VIDIC seeks new CEO after Bank of Asia decision
Weeks after initiating winding-up proceedings for the Bank of Asia, the Virgin Islands Deposit Insurance Corporation (VIDIC) is now looking for a new Chief Executive Officer (CEO).
A vacancy notice issued on the government’s website for VIDIC said the new CEO will be expected to provide “strategic leadership, operational management, and administration” of the Corporation. The post is described as “critical in promoting the stability of the financial system through effective oversight of a deposit insurance scheme and management of financial institutions.”
Applicants are required to have at least fifteen years of relevant experience, including senior management roles in the financial sector. “Specific experience in deposit insurance is highly desirable,” VIDIC stated.
The job opening follows reports that former CEO Lisa Violet resigned shortly after VIDIC filed a petition to liquidate the Bank of Asia. A local media outlet reported that she stepped down amid rising tensions linked to political interference.
In the current job notice, VIDIC highlighted that the CEO will be responsible for implementing the Board’s decisions, overseeing day-to-day operations, managing risk, and leading the development of corporate policies and strategies. The CEO must also “provide advice to the Board on technical, financial, and administrative matters” and represent the Corporation in local and international forums.
Other key duties include leading change management, ensuring compliance with relevant frameworks, overseeing human resources, and developing a corporate business plan in conjunction with executive management.
The successful candidate should have extensive knowledge of financial services and banking, strong leadership and policy skills, and the ability to maintain trust and discretion. VIDIC also noted that “a good grasp of the techniques of banking and deposit insurance” and familiarity with international deposit insurance standards are preferred.
Applications for the role must be submitted by 24 July 2025.
There have been widespread controversy surrounding the bank, after government reportedly deposited five million dollars sometime between December 2024 and April 2025 — after the bank’s owners had filed for bankruptcy in January 2025 and their assets were globally frozen due to a legal dispute with a former business partner.
Premier and Minister of Finance Dr Natalio Wheatley has since sanctioned an internal audit on the matter. However, Opposition Leader Myron Walwyn formally wrote to Governor Daniel Pruce to, among other things, ascertain whether the government did its due diligence in assessing potential risks to public funds before depositing the five million dollars into the failing Bank of Asia. He argued that any probe must be conducted independently and not under the direction of the Premier.
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I feel sorry for the previous CEO she obviously got stuck between a rock and a hard-head and was left with no place to go.
GB media said it. People denied that the CEO resigned on the basis she was still showing up to work. Some people forgot that most jobs have a notice period meaning after you resign, you still have to show up during your notice period.
If natalio Wheatley think this sacrifice will quell the call for an independent inquiry, he salt. It is he natalio who should have resign.
Faithful to Friends & Family
I thought them said on de yello site that it lie Cyndi a tell.This about 10 times now them say Cyndi telling untruth, now come to find out is them a tell lie. Cyndi got credibility and is one of the best reorter them.So ayo tek tha.
Cindy winning hearts and minds.
Don’t tell me that those Anguillan Vampires sucked that Bank dry?
Ayo think that woman stupid? She smell trouble and she buss off! Good for her. Independent investigation needed!
They tried to make it appear as though she was making $hit up turns out she was correct. She is really becoming the ONLY reliable Journalist in BVI. Everyone else is afraid to challenge the power structure. Even some of the other media outlets that are more serious and do some indepth reporting doubted her. shm.
Anyone who tells the truth in BVI is subject to persecution and ridicule by the wicked and ignorant population.
Must be an ex pat with NO relatives in the BVI!
She is not a reliable journalist. Share links for the following:
– Investigative reporting as it relates to water/road issues plaguing he territory.
– Investigative reporting as it relates to the state of education in the territory.
– Investigative reporting as it relates to the state of healthcare in the territory.
– Investigative reporting into the unethical and predatory behavior by some banking institutions in the territory.
– Investigative reporting into the rebuild of the Admin Complex which is 8yrs ongoing.
– Investigative reporting on the lack of tourism plan for this territory.
– Investigative reporting on the state of sports and recreational facilities in the territory.
I can go on and on. Using a trade license to offer media services to go after the persons you dislike is not journalism, it’s called vendetta and witch hunting. If any journalist is to be taken seriously they should report on ALLLLLL important matters affecting the territory not just on the people they do not like. A quick glance at the website shows they only report negative stories on the Premier and Lorna Smith along with some crimes. That’s it, nothing else.
You claim she only reports bad things about Wheatley and Smith? Have you read the yellow rag recently? If I read one more time on there “Many have said” when trying to push the wigged ones agenda!
I see what you did there , so you didnt refute the accuracy , effectivness or thoroughness of her reporting instead you used a sleight of hand to change the narrative . You would like her to be your effective attack dog, then she would be ok. Well just about all media platforms have some bias and all the others seems intimidated to report on this story so why not have some of the other media platforms do the in depth reporting on those issues you seek? Why does it have to be Cindy …unless …you are admitting that she does the best job of any of the reporters . If that the case then you know what? I am with you.
This poster has clearly ruffled feathers. Nobody is saying the BOA story is not true, what the poster said is that it seems that this media house only exists to go after certain people. That is not journalism, it’s called targeted smearing. Claiming that the yellow site does it too and that the story is true does not change the fact that the media house is very selective with its coverage and cannot be considered fair and unbiased, reputable media house. Ever wonder why people can’t bathe for months but no outrage from this media house on that? It’s because she is ‘cool’ with the Minister so he is off limits. NO outrage about roads, no outrage about water, no outrage about power outages, all under the same Ministry but Sowande and Lorna must go. You can fool some people some of the time but…………………….
Ruffled feathers?? Hardly , but let me ask you , when was the last time you saw a positive comment on FOX News about a democratic President any democratic president ?? And the same exist on MSNBC with Republican presidents and their agendas , my point being that dont act as thought Cindy would be the first ? As I said they ALL have their biases, so lets not hold her to a different standard.
The CEO will and must do the board’s bidding. The board looked out for who in BoA scandal? No coincidences. All strategies played out while the secret Asia meetings and other exotic location meetings to setup the plays.
Still no word regarding independent forensic investigations into the who, what, where, when, of the payers and beneficiaries of this hustle!
All I see is failed attempts at damage control while trotting out the same show ponies last week for high level meetings at exotic locations! Messaging is failing here and reputational damage done. Where is the FCA Govenor?!?
The replacement CEO needs to be someone with intimate knowledge of the BVI banking system, someone NOT from the BVI or who gained some form of “status” through the special favors of a BVI politician and someone who was respected as impartial, independent and diligent in their work. Otherwise, VIDIC will become another government stooge and we will never know where our $5M went. Any ideas?
From the moment the last election was called,the VI people saw the worst corrupt,dishonest and non producing govrtnment in the history of its politics in thses islands. I took the taking down of the ring leader to curb the robbery and stealing some what.