Jewel Hydes
West Bay
Summary
Experienced Compliance and Risk Management Professional with over 20 years of proven track record overseeing compliance and risk operations for top Cayman Islands and United States financial organizations. Skilled in serving as an AML Officer and Director for a diverse range of Funds, Corporations, and Trusts, ensuring adherence to regulatory requirements and mitigating potential risks. Demonstrated expertise in developing and implementing effective compliance strategies to safeguard assets and maintain regulatory compliance across all levels of the organization. Proven ability to navigate complex regulatory landscapes and drive operational excellence in high-stakes environments.
Overview
19
19
years of professional experience
1
1
Certification
Work History
VP, Regulatory Compliance and Risk
EFG Bank, Cayman Branch
04.2024 - 03.2025
- Cultivated strong relationships with key stakeholders, including customers, vendors, regulators, and community leaders to promote collaboration and long-term success.
- Led cross-functional teams for the successful completion of major projects, resulting in increased efficiency and client satisfaction.
- Demonstrated proficient leadership skills to motivate employees and build competent teams.
- Collaborated with senior management to develop strategic initiatives and long term goals.
- Negotiated high-value contracts that maximized profitability while mitigating risks for the organization.
- Managed financial planning and budgeting processes, ensuring fiscal responsibility and maximizing return on investments.
- Established a culture of continuous improvement, fostering innovation and driving sustainable growth across the organization.
- Identified opportunities to improve business process flows and productivity.
- Leveraged technology to automate workflows and streamline processes, resulting in increased productivity and cost savings across the organization.
- Enhanced company profitability by implementing strategic business plans and optimizing operational processes.
- Built high-performance teams through effective recruitment practices focused on competency alignment coupled with ongoing performance management processes.
- Delivered strong financial performance despite challenging economic conditions by executing prudent risk management strategies throughout all aspects of business operations.
- Ensured regulatory compliance at all times by implementing robust internal controls systems coupled with proactive monitoring mechanisms.
- Launched new products or services in various markets by conducting comprehensive market research studies and tailoring offerings based on customer needs analysis.
- Represented organization at industry conferences and events.
- Monitored key business risks and established risk management procedures.
- Collaborated with legal, accounting and other professional teams to review and maintain compliance with regulations.
VP, AML Supervision
Merrill Lynch Bank and Trust
05.2021 - 04.2024
- Responsible for overseeing monthly Transaction Monitoring.
- In-Charge of 2022 AML remediation project with had a 99% completion success rate.
- Review and approve/reject SOF/SOW prior to client onboarding. Eg. Individuals, Trust, Corporations.
- Oversight of CIMA inspection and remediation meetings.
- Provide management with regulator guidance and notify of any changes that occur from a regulatory perspective.
- Provide AML training to internal staff on island and also to international financial and client advisors.
- Instrumental in developing the automated transaction monitoring tool.
- Attend Board of Directors and Risk Committee meetings.
- Lead on internal audit relating to the 2022 remediation project.
- Self-motivated, with a strong sense of personal responsibility.
- Worked effectively in fast-paced environments.
- Led cross-functional teams for the successful completion of major projects, resulting in increased efficiency and client satisfaction.
- Negotiated high-value contracts that maximized profitability while mitigating risks for the organization.
- Managed financial planning and budgeting processes, ensuring fiscal responsibility and maximizing return on investments.
- Leveraged technology to automate workflows and streamline processes, resulting in increased productivity and cost savings across the organization.
- Implemented advanced data analytics tools to drive data-driven decision-making across all levels of the organization, leading to better business outcomes.
- Ensured regulatory compliance at all times by implementing robust internal controls systems coupled with proactive monitoring mechanisms.
- Launched new products or services in various markets by conducting comprehensive market research studies and tailoring offerings based on customer needs analysis.
- Represented organization at industry conferences and events.
- Monitored key business risks and established risk management procedures.
- Devised and presented business plans and forecasts to board of directors.
- Analyzed industry trends and tracked competitor activities to inform decision making.
VP, AML Services Manager
Ocorian Trust
02.2020 - 04.2021
- Performed AML services for numerous fund structures in the capacity of AMLCO and MLRO.
- Attended Board of Directors meetings to present the AML report in the capacity of the AMLCO/MLRO for clients.
- Developed and maintained AML procedures for clients.
VP, Compliance and Operational Risk
Cayman National
09.2013 - 11.2019
- Participated in local Regulatory CIMA Prudential Meetings, onsite inspections, CFATF 4th round evaluation exercise, PWC external audits, 3rd party vendors and Correspondent Bank engagements.
- Report quarterly to the Audit Committee and Bi-Annually to the Board of directors on regulatory, compliance and operational risk issues.
- Provide guidance on risk and compliance matters to various departments and business units.
- Provide assistance and various information to the Financial Regulatory Authority (FRA), Financial Crime Unit (FCU), Local Tax Authority, CIMA as it relates to investigations, complaints, onsite inspections, SARs. etc.
- Development and maintenance of the following internal logs: PEPs - Foreign and Local, SARs Log, ISARs Log - mechanism for staff to report suspicious activity, Incident Reports Log - Required for Annual ICCAP reporting, External Requests log - FRA, FCU, Tax Authority, Court Order, Dormant Accounts Log - Annual reporting CI Government.
- In addition to the above I developed PEP and external requests policy/procedures.
- Lead on Bank's AML Risk Assessment to determine all associated AML risks and address in accordance to a risk-based approach.
- Conduct AML GAP Analysis for various policies and procedures to ensure compliance with pertinent amendments to guidance notes, AMLR, Statement of Guidance (SOG) and other Laws and Regulations.
- Acted in the capacity of MLRO and DMLRO.
- Facilitated AML annual training and also assisted with the development and various changes to the annual AML presentation, ensuring compliance with recent amendments with local regulations and guidance notes.
- Conduct bank-wide annual fraud training to ensure compliance with guidance notes.
- Develop and implement the Bank's annual risk assessment and compliance monitoring program to ensure compliance with local regulatory requirements which included but not limited to: AML Processes/Procedures GAP Analysis, Wire Transaction Processes, Sanctions/Screening Processes, Credit card Transactions, New/Existing Business, Internal/External Reporting Procedures, Automated Clearing House (ACH), AML Training Regulatory processes, Safe Deposits, Hold Mail.
- Coordinate onsite inspections for local regulator (CIMA) as a part of their audit program of Bank's compliance to local laws, SOGs and guidance notes.
- Developed various policies and procedures for the Operational/Compliance department and the wider bank which includes but not limited to the following: Client Risk Ranking, AML Policy, Sanctions and Screening Procedures, Client Name Scrubbing, Dormant Accounts, Inactive Accounts -Fraud Review, Large Item, PEP Policy/Procedures, Electronic Funds Transfer (EFT) Procedures, Corporate Governance, Restricted Accounts, Incident Report Management, Human Trafficking Policy, PEP Monitoring.
- Developed various internal controls and reports within the Compliance Department to provide better monitoring and risk mitigation such as: PEP Monitoring Report, PEP Quarterly Reconciliation Process, SOF Customers Reconciliation/Monitoring, PEP Associates Report, Inactive Accounts Fraud Monitoring Report.
- Conduct annual PCI Risk Assessment for the bank and present findings to Executive and Management.
- Perform annual testing of the bank's BCP and disaster recovery plans and present report to Executive Management and Audit Committee as it relates to the effectiveness of the plan and risk exposure.
- Lead on the implementation of the bank's new AML transaction monitoring system (FISERV).
- Conduct special fraud, compliance and risk investigations as requested by various business lines and Executive Management.
- Oversight and monitor the Bank's KYC remediation project to ensure compliance with local regulatory authorities including Inter-Governmental Agreement (IGA) for tax purposes.
- Deliver and maintain an operational risk management governance framework in line with Group and local regulatory standards.
- Review all incident report submissions and determine what further action is required by the business line and lessons learnt.
- Provide relevant information relating to operational losses to be included in the Bank's ICAPP reporting to the Regulator.
Audit Manager
Credit Union Of The Cayman Islands
01.2013 - 09.2013
- Prepare quarterly Audit Committee Reports; attend Supervisory Committee meetings for the reporting of internal control deficiencies, risk oversight and governance.
- Perform audits, special investigations and reviews of the business and support departments of the Credit Union.
- Perform risk assessments of all auditable functions, departments etc of the Credit union.
- Design and develop risk-based audit programs to assess operational and business risks.
- Prepare and finalize annual audit plan, audit reports for Supervisory Committee/Departmental Management.
Chief Financial Officer
Westin Hotel Resort And Spa
01.2012 - 12.2012
- Monitored and controlled a budget of CI$35 million dollars.
- Prepared monthly, quarterly and weekly forecasting reports.
- Analyzed hotel business activity and cash flow position in the areas of income, expenses and earnings.
- Completed sales, occupancy and tax returns for filing.
- Developed annual, monthly and quarterly budgets.
- Reconciled local and overseas Bank accounts.
- Reviewed and monitored accounts payable, accounts receivable and income audit.
- Prepared end of month profit and loss statements for reporting.
- Performed month end reporting for owner and management discussions.
Manager Internal Audit
Butterfield Bank
01.2006 - 12.2011
- Prepared quarterly Board and Audit Committee reports; attended quarterly meetings for the reporting of internal control deficiencies, risk oversight and governance.
- Performed audits, special investigations and reviews of business and support departments of the Bank.
- Performed domestic and overseas bank audits for the bank and its subsidiaries.
- Participated in the integration of Audit Command Language (ACL) in audit programs to comprehensively interrogate banking systems and processes.
- Designed and developed risk-based approach audit programs to assess operational and business risks.
- Prepared and finalized yearly audit plans, financial budgets and audit reports for Executive and Departmental Management.
- Developed Audit Universe for Cayman and Bahamas jurisdiction, to formulate a risk-based approach strategy.
Education
MBA -
The University of Tampa
Tampa, FL01.2003
Bachelors of Science - Accounting
The University Of Tampa
Tampa, FL01.2001
Skills
- Computer Proficient Microsoft Office Applications
- Report Writing Techniques
- M3 Accounting and Forecasting tools
- Phoenix Financial System
- FiServ Transaction Monitoring tool
- REEFs Portal
- World Check
- Dependable and responsible
- Critical thinking
- Organizational skills
Certification
- Certified Anti-Money Laundering Specialist (CAMS)
- Certified Public Accountant (CPA)
- Operational Risk Certification
- Payment Card industry Professional (PCIP)
Accomplishments
- Commencement Speaker at Graduation Ceremony (2001)
- Outstanding Graduate in Accounting Award (2001)
- Nominated for Senior of Year Award (2001)
Timeline
VP, Regulatory Compliance and Risk
EFG Bank, Cayman Branch
04.2024 - 03.2025
VP, AML Supervision
Merrill Lynch Bank and Trust
05.2021 - 04.2024
VP, AML Services Manager
Ocorian Trust
02.2020 - 04.2021
VP, Compliance and Operational Risk
Cayman National
09.2013 - 11.2019
Audit Manager
Credit Union Of The Cayman Islands
01.2013 - 09.2013
Chief Financial Officer
Westin Hotel Resort And Spa
01.2012 - 12.2012
Manager Internal Audit
Butterfield Bank
01.2006 - 12.2011
Bachelors of Science - Accounting
The University Of Tampa
MBA -
The University of Tampa
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