RBS Advisor

Risk Based Supervision Advisor

JOB SUMMARY

This is a technical senior position with the responsibility for the organisation and coordination of the work of a risk-based supervision working group with cross-departmental responsibilities to develop and implement a risk-based supervision framework across the Commission. The incumbent will also be responsible for the application of the RBS framework in the risk assessment and examination of assigned licensees within the Bank and Trust Department. A summary of the position’s responsibilities include:

i)                Lead, organize, and coordinate the work of the risk-based supervision working group in the achievement of the group’s terms of reference and activities in the Commission’s transition to RBS. These activities would include:

1. Closely work with the RBS steering committee, liaise with relevant managers and consultants and make necessary presentations to the Commission’s board and senior management on the work of the RBS working Group and the RBS Strategy progress.
2. Reviewing, assessing and providing feedback on the work of staff assigned to the working group for quality of content, completeness and accuracy, having regard to the work of the working group.
3. Monitoring the Commission’s progress in transitioning to the RBS.
4. Providing support and training to staff, in the application of the RBS framework, particularly as it relates to risk assessments and on-site examinations.

ii)              Apply the Commission’s risk-based supervisory framework in the supervision, examination and risk assessment of assigned financial institutions (which may include banks, investment companies and/or trust companies).

(Please see details under the duties and responsibilities section)

EDUCATION / TRAININGS

i) Master’s degree in accounting/finance/economics.

or

ii) Bachelor’s degree plus a professional certification (such as Financial Risk Manager (FRM), Certified Financial Analyst (CFA) or Certified Chartered Accountant – ACCA, CPA); or other relevant or comparable professional qualifications/certifications.

and

iii) Training in Risk Based Supervision, regulation and supervision of the financial sector facilitated by recognised regulatory bodies/agencies.

 EXPERIENCE/COMPETENCE:

At least seven years working experience as a financial sector regulator, with experience in following areas:

i)   At least three years supervising, coaching, and managing other regulatory/supervisory Analysts.

ii)  Applying a risk-based supervision methodology in monitoring and supervising financial institutions.

iii) Supervising and regulating financial institutions to ensure compliance with regulatory guidelines, international regulatory standards, and financial sector regulation/legislation.

iv)  Assessing financial institutions’ corporate governance and risk management structures to determine adequacy tomitigate the risks (Credit, Operational, Market, Strategic, Compliance, etc), given the scope, size and complexity ofthe entity.

v)  Assessing credit risk and market risk analysis in determining risk exposure to financial investment/security and loan portfolios products.

vi) Assessing the macroeconomic environment in determining the possible impact on financial instruments, products, services and risk profiles of financial institutions.

vii) Assessing financial institutions' financial viability, with specific emphasis on capital, liquidity, and earning capacity.

viii) Analysing financial institution’s financial statements and financial data and regulatory prudential returns, to determine viability, strength and impact on the financial sector’s stability.

ix) Leading in the conduct of risk based onsite examinations at financial institutions, assessing areas such as, financial risks, corporate governance, and money laundering and financing of terrorism risk.

x) Contributing to the development of policies, guidelines, and guidance for financial institutions, specifically where it relates to risk assessment based on international regulatory standards.

SPECIFIC KNOWLEDGE REQUIRED:

i) Sound knowledge of Financial Sector Laws and Regulations, Anti-Money Laundering and Terrorist Financing Laws and Regulations, and Companies Law.

ii) Sound knowledge of accounting principles and standards (IFRSs and IASs), inclusive of the new IFRSs, particularly as they relate to recognition and measurement of financial assets, liabilities and instruments.

iii) Sound knowledge of risk assessment and risk management.

iv) Sound knowledge of business, finance practices and financial management.

v) Working knowledge of economics and auditing.

vi) Sound knowledge of financial institutions’ operations and practices, and general developments in the financial sector.

vii) Working knowledge of the International Organization of Securities Commissions (IOSCO) Standards, Basel Core Principles for Bank Supervision, the Insurance Core Principles, the Financial Action Task Force (FATF) Recommendations and Standards, and other financial sector international regulatory and supervisory standards.

viii) Working understanding of IT systems and the use of such technologies in the financial services industry.

ix) Knowledge and understanding in the supervision and regulation of financial institutions.

SPECIALISED TECHNIQUES/SKILLS:

i)                Strong critical thinking, conceptual, interrogative, and analytical skills.

ii)              Strong financial analytical skills to read and interpret financial data, financial statements and economic indicators to identify risk trend.

iii)             Strong report writing skills to be able to produce critical and technical reports for internal and external users and publication.

iv)             Strong oral communication skills to conduct meetings and communicate effectively with internal and external stakeholders.

v)              Strongly skilled at reviewing policy proposals and providing critical feedback.

vi)             Strong leadership qualities to effectively work independently, plan, manage and organise the working group, contribute to strategic decisions, make recommendations and question proposals and/or the status quo.

vii)            Ability to perform under pressure.

viii)          Ability to work well as part of a team, and to lead a team. Ability to contribute to the objectives/goals of the larger teams.

ix)             Ability to operate computers using applications such as the Microsoft Office Suite, particularly Microsoft Excel.

WORKING CONDITIONS:

i)                Required to meet tight deadlines.

ii)              Required to work beyond normal working hours, when necessary.

iii)             Travel to regulated institutions to conduct reviews, examinations or attend meetings.

iv)             International travels for training, meetings, and conferences.

JOB DESCRIPTION

REPORTING AND ORGANIZATIONAL RELATIONSHIPS

Reports To:                             Nature of Supervision Received: General Guidance and /or instructive.

Directly:  

Director, Bank and Trust                                   

RBS Steering Committee

Supervision Given To:                         Nature of Supervision Given: Instructive/Coaching/Mentoring

Directly:

Analysts assigned to the RBS Working Group

Indirectly:

Other junior officers in the Bank and Trust Department

LIAISES WITH:

Internally:

i)                Consultant(s) on the RBS Transition project

ii)              Directors of the other departments

Externally:

i)                Relevant licensees/supervisees

ii)              International and Regional Regulators and Central Banks

DUTIES & RESPONSIBILITIES:

RBS Working Group

1. Organize and coordinate the work of and lead the Commission’s risk-based supervision working group to transition to RBS across sectors, based on the Group’s terms of reference, guidance from the RBS Steering Committee (RSC) and the RBS strategy.
2. Liaise with the Commission’s RSC and the consultant(s) on the RBS transition project.
3. Assist with the monitoring of the progress of the Commission’s RBS transition.
4. Assist with the review and development of policies, guidelines, guidance, filing returns and forms to supplement the requirements under the Commisssion’s RBS Supervisory Framework, whether currently in place or subsequently developed.

1. Receive, review, assess and provide feedback on the work of staff assigned to the working group for quality of content, completeness and accuracy, having regard to the work of the working group.
   1. Perform administrative tasks such as: coordinate and liaise with the HRD on logistics for the consultant visits, and coordinate with the RBS Steering Committee on training and meetings.
   2. Liaise and assist with training and support with the other regulatory departments, (as may be necessary), to assess and ensure consistency in the application of the RBS Framework.
   3. Maintain clear record electronically and manually, where necessary, on work done. 
   4. Prepare and present monthly project report to the RBS Steering Committee
   5. Perform related tasks as maybe necessary for the success of the transition to RBS.

Within the Bank and Trust Department

1. Apply the Commission’s risk based supervisory framework in the supervision of assigned entities, which should entail: the preparation of the RAD (risk assessment documentation), assessing risks and making recommendations on the stage rating and necessary supervisory intervention. The risk-based supervision process, include, but not limited:

i)                Conduct of relevant research to be able to assess the macroeconomic environmental factors, both local and globally, impact on assigned entities/sector.

ii)              Conduct of industry/sector analysis to determine the impact of any changes that could affect the licensee and to determine how the licensee performs relative to its peers.

iii)             Maintenance of up-to-date profiles on assigned licensees, that is, gather sufficient information and keep information current to ensure the knowledge of business profile is current.

iv)             Assess licensee operation to determine significant activities and inherent risks.

v)              Assess the quality of assigned entities’ risk management to determine its adequacy in mitigating risks and meeting local, regional and international standards in exercising good corporate governance practices.

vi)             Prepare annual supervisory letters and the annual supervisory plan for assigned entities.

1. Lead and/or assist with on-site examinations of financial institutions based on the result of the risk assessment under the RBS Framework.  This involves:

i)               Preparation of the onsite examination plan/scope for review.

ii)              Conducting the necessary pre on-site assessments of the institution based on the scope of the examination, which may include assessment of the licensee’s significant activities, risk management framework, capital adequacy, asset quality, earnings quality, liquidity, market risk sensitivities, IT systems framework and overall corporate governance, utilising risk focused examination techniques as necessary, to determine the need for additional documentation or changes to the scope and focus of the examination.

iii)             Planning, organising, and managing the examination process, which includes preparing pre-examination letters to the licensee, organising and conducting meetings, assigning tasks and reviewing working papers.

iv)             Conducting or participating in the examination process including, obtaining evidence based on the examination scope - through the examination of records, board minutes and other documents - to determine compliance/non-compliance with internal policies and procedures and relevant laws, regulations, and supervisory standards (best practices), and to ascertain the effectiveness of the risk management process and policies of the entity.

v)         Collating examination findings and drafting the examination reports that highlight risks, trends and issues, and presenting recommendations and conclusions to the Director and/or Deputy Director.

vi)        Compiling and filing on-site examination working papers, evidence and supporting documentation, in an easy to retrieve manner.

vii)           Complete post-examination remediation and follow-up.

General

1. Keep abreast of relevant economic and political events (both locally and internationally), in order to properly assess risks and update the risk assessment document (RAD).
2. Perform related duties as assigned by the Director of the Bank and Trust Department, or as may be required for the Commission’s effective transition to RBS.

AUTHORITY TO:

• Have access to all required records and documents across departments (inclusive of confidential information) to effectively carry out duties.

PERFORMANCE CRITERIA:

This job is satisfactorily performed when:

i)                The working group is effectively managed and supervised, meeting targets.

ii)              Contribution to and preparation of policies, procedures, manuals and/or guidelines must be relevant and of high quality, demonstrating an understanding of regulatory and supervisory matters.

iii)             Design of relevant forms, templates and returns are user friendly and relevant.

iv)             Recommendations are useful that effect improvements.

v)              Reports, letters, memos, position papers are drafted and finalised within given timelines and of a high quality, requiring minimum changes.

vi)             Minutes of meetings attended accurately represent proceedings, file notes are maintained and easily retrievable.

vii)            The risk assessments are appropriately documented and kept updated, effectively identifying and assessing the risks in assigned licensees, with off-site risk assessments and on-site examinations being completed as scheduled and reports completed and transmitted within the set deadlines.

viii)          Reports and other communications reflect knowledge and understanding of the level of the risks in the assigned licensees/sectors.

ix)             Professional work ethics, confidentiality and integrity are maintained.

x)              Analyses are relevant, clear, concise, informative and reflect an understanding of the issues, threats and risks.

xi)             Organisation, leadership and strategic thinking are consistently demonstrated.

xii)            Diligence and care in the performance of assignments are evident.

xiii)          Relevant tasks are performed and/or undertaken at own initiative.

xiv)          Staff assessment and feedback are relevant and useful to effect improvement in performance.

 All work produced are of a professional quality and meets the bank and trust department’s Performance Standards, and those set for the working group.

APPLICATION DEADLINE: 12TH JUNE 2026