Last Friday, the National Treasury announced the appointment of key executives to the Financial Services Board (FSB), including Mutual & Federal’s Caroline da Silva, who has been appointed deputy executive officer for Financial Advisory and Intermediary Services (FAIS), to take effect from 1 August.
Commenting on why she wanted to join the FSB, Da Silva told RISKSA that her love for regulation began very early on in her career. “I loved anticipating how the industry would respond to new regulation and identifying the opportunities that would emerge as a consequence, since for me regulation is simply a catalyst for good business practice,” she says.
Da Silva replaces Gerry Anderson, who has been deputy executive officer since 2004 and now serves as chief operating officer and acting deputy executive officer for intermediaries at the FSB.
“Every good CEO in the financial services sector will tell you that they believe in the intention of market conduct regulation and acknowledge that the amount of regulation we face now is inversely proportionate to the level of trust the customer has in the sector,” continues Da Silva, who was previously executive for market development at Mutual & Federal and brings extensive experience in the short-term insurance industry, having worked with the FSB on several projects.
“I love the industry and I am very conscious of the need to truly connect with our customers to be sustainable. For me, the very best place to do that, to build an industry that customers trust, understand and believe in, is the FSB,” she adds.
Raimund Snyders, recently appointed CEO of Mutual & Federal, says, “At Mutual & Federal, we view Caroline’s role at the FSB in a particularly positive light. The regulatory framework that governs our industry presents an opportunity to improve customer service, prudent risk management and to increase our professionalism. With her knowledge of Mutual & Federal, Caroline will be valuable for our business in this regard.”
Snyders adds that the industry stands to benefit from Caroline’s experience, knowledge and strong networks.