Supervisor of FSRA / Chair of Money Laundering Authority
2 years FTC
Your expression of interest is invited to bring your specialist skills to an island community.
A sub-tropical island of spectacular and beautiful landscapes in the South Atlantic with a warm and friendly population of 4,500, St Helena is a self-governing overseas territory of the UK, poised for future transformation with scheduled, commercial air access.
The full remit of this role is Supervisor of the Financial Services Regulatory Authority and Chair of the Money Laundering Authority of the British Overseas Territories of St Helena, Ascension and Tristan Da Cunha.
Maintaining confidence in the financial system and promoting public understanding, you will secure protection for consumers and depositors and reduce the use of businesses for purposes connected with financial crime.
You will chair FSRA and the MLRA meetings; the FSRA usually meets four times a year, either by teleconference from London or when you are visiting St Helena. You will ensure relevant actions are taken and, as an advisor to the Governor, submit annual reports, setting out progress and recommendations.
You will have wide ranging senior level experience of the financial services industry and substantial recent experience in the practical application of regulatory law and associated provisions, probably in the UK. An in-depth knowledge of retail banking and the accounting associated with safe and stable banking operations will be essential, supported by deep understanding of Capital Adequacy, Liquidity management, lending, and all aspects of Operational Risk and its management.
Your fee will be negotiated with the St Helena Government. After familiarisation, you must be available to engage with the management and/or Boards of the Regulated entities as necessary. This is usually achieved by regular internet and/or telephone communication.
Sufficient time (at least monthly) will be needed to review, comment upon and follow up reports from the Bank, and at least quarterly from the other businesses. You will give rapid consideration to lending proposals in order that the FSRA will not object to proposed exposures over £100,000.
It is anticipated that between 30 and 40 days per annum will be required whilst ‘off Island’. Until regular commercial flights commence, you will visit St Helena at least annually; once direct air access is in place you will visit twice per annum. Visits to Ascension Island and Tristan da Cunha are irregular, and as necessary. While access is by ship you will need to allow 3-4 weeks annually for visits to the Islands.
Please submit your expression of interest, including a fully costed proposal and CV by clicking here or you may contact Kedell Worboys on 0203 170 8705.