The Bermuda Public Accountability Board (BPAB) was established upon enactment of The Bermuda Public Accountability Act of 2011 (the Act) to provide oversight of Bermuda accounting firms that audit Public Interest Entities (PIEs), as defined by the Act and subsequent amendments thereto. The Act provides for a comprehensive, independent and transparent system of oversight by establishing BPAB and granting it powers to carry out the independent supervision of PIE public accountants.

BPAB has an Executive Director who manages the operational, strategic and financial day-to-day operations of BPAB, including the administration, programs, and strategic planning of BPAB. All key decisions of BPAB require approval of the majority of the Board of Directors.

The Directors of BPAB are responsible for oversight of BPAB’s activities and affairs. The Board has a Chairman, a Secretary, and at least two other non-executive members. Three of the Directors are professional accountants and one director is a seasoned financial and investment professional providing prudent independence and oversight. The Act specifies that a Board member is initially appointed by the Minister of Finance for a three-year term, with extended terms as permitted by the Act. Terms for certain directors may vary to stagger the terms.

The Directors of BPAB are as follows:

 

Michelle Seymour Smith, 

Michelle Seymour-Smith is an accomplished leader with over 20 years of international experience in public companies in the insurance and reinsurance industry.  She serves as non-executive director on various boards and committees, including as chair, and previously served as the Chief Transformation Officer of Arch Capital Group having previously held roles as Chief Financial Officer and Chief Operating Officer of Arch Reinsurance Ltd.  Michelle has been recognized as one of 100 Influential Women in Insurance and Reinsurance by Intelligent Insurer and was named as a Fellow of the International Women’s Forum Leadership Foundation Program in 2017. Michelle is a CPA, CA and a member of the Chartered Professional Accountants of Bermuda.

 

Andrew M. Marsh, Director

Andrew M. Marsh works as an investment consultant for a private investment office and advisory firm based in Bermuda. He also serves as an independent director for private investment companies. Andrew brings over 25 years of in-depth capital markets and asset management experience working for top global investment firms including Goldman Sachs (J. Aron & Company), Dai-Ichi Kango, and Alfred Berg in London, Stockholm, and Hong Kong. Andrew has spent time working in senior positions for hedge funds and asset management companies as chief economist, proprietary trader and equity analyst.

 

Natalie Chaves, Director

Natalie Chaves has over 30 years of international experience in the insurance and reinsurance industry.  She most recently served as a Senior Vice President in the global Finance team at RenaissanceRe until 2023 and held increasing levels of responsibility since she joined the company in 2006.  She joined the Westmeath Board of Trustees as Treasurer in 2021 and serves on the St. Patrick’s Roman Catholic Church Parish Council and the Roman Catholic Diocese of Hamilton Investment Subcommittee.  Natalie is a CPA, CA and a member of the Chartered Professional Accountants of Bermuda.

 

Wanda Mwaura, Secretary, Executive Director

Wanda Mwaura has served as the Executive Director of BPAB since January 2020. She also serves as a non-executive director on various boards and committees and is the chair of the audit committee or audit & risk committee for two publicly listed entities.  Wanda was formerly the Chief Accounting Officer of PartnerRe Ltd. and a Partner of Ernst & Young Ltd. (EY).  During her 17-year career at EY, Wanda served on various boards and committees including the Institute of Chartered Accountants of Bermuda (now known as CPA Bermuda), the Bermuda Insurance Institute, and the former Atlantic School of Chartered Accountants. Wanda is a CPA, CA and a member of the Chartered Professional Accountants of Bermuda.