Cabinet Secretary Dr Roger Luncheon confirmed that Williams who was appointed to the post in June 2005, died after a long battle with cancer.
Williams had replaced Dolly Singh who acted in the post until her retirement.
At the time of his appointment he said one of the key task ahead would be to ensure that the institutions “we supervise and the elements of the financial systems that are not currently under our supervision, functions effectively and efficiently”.
“In other words, we will improve our supervisory capacity to ensure that we can effectively undertake the supervision entrusted to us.”