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Our Team

The MicroFinance Transparency Board of Directors

Tony Sheldon
New York, USA

Tony Sheldon is Executive Director of the Program on Social Enterprise and Lecturer in Economic Development at the Yale School of Management. Tony also works as an independent consultant; since 1990 he has worked with microfinance institutions in Africa, Asia, Latin America and Eastern Europe, primarily in the areas of financial management and business planning. He has also worked with several networks and funders, including the SEEP Network, the Ford Foundation, the World Bank, CGAP, ShoreBank International, and Women’s World Banking. He was on the faculty of the Boulder Microfinance Training Program from 1997 to 2006 and of Southern New Hampshire University’s Microenterprise Development Institute from 1999 to 2004. He is the author of several publications, including the CGAP “Handbook on Business Planning and Financial Modeling for MFIs” (with Chuck Waterfield), WWB’s “Principles and Practices of Financial Management,” and SEEP’s “Financial Ratio Analysis of MFIs” (with the SEEP Financial Services Working Group).

Azish Filabi 

Legal Group of the Federal Reserve Bank of New York (FRBNY)

New York, United States 

Azish Filabi is an Ethics Officer and Assistant Vice President in the Legal Group of the Federal Reserve Bank of New York (FRBNY).  In her current role, she advises and manages FRBNY bank examiners’ conflicts of interest and compliance with the Code of Conduct. Previously at FRBNY, she worked as a bank regulatory lawyer advising on the Bank Holding Company Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act.  She also worked as a corporate lawyer at the New York City office of Curtis, Mallet-Prevost, Colt & Mosle, LLP.  She currently serves as a Sr. Officer of the New York State Bar Association, International Section, and as co-chair of its Microfinance and Financial Inclusion Committee, a committee she helped create in 2012.  From 2009-2011, Ms. Filabi was Chair of the ACCION USA Microfinance Council, a young professional group that contributes to the sustainability of ACCION East by providing strategic advice and assistance, and advocating for microfinance.

Ms. Filabi has a J.D. from the University of Virginia School of Law, an M.A. in International Affairs from the Johns Hopkins University School of Advanced International Studies (SAIS), and a B.A. as an Echols Scholar from the University of Virginia. Her service as an MFT Board Member is solely in her personal capacity and not as a representative the Federal Reserve System.

Emmanuelle photo

Emmanuelle Javoy
Independent Consultant

Paris, France 

Emmanuelle Javoy is an independent consultant specialized in the analysis of the performance of Microfinance Institutions and Microfinance Investment Vehicles. She has worked for eleven years for Planet Rating, a rating agency specialized in microfinance, as an analyst, Quality Manager and then as its Managing Director for 6 years. Emmanuelle has supervised the production of more than 200 rating reports, which gives her a very deep knowledge of microfinance institutions operations and risk profile. This experience has notably allowed her to contribute to the development of the Smart Campaign Client Protection Certification Standards and led her to work on the creation of the MIMOSA index, which is designed to measure the risk of market saturation and over-indebtedness in microfinance.

Murray Gardiner
Toronto, Canada / Cape Town, South Africa

Murray Gardiner is the Manager of Microfinance and Community Banking at Temenos. Temenos is a multi-national
banking technology company with 700 commercial and 140 commercial microfinance bank clients in over 100 countries that are using the Temenos core banking software. Murray holds a Masters Degree from York University (Toronto Canada) in Cooperative Studies and Business. He has more than 25 years of experience with microfinance and community banking technology services as an entrepreneur, senior executive and manager. He also has direct operational and management experience in microfinance and community banking both advanced and emerging financial markets. Murray is a business and core banking technology expert in microfinance and community banking in emerging markets. He has recent business experience in more than 55 countries in Europe, North America and the emerging markets of Asia, Africa and Latin America.

Chuck Waterfield
Pennsylvania, USA

Chuck Waterfield has 25 years experience in microfinance, with a mixture of practical field experience (six years starting MFIs in both Haiti and Bolivia) and experience leading network strategy development (serving as microenterprise director for both MEDA and for CARE International). He developed Microfin, the most popular financial planning software in the microfinance industry and teaches business planning courses around the world, with more than 3,000 microfinance professionals having been trained in his courses. His current work as an independent consultant includes clients across the industry.

He has formerly been on the faculty of Columbia University School of International and Public Affairs for six years,the Boulder Microfinance Training Program for ten years and Southern New Hampshire University’s Microenterprise Development Institute for eight years. In addition to Microfin, he has a broad range of products and publications including the SEEP FRAME Tool, the CARE Credit and Savings Sourcebook, and CGAP Handbook on Management Information Systems. In 2008, he founded MicroFinance Transparency and works as the CEO.

Board Member Emeritus

Howard Brady
Washington, USA

Howard, a CPA and auditor, is President and CEO of MFI Resources, a microfinance investment fund. He became involved with microfinance in 1994 after six years in public accounting, in which he focused on helping organizations become more efficient and effective. Howard has transferred this experience to his work in the microfinance sector where he’s an expert in identifying efficiencies in MFIs, including benchmarking performance, internal audit and financial projections. He has worked for Global Partnerships and for Unitus, including work on their due diligence team. Howard was a Founding Board Member of MFTransparency, serving on the board for the first six years of its existence, in the role of Treasurer.