Caribbean Times 31st Issue - Tuesday 8th November 2016

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2 c a r i b b e a n t i m e s . a g Tuesday 8th November 2016 CARTAC, FSRC host workshop on stress testing By Joanna Paris The Financial Regulatory Services Commission (FSRC) and the Caribbean Regional Technical Assistance Centre (CARTAC) are hosting a three day workshop at the FSRC’s Headquarters providing training to the participants on stress testing in insurance companies. The November 7th to Editor’s Note Caribbean Times is printed and published at Woods Estate/Friars Hill Road. The Editor is Justin Peters. Contact: Caribbean Times, P.O. Box W2099, Woods Estate/Friars Hill Road, St. John’s, Antigua. Tel: (268) 562-8688, Fax: (268) 562-8685. Visit us online at our website: www. caribbeantimes.ag We ask you to send: Pertinent news items to news@caribbeantimes.ag. Advertisement inquiries to accounts@caribbeantimes.ag. Letters to the editor to editor@caribbeantimes.ag 9th workshop is being facilitated by Rodolfo Wehrhahn, a senior consultant who also works with the International Monetary Fund (IMF). Stress testing is a simulation technique often used in the banking industry. It is also used on asset and liability portfolios to determine their reactions to different financial situations. Stress tests are used to gauge how certain stressors will affect a company, industry or specific portfolio. Acting CEO of the FSRC, Paul Ashe, explained that the commission is happy to be benefiting from the important training, which will assist By Joanna Paris Women in Antigua & Barbuda will join women around the world in the worldwide celebration of Women’s Entrepreneurship Day (WED) on November 19th. Local businesswoman, Sandra Baptist, is the United Nation’s World Ambassador for Women’s Entrepreneurship Day Antigua and Barbuda for the 2nd consecutive year. Baptist will be hosting a special cocktail and networking reception at the TradeWinds Hotel on November 16th, which will celebrate women in business. The function will also serve to honour the growth-oriented women business owners and entrepreneurial women in Antigua and Barbuda who have successfully completed the Women Innovators Network in greatly in increasing the capacity of the body. “We are very happy that we have been able to partner with CARTAC in terms of how we move from workshop to implementation and the fact that CARTAC uses the experiences of Antigua and Barbuda as a best practice to motivate countries in the Caribbean. “Upon the completion of this workshop, we will also roll out the stress testing of the insurance sector to join Barbados and Belize who have already started stress testing in this regard”, Ashe indicated. He added that the commission will be taking another step to create a world class regulatory platform. Deputy Chairman of the Board of Directors for the FSRC, Robin Shaw, also explained the importance of stress testing in the sector. “Stress testing has emerged as a commonly used instrument in the sector of financial supervision and regulation. “In particular, the testing is a key component in the sector’s assessment and is also used in crisis management. Regulators are expected to monitor vulnerabilities inside he insurance sector”. During the workshop, participants will be exposed to theoretical and practical components. Antigua and Barbuda to join WED celebrations the Caribbean (WINC) Acceleration Program. According to Baptist, the program, a World Bank/InfoDev Acceleration Program (AP), of which she is the country’s certified facilitator, is designed for women to give them the tools and knowledge required to grow their businesses. “Women connecting at the reception will have access to a global network of resources to help them to build successful businesses,” Baptist said. She added that hosting the WED reception is part of her continued mission to support women entrepreneurs. As the Country’s Ambassador, Baptist’s goal will be to raise awareness on WED – its aims, activities and results.
Tuesday 8th November 2016 c a r i b b e a n t i m e s . a g 3 Inland Revenue Department bids farewell to another retired public servant A bitter-sweet occasion marked the climax of 40 years of dedicated service to the Public Sector of Antigua and Barbuda. Friday (November 4 th ) officers at one of the country’s main revenue collecting agencies, the Inland Revenue Department (IRD), came together to wish one of their colleagues, Sylvanie Martin god speed as she leaves the public service after 40 years. Martin entered the public service as a Clerical Officer where she worked for three years. She later joined the team at the Inland Revenue Department, working her way up the ranks, her last appointment was a Taxpayer Service Officer. A number of colleagues expressed sadness to see Mrs. Martin leave since over the years they have come to appreciate her for the wealth of knowledge, respectability and her kind and caring nature. Mrs. Martin was encouraged to make full use of her retirement since there is no limit to what she can achieve in life. Upon receiving a few tokens of appreciation Mrs. Martin expressed profound gratitude to her colleagues for the time she shared with them and says she will mostly miss the love and friendships she had developed over the years. She however added that she will not be too far away in fact, she will only be a phone call away.
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Caribbean Times 31st Issue - Tuesday 8th November 2016

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