by Charles Gladden
BELIZE CITY, Fri. Aug. 9, 2024
It has been confirmed that Dr. Leroy Almendarez will be the new CEO of the Social Security Board of Belize (SSB). He will be succeeding its current CEO, Deborah Ruiz, who served for four decades at the institution. The vacancy for the post had been posted earlier this year.
Dr. Almendarez has served as Executive Director at the Belize Trade and Investment Development Service (BELTRAIDE) since 2018. He holds a doctorate in Organizational Leadership from Nova Southeastern University, Fort Lauderdale, Florida, and an MBA from the University of the West Indies, Cavehill Campus.
“One of the good things about what I currently do, I could say practically prepared me for what I will be undertaking,” Dr. Almendarez said. “From the things I’ve been hearing, and the fact that the role that it is supposed to play in terms of social protection, many times you hear about certain schemes, and when you look at social security, it’s about the vulnerable, those that you might not normally hear from in the far reaches of this country. We must make sure that they are reached and that we go to them to sell the benefits of participation in the Social Security scheme; and you will find out that the long-term benefits to you and your beneficiaries are things, and when you think about it, those benefits will far exceed the costs,” he added.
Dr. Almendarez explained that he has been shadowing Ruiz in preparation for his role as CEO.
“It is something that we have been doing since I was notified. We set up a schedule, so I know for a fact where we want to go. One of the good things to know is who will be your team members [and] I got to know them, [and] I got to know about, you know, the challenges. We’ll be having an informal meeting again this afternoon. Next week I’ll be in Belmopan again to hear from all the general managers because, like I said, as a team we need to know our vision. Our vision is to build resilience, to address the vulnerable, but ensure that the internal culture within the organization is conducive to allow us to do that,” he said.
The Prime Minister of Belize, Hon. John Briceño, remarked to reporters, “Dr. Leroy Almendarez, who has been at the helm of BELTRAIDE, has been doing a fantastic job; and while I feel sad that we are losing him here at BELTRAIDE, we are happy that he is going to Social Security to continue to manage one of the most important institutions in the country with the largest trust fund.” PM Briceño further mentioned, “He is coming from the private sector and BELTRAIDE to see how we can find ways to invest that large pool of money. We have about a hundred million dollars, and if we can’t invest in it, then we may have to increase contributions, and we don’t want to do that. I am hoping he can come in and help to take Social Security to the next level.”
Dr. Almendarez previously served as the Director General of Foreign Trade under the Ministry of Investment, Trade, and Commerce. He was also Director of Tariffs and Administration at the Belize Public Utilities Commission (PUC) for six years.