JOB SPECIFICATION

JOB TITLE: Director Bank and Trust

DEPARTMENT:                  Banking and Trust

LOCATION:                          Providenciales

JOB SUMMARY

To oversee the work of the Banking and Trust Department in the supervision, regulation and inspection of banking institutions, money transmitters and professional trustees in the TCI. Oversees the conduct of onsite examination reviews of licensed deposit-taking institutions and trusts to ensure that all regulated institutions operate within local and international laws, regulatory standards and best practices, and assist with the detection and prevention of financial crime. Advises the Government and the industry on related matters.

EDUCATION & EXPERIENCE:

• Post Graduate Degree in Finance, Management or other related discipline

• Eight (8) years experience in the supervision of financial institutions or similar regulatory experience with a central monetary authority, central bank or international agency including four (4) years experience at the managerial level

• Professional qualification in Banking (ACIB) plus ten (10) years experience in the supervision of financial institutions or similar regulatory experience with a central monetary authority, central bank or international agency including five (5) years at the managerial level

• Certificate of participation in Regional Training Programmes for senior level Bank Examiners would be an asset.

SPECIFIC KNOWLEDGE REQUIRED:

• Sound knowledge of the Banking Ordinance and Regulations, Trustees Licencing Ordinance, Proceeds of Crime Ordinance, Anti-Money Laundering Regulations, FSC Ordinance, Companies Ordinance, Money Transmitters Ordinance, IFRS and IAS Standards, Basel Core principles on Banking, the

Basel II Accord and other related Ordinances, regulations and international supervisory standards

• Sound knowledge of accounting principles and standards inclusive of the new IFRS, particularly as they relate to recognition and measurement of financial assets and liabilities.

• Sound understanding of the securities, insurance and other non-deposit financial sector and related governing legislations.

• Sound knowledge of international anti-money laundering standards, related local legislations and regulations; as well as requisite supervisory evaluation procedures;

• Sound knowledge of the work of the Basel Committee on Bank Supervision. Including the Basel Core Principles and other international supervisory standards.

• Sound knowledge of auditing and financial management

• Sound knowledge of banking operations and practices and developments in the financial sector

• Basic understanding of IT systems and the use of such technologies in the financial services industry

• Knowledge of economics, business and finance practices

• Working knowledge of asset valuation

• Basic understanding of the banking systems of overseas jurisdictions including Canada, USA and the CARICOM area to inform cross border issues.

SPECIALISED TECHNIQUES/SKILLS:

• Sound managerial and supervisory skills

• Sound conceptual, interrogative, qualitative, quantitative and analytical skills;

• Ability to communicate effectively (both orally and written);

• Reporting skills;

• Human relations;

• Ability to work on own initiative;

• Ability to perform under pressure;
• Ability to work well as part of and effectively lead a team;