Business: A Jamaican "In Reserve"

Dave Rodney

A Jamaican from Mulgrave Lane off Slipe Pen Road in Kingston, Clive W Blackwood, has been recently named executive vice president and general auditor of the Federal Reserve Bank of New York, the largest bank in the federal reserve system in the United States. The appointment was made by the bank's board of directors, and Blackwood will be responsible for internal audit at the New York Fed. He will report directly to the board of directors of the bank.

Blackwood is now the bank's liaison with all matters relating to the Office of the Inspector General of the board of governors of the Federal Reserve System. Additionally, he is the bank's liaison to the US Government Accountability Office. The Federal Reserve Bank formulates and executes monetary policy, supervises and regulates depository institutions, keeps prices stable, employment high, inflation low and fosters a stable financial climate.

Mr. Blackwood has a solid background in risk and auditing, spanning over twenty years in the financial services industry. For the past ten years, he has held a number of positions of increasing responsibility within the Internal Audit Group of the New York Fed. Previously, he was audit director at American Express Company. He also served as an auditor at KPMG's Assurance Services practice, and he has served on the board of directors of the New York Chapter of the Information Systems Audit and Control Association (ISACA).

"Clive has distinguished himself as an auditor and a leader both at the New York Fed and across the system, and he will be a great general auditor", William C Dudley, president and CEO of the New York Fed said.

Clive Blackwood is a graduate of Ardenne High School in Kingston and he holds a bachelor of science degree from New York University. While pursuing his studies in the United States, Blackwood held a number of non-banking jobs along the way to enable him to advance his studies, working as a cook at McDonald's and as a sales clerk at Macy's Department Store. Before migrating to the United States, Blackwood had worked at the COK Solidarity Cooperative Credit Union in Cross Roads for eight years under the leadership of former general manager Aloun Ndombet-assamba.

"At COK, Clive was a pleasant and hard-working staff member", Ndombet-assamba, now Jamaica's high commissioner to the United Kingdom recalls. "I am proud of his growth, and proud that COK had a hand in molding him and his work ethics", she continued.

Clive is now a certified internal auditor, a certified information systems auditor, a certified financial services auditor and a certified bank auditor.
"I am elated and humbled by this appointment, and it proves that hard work, determination and faith do pay". Blackwood told the Gleaner. And anything I do, I do it with passion and integrity", he affirmed.

source - Daily Gleaner