A Bermuda Monetary Authority (BMA) veteran has been appointed the organisation’s chief operations officer.

Shanna Lespere, who has worked in a variety of roles in her more than a decade with the Island’s financial watchdog, moves from her current position of director of operations.

BMA chief executive Jeremy Cox said: “Shanna has been the ultimate team player at the authority and we are delighted that she’s agreed to take on this important role.

“There’s little she doesn’t know about the work we do, having overseen activities in most areas.”

Ms Lespere’s new role includes oversight of communications, document management, enterprise risk management, facilities, finance and currency, human resources, information technology and project management.

Mr Cox said: “It’s important for the authority to have a strong COO at his stage in our evolution.

“Worldwide, regulatory requirements have increased considerably over the past decade and we’ve had to raise our standards accordingly.

“Being solid operationally is essential to ensuring we function as a world-class regulator and Bermuda remains a credible, trusted and respected jurisdiction.”

Ms Lespere joined the BMA in 2004 as assistant director of the banking, trust and investment department’s investment group.

Before joining the BMA, she was a vice president at Aon Insurance Managers and also worked in the audit and accounting departments of professional services firm PwC while studying for her Certified Management Accountant designation.

BMA chairman Gerald Simons said: “We know Shanna will continue to bring value to the organisation in her new and expanded position and we look forward to working even more closely with her.

“One of the key responsibilities of the board is to oversee the leadership of the BMA.

“The top team is excellent — Shanna’s promotion will strengthen it even further.”