WOCCU Hires Paul Andrews to Lead International Advocacy Efforts

MADISON, Wis.—World Council of Credit Unions (WOCCU) is pleased to announce Paul Andrews as its new Vice President of International Advocacy—putting him in charge of advocating on behalf of the global credit union and financial cooperative movement at the international level.

Andrews brings to WOCCU a vast amount of experience in financial regulations. He’s previously worked for the:

• CFA Institute, where he oversaw its research, advocacy and standards functions.
• International Organization of Securities Commissions (IOSCO), where he revamped the organization’s strategic direction and oversaw the development of numerous global standards, recommendations and principles.
• Financial Industry Regulatory Authority (FINRA), where he directed international engagements and worked closely with key regulators and regulatory bodies worldwide, including IOSCO.
• U.S. Securities and Exchange Commission (SEC), where he worked in the Division of Market Regulation and the Office of the General Counsel.

“If you’re going to effectively advocate on behalf of credit unions at the international level, having relationships with those who set the standards is critical for success. Paul is very familiar with the key international regulatory bodies, and I have every confidence he will continue our strong track record of reducing regulatory burdens for credit unions in the areas of prudential regulation, anti-money laundering, taxation and accounting standards before they arrive at the national level. Ensuring our member credit unions and financial cooperatives face reasonable compliance burdens is key to growing our movement and further expanding financial inclusion,” said Elissa McCarter LaBorde, WOCCU President and CEO.

Andrews will use his experience to lead WOCCU’s advocacy work in front of organizations such as the:

• Basel Committee on Banking Supervision.
• Financial Action Task Force.
• International Accounting Standards Board.
• Financial Stability Board.
• European Union.
• United Nations.
• G20.

In today’s financial regulatory environment, national regulators often have little discretion to deviate from the international standards once they are finalized by those bodies.

"It is imperative that member-owned, financial cooperatives across the world have the ability to grow their financial inclusion efforts and reach more underserved populations without facing undue compliance issues caused by overburdensome regulations. I am pleased to help secure a future where those opportunities exist by leading World Council of Credit Unions’ International Advocacy team and working with our members to ensure they have a strong voice in front of the international standard setting bodies,” said Andrews.

World Council of Credit Unions (WOCCU) is the apex association for credit unions and other global financial cooperatives. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.

World Council has implemented 300+ technical assistance programs in 90 countries. Worldwide, 74,634 credit unions in 104 countries serve 411 million people. Learn more about World Council's impact around the world at www.woccu.org.

Contact: Greg Neumann
Organization: World Council of Credit Unions
E-mail: gneumann@woccu.org
Phone: +1 608-395-2048

Paul Andrews

Elissa McCarter LaBorde

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