensuring the proper supervisory oversight for supervised financial institutions as well as providing leadership in engaging with external stakeholders. Ms. Rolle’s appointment marks a very significant milestone for the Central Bank as she will be the first Bahamian to hold this position since its creation in 2000.

Ms. Rolle joined the Central Bank’s Bank Supervision Department in 1994, and has previously served in positions including Deputy Manager for Authorisations and Policy, as well as Manager of the Bank Supervision Department. From June 2018, she was appointed Deputy Inspector of Banks and Trust Companies.

Ms. Rolle possesses extensive experience in financial supervision with a career at the Central Bank spanning some 27 years. She currently serves on several strategic committees within the Central Bank, including the Monetary Policy Committee and the Policy Advisory Committee. Ms. Rolle is also a member of the Board of Directors for the Deposit Insurance Corporation. In addition to her career at the Central Bank, she is the current Chair of the Caribbean Group of Financial Supervisors and has also represented the Central Bank in many domestic and international fora. Over the years, Ms. Rolle has led or assisted with many of the strategic workstreams of the Bank, including Anti-money Laundering, Basel II implementation, Risk-based Supervision, Online Reporting, the Credit Bureau rollout and Crises Management.

Ms. Rolle holds a Bachelor of Science Degree in Accounting from Florida Memorial College and an MBA from Nova Southeastern University. She has completed several executive-level studies with the Harvard Kennedy School and was recently awarded an Executive Certificate in Public Policy. She is also a certified Anti-Money Laundering Specialist through ACAMS.

According to Central Bank Governor John Rolle, “We look forward to Karen’s success in the Inspector’s chair, as our financial supervision team engages with industry on a great many issues. These include the need to remain financially sound in the face of Covid and other challenges, and the need to maintain high standards for financial crime suppression”.

31 January, 2022