Left: Maya Walrond ... has a new title of senior vice-president for non-branch sales and service. Center: Julie Thomson James ... now senior legal counsel and chief compliance officer. Right: Rosemarie Pilliner ... portfolio expanded to cover Scotiabank's northern Caribbean region.

Jamaica's top banking group by deposits, Scotiabank Jamaica, has cut the positions of two senior managers in the latest round of a management shake-up that began with the controversial exit of former chief executive Bill Clarke last year.

The Scotia Group announced this week that Elena Villafana-Sylvester, vice-president of electronic financial services and retail banking, and Keri-Gaye Brown, general counsel and company secretary, were no longer employees of the bank.

Their positions were made redundant. Villafana-Sylvester leaves today.

The bank has explained the redundancies and separation of the executives as part of a restructuring exercise designed, it said, to achieve greater efficiencies.

Heather Goldson, a spokeswoman for the company, said both positions have been reduced in scope. In the case of the general counsel, responsibility relating to compliance was removed.

The bank also announced four portfolio revisions as part of the restructuring.

Julie Thompson James, whose rank is that of vice-president, will serve as both senior legal counsel and chief compliance officer, effective November 4.

Suzette McLeod is senior vice-president, business support, with oversight for administration, systems, facilities, security and investigations, compliance and legal counsel.

Scotia Bank officials have been careful to point out that the responsibilities of the company's chief compliance officer as designated by the Bank of Jamaica remain unchanged by the staff shake-up.

"The group continues to examine the business in an effort to streamline and ensure that changing strategic priorities are being met," Goldson, the senior vice-president of marketing told the Financial Gleaner.

In terms of the retail portfolio, Goldson said operational changes included the separation of product management from retail-lending and deposits.

In the new configuration, Rosemarie Pilliner, former executive vice-president for operations and shared services has been named executive vice president for the Caribbean North shared services hub, effective November 6.

The bank has signalled that its shared services and operations have taken on more of a regional focus, as part of a new strategic priority giving more attention to non-branch sales and service.

Under the new arrangements, Goldson said, Pilliner is expected to "lead the transformation of Jamaica's shared services unit into a regional shared service hub as part of Jamaica's 2010 strategic imperative to start providing services to other countries."

As part of the changes at the bank, its spokesperson said, senior vice-president Maya Walrond, has been designated to lead the development of new non-branch sales channels and will oversee the sale of credit cards and other retail products through external sales channels, worksite marketing, self-service banking and the Jamaica-based Regional Customer Contact Centre.

The continued reshaping of the team follows the June 1, 2009 promotions of Wayne Hewitt as senior vice-president for corporate and commercial banking, and Hugh Miller as vice-president for treasury.

Absent from this week's announcements was a new head for the bank's insurance arm.

The position became vacant in September when Jacqueline Sharp was promoted within Scotia Group to the position of chief financial officer.

Sharp took over the top finance spot from Stacie-Ann Wright, who resigned as part of the direct fallout from the switchover to a new president one year ago.

Goldson said that, despite her promotion, Sharp still provides "management oversight and guidance to the (insurance) business in the interim, and there are highly capable managers within each area."

avia.collinder@gleanerjm.com