GIS, 12 June 2017 - Former Financial Secretary, Mr. Neil Smith has been appointed Executive Director of the recently established Office of International Business (Regulations).
The appointment was made by His Excellency the Governor, Mr. John S. Duncan, OBE, acting in accordance with section 92 of the Virgin Islands Constitution, and in accordance with the advice of the Public Service Commission. The appointment took effect on June 6.
As Executive Director, Mr. Smith has the critical role to facilitate synergy between the Government, the regulatory and the industry in achieving the jurisdiction’s business development, strategic and policy objectives.
Mr. Smith will also be responsible for international cross-order regulatory matters and conducting various forms of information exchange with countries and standards development.
The Office of International Business (Regulations) will be responsible for Anti Money Laundering (AML) and Combating the Financing of Terrorism (CFT) in ensuring that the Territory’s national obligations with respect to money laundering and terrorist financing are met.
Mr. Smith has the responsibility to coordinate strategic and policy initiatives relating to international financial services information exchange matters, international financial services AML/CFT matters and Organisation for Economic Co-operation and Development Global forum, United Kingdom, European Union, United States and other international business matters.
Mr. Smith joined the Ministry of Finance as Deputy Financial Secretary in May 2003. From February to September 2005, he had an attachment with the New Zealand Treasury, where he shadowed the deputy secretary of the budget and macroeconomic branch. He was appointed Financial Secretary on May 1, 2006.
Prior to joining the Ministry of Finance, Mr. Smith worked at the Electricity Corporation in June 1996, and held the posts of Outer Islands Engineer and Deputy Generation Engineer.
He also acted in the post of Generation Engineer at the BVI Electricity Corporation, and was responsible for managing and supervising a staff of more than 70 people and making budgetary arrangements for the Generation Department.
His first appointment in the public service was as a Customs Officer/Trainee at Her Majesty’s Customs from 1986 to 1988.
Mr. Smith holds a Master’s Degree in Business Administration (Finance) from Wright State University, Ohio and a Bachelor’s Degree in Electrical Engineering from the University of Dayton, also in Ohio. He is also a chartered engineer from the Institute of Engineering and Technology and has a Juris Science Masters in International Taxation and Financial Services.
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