Fayval Williams

The Honourable
Fayval Williams
Member of Parliament
Minister of State for Finance
Assumed office
7 March 2015
Prime Minister Andrew Holness
Member of Parliament for St Andrew Eastern
Assumed office
10 March 2015
Preceded by Andre Hylton
Personal details
Born (1958-05-28) May 28, 1958
St Catherine
Nationality  Jamaica
Political party Jamaica Labour Party
Spouse(s) Leo Williams
Alma mater

Fayval Shirley Williams (born 28 May 1958) is a Jamaican politician who is the Member of Parliament for the St Andrew Eastern constituency.[1][2] She is also State Minister in the Ministry of Finance and Planning with responsibility for fiscal policy having served as deputy spokesperson on Finance since April 2014.[3][4] In June 2014, Fayval Williams was named as a member of the Jamaica Labour Party's Economic Advisory Council.[5][6]

She was elected as Member of Parliament 25 February 2016 when she polled 7143 votes to become the first female Member of Parliament for St Andrew Eastern.[7] She is a member of the governing Jamaica Labour Party and has served as secretary for the party's Central Executive Committee.

Education

Fayval Williams is a Chartered Financial Analyst (CFA). She has a Masters in Business Administration (MBA) with concentration in Finance from The Wharton Business School at the University of Pennsylvania and a Bachelor of Arts (cum laude) in Economics from Harvard University in Cambridge, Massachusetts. Fayval attended Ferncourt High School in St Ann, Jamaica.[8]

Early Career

Shortly after leaving high school, Fayval Williams landed a job at the Bank of Nova Scotia in Kingston where she worked as a teller for three (3) years before she left to pursue higher studies in the United States.

She would later work as an Information Systems Analyst for Morgan Stanley, an American multinational financial services corporation that provides securities products and services to customers, including corporations, governments, financial institutions, and individuals.

She gained valuable experience at the Equitable Real Estate Investment Management in Chicago, Illinois. While there, she performed valuation analysis on commercial real estate properties.

Politics

Fayval Williams, Delroy Chuck & Prudence Kidd-Deans

Fayval Williams was first sworn in as Member of Parliament in the House of Representatives on 10 March 2016.

She was presented as caretaker for the St Andrew Eastern constituency 23 March 2015 by the leader of the Jamaica Labour Party Andrew Holness after having been organising the consitituency since early 2014.[9] She was officially nominated as the Jamaica Labour Party candidate on February 9, 2016 at the Mona High School.[10][11][12] Williams succeeded Dr Saphire Longmore as caretaker, who lost to the People’s National Party’s (PNP) Andre Hylton by a mere 254 votes in the 2011 General Election. During the tenure of Dr St Aubyn Bartlett (former Member of Parliament), she served as constituency treasurer.

Finance Ministry

On 7 March 2016, Fayval Williams was appointed as State Minister in the Ministry of Finance to work along side Audley Shaw and Rudyard Spencer. Her portfolio responsibilities include but not limited to fiscal policy.[2][4]

Parliament

In the lower house of parliament, Fayval Williams sits on the Public Administration and Appropriations Committee (PAAC). The committee has the task of monitoring spending by all Government ministries, departments and agencies. She is also a member of the Human Resource and Social Development Committee.

Investment and Brokering

Jamaica

Fayval Williams

Fayval Williams served as executive director of Kingston Properties, a Real Estate Investment Trust company from 2008 until 2015 when she resigned to take up duties in the Jamaica Labour Party as its caretaker for the constituency of St Andrew Eastern. Fayval, her husband Leo Williams and Stuart White conceptualized the real estate investment company in 2007 to invest in the Carlton Savannah Hotel in Port of Spain, Trinidad, naming the company Carlton Savannah REIT (Jamaica) Limited.[13][14][15][16][17]

During the 7 years Mrs Williams held the position as Executive Director, shareholders equity in Kingston Properties grew from J$406.6 million to J$793.6 million at end of June 2015.

Williams worked with Jamaica Money Market Brokers Limited (JMMB Ltd). She was involved in decision-making at the senior management level at JMMB. She also led JMMB’s endeavour to develop world-class investment research capabilities.[18]

Her other duties at the money market brokers company include interfacing with the Financial Services Commission and the Jamaica Security Dealers Association (JSDA) on issues such as the impact of international accounting standards (particularly IAS39), development of a local Jamaican fixed income yield curve, determining capital adequacy and margin requirement for the local Repo Market. At JMMB, Williams also provided oversight for non-standard lending and served as the Head of the Valuation and Pricing team for JMMB’s public offering in December, 2002. Additionally, Williams served as chief investment officer of JMMB Limited from 2005 to 2007 with investment responsibilities spanning the trading department, investment research, and pensions.[19][20]

Fayval Williams on her return to Jamaica has consulted with the Financial Services Commission (FSC) in the area of risk management, research and policy.[21] Her working papers included: Regulatory framework for private equity funds in developed capital markets; FSC’s Competition Policy Statement; Criteria for Recognizing a Caribbean regional Credit Rating Agency; and The Concept of Accredited Investors in the Jamaican Financial Market. She also worked on the development of early warning ratios for the brokerage industry; performed analytical work on Jamaica’s bond price volatility and liquidity management strategies; developed FSC’s input into the Memorandum of Understanding of the International Organization of Securities Commission (“IOSCO”); researched comparative information on Educational Savings Plans; led efforts to complete the IOSCO-Self Assessment exercise for the FSC.

United States

Fayval Williams worked in the area of equity analysis at Putnam Investments, a top-10-global mutual fund manager located in Boston, Massachusetts. Her investment recommendations span various companies in a variety of industries such as advertising, restaurant, global airlines, telecom, direct broadcasting satellite, environmental services, defense, power systems and technology. She published detailed financial forecasts and in-depth company and industry reports used by the various product groups at Putnam. Her stock recommendations outperformed the S&P500 during 1997-2001. She also had portfolio management responsibilities for a segment of a core portfolio product and led Putnam’s efforts to incubate a market neutral (hedge) fund.

At Wellington Management Company in Boston, Massachusetts, Fayval Williams performed analysis and issued various recommendations for an expansive range of fixed income securities covering a broad spectrum of commercial enterprises including Transportation, Paper & Forest Products, Cable, Chemicals, Aerospace & Defense, Autos, and Railroad. Her other fixed income responsibilities included the analysis of asset- backed securities (ABS) and commercial mortgage backed securities (CMBS). Assets under her management grew significantly in these securities as a result of the confidence the portfolio managers had in her work.

At Northwestern Mutual Life, in Milwaukee, Wisconsin, Williams’s responsibilities included daily trading of a wide array of various fixed income securities. She also performed analysis of corporate bonds across the credit spectrum (AAA to CCC). In addition, she also had portfolio management responsibilities for approximately US$3 billion. She was a member of the team that provided macro-economic and market input for both the strategic and tactical portfolio decisions.

Media Industry

Fayval Williams, Juliet Holness, Andrew Holness, Ruel Reid

Fayval Williams was the chairman of one of Jamaica’s leading media entity Nationwide News Network. She also hosted a daily financial programme on the radio station called Global Markets.[22] Williams is a co-founder and director of film animation company ReelRock GSW.[23]

Advocacy and community

Fayval Williams is a past president of the Beverly Hills Citizens Association Benevolent Society.[24][25] She is also a past treasurer of the American Women’s Group.[26]

Other activities

Williams is also a member of the Women Business Owners Jamaica Limited group. She participated in a BBC programme with more than 100 organisations in more than 50 countries around the world in the third BBC 100 Women Online International Conversation.[27] She has also served at various levels at the Private Sector Organization of Jamaica (PSOJ) while she was active in the private sector.[28]

Personal Life

Fayval Williams is married to business mogul Leo Williams with whom she has two daughters.

References

  1. ↑ "Fayval Williams earns her seat". jamaica-gleaner.com. Retrieved 2016-03-08.
  2. 1 2 "Tight Government - News". Jamaica Observer. Retrieved 2016-03-08.
  3. ↑ "JLP Appoints Deputy Spokesperson For Finance | RJR News - Jamaican News Online". rjrnewsonline.com. Retrieved 2016-02-29.
  4. 1 2 "Fayval to steer IMF programme". jamaica-gleaner.com. Retrieved 2016-03-08.
  5. ↑ "Opposition names Economic Advisory Council - News". Jamaica Observer. Retrieved 2016-02-29.
  6. ↑ "Aubyn Hill heads JLP economic advisory body". jamaica-gleaner.com. Retrieved 2016-02-29.
  7. ↑ "#DecisionJa2016: JLP’s Fayval Williams wins St Andrew Eastern - News". Jamaica Observer. Retrieved 2016-02-27.
  8. ↑ "Fayval Williams positive about snatching St Andrew Eastern for JLP - News". Jamaica Observer. Retrieved 2016-02-27.
  9. ↑ "Fayval Williams presented as the newly elected Jamaica Labour Party candidate for the St. Andrew Eastern constituency". jamaica-gleaner.com. Retrieved 2016-02-27.
  10. ↑ "PHOTOS: Fayval Williams nominated in Eastern St Andrew". Loop News Jamaica. Retrieved 2016-02-27.
  11. ↑ "Jamaica Observer Limited: Business Awards". www.jamaicaobserver.com. Retrieved 2016-02-27.
  12. ↑ "#DecisionJa2016: Labourites enjoy the showers as Fayval Williams nominated in St Andrew Eastern - News". Jamaica Observer. Retrieved 2016-02-27.
  13. ↑ "Fayval Williams Leaves Kingston Properties | Nationwide 90FM - Jamaica". nationwideradiojm.com. Retrieved 2016-02-27.
  14. ↑ "Kevin Richards To Lead Kingston Properties Ltd. Fayval Williams Resigns.". MoneyMax101. Retrieved 2016-02-27.
  15. ↑ "Fayval Williams resigns from Kingston Properties". Loop News Jamaica. Retrieved 2016-02-27.
  16. ↑ "Williams rings bell on Kingston Properties - Business". Jamaica Observer. Retrieved 2016-02-27.
  17. ↑ "Kingston Properties Limited (KPREIT) - Resignation/Appointment of Executive Director - Jamaica Stock Exchange". Jamaica Stock Exchange. Retrieved 2016-02-27.
  18. ↑ "Jamaica Gleaner Online". old.jamaica-gleaner.com. Retrieved 2016-02-27.
  19. ↑ "JMMB 2005 Annual Reports" (PDF). Jamaica Money Market Brokers. JMMB. Retrieved 2016-02-27.
  20. ↑ "Jamaica Securities Dealer Association -". www.jamaicasecuritiesdealers.com. Retrieved 2016-02-27.
  21. ↑ "Meet the newcomers: Fayval Williams in it for the long haul". jamaica-gleaner.com. Retrieved 2016-02-27.
  22. ↑ "Hughes' Nationwide News Network attracts big investment - News". Jamaica Observer. Retrieved 2016-02-27.
  23. ↑ "About Us". www.gswanimation.com. Retrieved 2016-02-28.
  24. ↑ "Beverly Hills residents fuss over Mona Estates -". Jamaica Observer. Retrieved 2016-02-27.
  25. ↑ "Fayval Williams Writes Mike Henry" (PDF). Beverly Hills Citizens Association Benevolent Society. Retrieved 2016-02-27.
  26. ↑ "American Women's Group gets new board". jamaica-gleaner.com. Retrieved 2016-02-29.
  27. ↑ "Jamaicans participate in BBC100 Women programme". jamaica-gleaner.com. Retrieved 2016-02-29.
  28. ↑ "PSOJ Annual Report 2013" (PDF). Private Sector Organization if Jamaica. PSOJ. Retrieved 2016-03-08.

External links

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