Authority appoints new Head of AML/CFT

The Isle of Man Financial Services Authority has announced the appointment of Ashley Whyte as its new Head of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT).

She will take over the top role in the AML/CFT Supervision Division in March, succeeding Ian Spence who is retiring after a long-standing career in financial regulation in the UK and Isle of Man.

Ashley, a qualified Company Secretary who holds a BA in Business and Law from Stirling University, was appointed following an open recruitment process. She is well known within the Island’s finance industry having risen through the ranks since joining the Financial Supervision Commission as a graduate trainee in 2007.

Over the course of her career, most recently as a Senior Manager in the AML/CFT Division, she has developed a wealth of technical expertise, in addition to relationship building and leadership skills.

As Head of AML/CFT, Ashley will lead a team of 20 officers dedicated to the AML/CFT supervision and oversight of all regulated entities and designated businesses in the Island. The division is also responsible for beneficial ownership oversight, as well as maintaining and updating AML/CFT policy and guidance.

Ashley, who has a post-graduate diploma in financial crime, will also become part of the senior executive team, which works in conjunction with the Board to set the strategic direction of the Authority.

Bettina Roth, the Authority’s Chief Executive Officer, said: ‘AML/CFT supervision remains a top priority for the Authority as part of our work to combat financial crime. Ashley has a strong track record of professional achievement and will bring valuable experience to what is a demanding role. I am delighted to have someone of her calibre in post ahead of what will be a period of intense international scrutiny for the Island.’

Ashley added: ‘I am looking forward to working alongside my colleagues and those in industry to safeguard the Island’s reputation as an excellent place to do business. We are committed to developing our risk-based approach to AML/CFT supervision and providing an appropriately regulated environment for Island firms to operate within. I am also excited to take on the challenge of supporting preparations for the Island’s next MONEYVAL evaluation having been heavily involved in the previous assessment in 2016.’