The Central Bank of The Bahamas has appointed Abhilash Bhachech as inspector of banks and trust companies, it announced at the end of last week.

Bhachech assumes office officially on Monday, February 13, 2012.

Bhachech’s career experience includes public accounting, management consulting, banking, information technology enterprise in financial services and a senior financial regulatory role in the public sector.

His most recent posting was a ten-year position with the Office of the Superintendent of Financial Institutions (OSFI), Canada, where he held the post of Managing Director, Risk Measurement and Analytics Assessment Services. His divisional mandate included approval of all regulatory capital models for credit, market and operational risks through assessment and monitoring of model risks in banks and insurance companies.

During his nearly decade-long engagement with OSFI, Bhachech played a key role in developing, implementing and managing the Basel II programme in OSFI for assessing banks’ operational risk management approaches and their integration with OSFI’s supervisory framework. He also headed the Operational Risk and Capital Assessment function in OSFI, with accountability for assessing operational risks, as well as the adequacy of capital attributed to operational risk in the context of Basel II, and was Co-Chair of the IT Working Group in the Senior Supervisors Group.

Prior to OSFI, Bhachech progressed from banking analyst to senior management roles in the Bank of Nova Scotia (Scotiabank) Canada. He holds an MBA (MIS & International Finance) from Case Western Reserve University in Cleveland, Ohio; a Bachelor of Commerce (Accounting & Auditing) from Sydenham College, University of Bombay, India; and a post graduate certification in Public Accounting and Auditing from the Institute of Chartered Accountants of India.