The Cayman Islands Monetary Authority (CIMA) has promoted three senior officials and appointed a new specialist as part of efforts to strengthen its leadership and technical capacity, the regulator said
Stephanie Azan, Dominique Michelle Lloyd and Kathleen Bulatovic were promoted effective Jan. 1, 2026, while Heather Timothy joined the authority on Feb. 9 as a reinsurance specialist in the Insurance Supervision Division.
The changes come as CIMA continues to develop its regulatory and supervisory framework in line with the Cayman Islands’ role as an international financial center
Azan was named head of the Onsite Inspection Unit after serving as deputy head since 2023. She joined the authority in 2017 and previously worked as chief financial officer within the Cayman Islands Government. She succeeds Razaak Busari, who had led the unit since August 2023.
Lloyd, who joined CIMA in 1997, was appointed head of the Currency Division. She previously served as deputy head and has held roles across the authority, including in its Finance Division.
Bulatovic was promoted to deputy head of the Policy and Development Division. She joined CIMA in 2025 and has more than two decades of experience in financial regulation and market oversight, including roles in New Zealand.
Timothy, the new reinsurance specialist, brings more than 15 years of experience in the regional insurance industry, including work in reinsurance strategy and disaster risk financing.
In a statement, CIMA Managing Director Cindy Scotland said the appointments support the authority’s mandate to maintain a stable and well-regulated financial system.
