Invitation For Expression of Interest Board of Commissioners

Invitation For Expression of Interest Board of Commissioners

INVITATION FOR EXPRESSIONS OF INTEREST BOARD OF COMMISSIONERS

DEADLINE TO EXPRESS AN INTEREST – 23 OCTOBER 2023

Her Excellency the Governor Dileeni Daniel-Selvaratnam is seeking expressions of interest from suitably qualified individuals to serve as Commissioners (non-executive directors) on the Board of Commissioners of the Turks and Caicos Islands Financial Services Commission.  Her Excellency the Governor is seeking to appoint up to four Commissioners.

The Commission is an integrated regulator, with responsibility for the regulation of all financial service businesses operating in and/or from the Turks and Caicos Islands, includes authorisation, supervision and enforcement activity.  The Commission’s operational objectives are to protect the integrity of the Turks and Caicos Islands financial services sector, protect consumers from bad conduct and promote effective competition. The Commission is at the forefront of ensuring that the Turks and Caicos Islands financial services operate in an environment where harm is prevented, and positive innovation is supported. 

The Board of Commissioner oversee how the Commission operates, holding the executive to account and is responsible for developing the organisation’s strategic direction. The Board of Commissioners is responsible for establishing the policies of the Commission (regulatory, operational, and administrative), and monitoring implementation of these policies through the Commission’s Executive Management Team.  Additional information on the Commission and its Board can be found at Board of Commissioners | TCIFSC

The Turks and Caicos Island Government’s vision is for a technologically advanced financial services sector that is competitive and supports growth. A key enabler of this is an approach to financial services regulation that is coherent, agile and internationally respected.  Accordingly, this is an opportunity for a wide-ranging and intellectually stimulating role, offering the opportunity to bring positive change and growth in an essential market.

Person Specification

Successful applicants must have the ability to absorb and assess a wide range of information and make balanced and prudent decisions. 

Essential criteria

i) A strategic mindset, excellent judgement, and strong interpersonal and communication skills.

ii) An appreciation of the role played by financial services regulation in growing the economy, enhancing market integrity, and promoting effective outcomes for consumers.

iii) Experience of governance and/or strategic leadership in a significant, complex, or changing organisation.

Desirable criteria

i) Demonstrated relevant and current private sector and commercial experience working within the financial services industry.

ii) An appreciation of how proportionate and flexible regulation can be shaped to be a driver of growth and competitiveness and/or regulatory approaches in other jurisdictions.

iii) Digital markets expertise or demonstrated awareness of the interactions between digital markets and financial services.

Expertise and/or experience in the following areas will be an advantage: 

i) regulatory innovation, fintech and related issues

ii) macroprudential supervision

iii) financial regulation/supervision

iv) financial sector development, with an emphasis on international financial centres

v) cybersecurity and risk management

vi) deposit insurance and capital market development

Preference will be given to candidates not connected to an entity or individual regulated or supervised by the Commission. 

Expressions of interest, accompanied by a resumé or biographical summary highlighting relevant experiences, should be emailed to boardofcommissioners @tcifsc.tc no later than 4:00pm on Monday 23 October 2023 only expressions of interest received in this manner will be considered. Expressions of interest received after the deadline may not be considered in this phase of the selection process but may be placed on file for future reference. 

While we appreciate your interest, only shortlisted candidates will be contacted.