The BVI Financial Services Commission (“the Commission”) is seeking a highly motivated professional to join its Authorisation and Supervision Division’s Specialised Supervision Unit in the role of Senior Regulator, Specialised Supervision (Virtual Asset Service Providers).  

The Commission has a risk-based approach to the regulation and supervision of its licensees. The Specialised Supervision Unit's function is to monitor and supervise regulated entities and persons with a higher level of risk and systemically important financial institutions. This Unit is responsible for undertaking proactive and enhanced supervision of these entities. 

Candidates must adhere to the Commission’s service standards and strict requirements for confidentiality, demonstrate an ability to prioritise and manage competing priorities while maintaining keen attention to details and accuracy in the quality of work produced. Candidates will be evaluated based on the criteria below and will be required to complete assessments as part of the interview process. 

Duties and Responsibilities: 

Data Analysis:            

Managing the collection, analysis and maintenance of relevant prudential and AML/CFT/CPF  data to enable the Commission to:

• Track risk profiles of all registered VASPs, which includes counterparty risks, operational risks, cybersecurity risks, liquidity risks, and other compliance risks which encompasses risks of ML/TF/PF;
• Understand regulatory and supervision trends impacting virtual assets and distributed ledger technology, as well as the transfer and custody properties of virtual assets;
• Enhance the Commission’s understanding of the supervisory risks associated with VASPs, their impact to the Jurisdiction and make recommendations to improve the regulatory and supervisory regime as necessary;
• Actively monitor and manage the regulatory and supervisory risks exposure of the Virgin Islands posed by VASPs;
• Review and analyse audited financial statements, prudential and other regulatory reports submitted by VASPs and provide recommendations for supervisory engagements as may be necessary; and
• Ensure collation and analysis of data from audited financial statements, prudential and other regulatory reports submitted by VASPs for submission to international standard setting bodies for the purpose of conducting assessments/evaluations of the Virgin Islands as may be necessary. 

Policy and Standards Monitoring

• Assist in developing and enhancing supervision and regulation related policies, procedures and guidance for registered VASPs;
• Assist in developing and enhancing the Commission’s supervision and regulation supervisory policy;
• Keeping current with reforms related to the international standards for financial services regulation and supervision, and participating in the reform process to periodically update the legislative framework for VASPs as necessary; and
• Engage with the private sector to enhance awareness of supervisory expectation, emerging and regulatory risks, trends and patterns relating to VASPs;
• Assist with ensuring ongoing compliance with international standards related to supervision and regulation (IOSCO, Basel, GIFSCs, GIICS, IAIS, FSB, FATF and CFATF) and where relevant make recommendations as to how these standards are to be implemented in the BVI regulatory regime; and
• Assisting relevant Divisions/Units in implementing all recommendations emanating from external and internal reviews. 

General Duties

• Conduct ongoing supervision and monitoring of registered VASPs by applying the Commission’s Risk Assessment Framework;
• Conduct risk assessments and develop risk based supervisory plans for registered VASPs;
• Ensure that risk assessments and supervisory plans of registered VASPs are kept current;
• Ensure that supervisory service standards are met;
• Assess and analysis of relevant prudential data such as returns, audited financial statements, compliance officer reports and based on findings make recommendations related to data needs;;
• Provide opinion/comment on matters relating to the development of the regulatory environment – new legislation, amendments to legislation, regulations, codes and policy guidelines and practices;
• Supervise and review the activities/work of other regulators and administrative staff as assigned including performance assessments;
• Review and assess complex applications where required;
• Partcipate in and assist in the inspection process of VASPs;
• Ensure relevant licensees implement recommended actions from Inspection Reports including taking steps to verify implementation;
• Use established frameworks such as risk framework and inspection process to assess, monitor and report (oral and written) on compliance performance of entities and the overall compliance of sectors;
• Identify trends and emerging practices from desk based supervisory model and report findings and recommendations;
• Assist in providing regulatory oversight training for best practices in prudential and aml supervision of VASPS.
• Analyse complaints or contraventions against statutory requirements and prepare appropriate letters, memoranda, decision papers for submission to the statutory committees;
• Write/prepare/present papers for matters to be considered by the statutory committees and FSC Board;
• Interact with jurisdictional and internal peers including respond to queries from overseas regulators, the industry and other personnel on all aspects of financial services; and
• Undertake ad-hoc projects and tasks as assigned. 

Qualifications/Knowledge and Experience Required 

The minimum qualifications required to successfully perform the job are as follows:

• Bachelor's degree with a background in business, finance or accounting, law enforcement or other relevant area or equivalent with 7 years of relevant experience in the financial services or relevant industry; or
• Associates degree background in business, finance or accounting, law enforcement or other relevant area or equivalent qualification with 10 years of relevant experience in the financial services or relevant industry; and
• Master's degree with a background in business, finance, or accounting, or other relevant area would be an advantage;
• Professional Qualifications required: VASP qualifications/certifications
• Anti-Money Laundering and / or Fraud Prevention & Detection qualification would be an advantage;

• Strong oral, written and presentation communication skills;
• Proficiency in Microsoft Office Word, Outlook, Excel, and PowerPoint;
• Detailed knowledge of the BVI’s financial services laws and regulatory framework;
• Ability and willingness to make presentations to senior colleagues, committees, industry bodies and practitioners;
• Ability to read, analyse, and interpret business and company documents and basic financial records;
• Knowledge of auditing and accounting principles would be an advantage;
• Ability to develop investigative plans and implement or direct the implementation of the plans;
• Ability to lead investigative teams and work cooperatively in a team with a variety of individuals;
• Ability to carry a large caseload whilst simultaneously managing the progress of case investigations undertaken by junior personnel;
• Ability to lead, manage, direct and conduct investigations of complex cases which involve breaches of financial services legislation;
• Ability to conduct effective interviews with witnesses and the subjects of enforcement investigations;
• When required to do so, provide witness statements or affidavits which may be required in evidence in cases involving the Commission and to appear as a witness in Court or other proceedings, at all times acting to a high professional standard;
• Ability to prepare clear and concise written reports and detailed and analytical reports as and when required; and
• Present a professional image of the Commission at all times.

COMPETENCIES 

• Professionalism
  – complies with Commission’s code of conduct, acts with integrity and shows respect;
• Quality of Work
  – consistently produces work that is thorough, accurate, relevant, timely, and in accordance with Commission’s policies, procedures and best practices;
• Communication
  – effectively, professionally and comprehensively communicates, both orally and in writing, with colleagues, vendors, and managers.
• Team Success
  - is a cooperative, helpful, and constructive member of the team who willingly shares opinions and ideas and makes suggestions on how to improve processes and service;
• Time Management
  - effectively plans, coordinates, and seeks the most efficient methods to schedule, prioritize, and complete assignments within deadlines;
• Customer Excellence
  - builds positive relationships with internal and external customers by determining their specific needs and responding in a timely, professional and courteous manner;

• Continuous Improvement
  – constantly learning and developing skills and identifying and embracing changes to improve processes and practices within the organization; and
• Confidentiality
  – protects and does not disclose any information relating to the affairs of the Commission to any unauthorized persons in or outside of the Commission, at all times.  

Notice: Applicants must upload all required documentation through BambooHR using the link in this advert. Please do not submit hard-copies or email unless directed to do so. Only short-listed candidates will be contacted. 

Application Direction

Applicants must submit the following: 

• Cover letter indicating the position being applied for;
• Resume;
• Two (2) professional reference letters;
• One (1) personal reference letter;
• Certified copies of identification; and 
• Certified copies of academic certification and or diplomas 

Notice: Applicants must upload all required documentation through BambooHR using the link in this advert. Please do not submit hard-copies unless directed to do so. Only potential candidates will be contacted. 

Disclaimer

This job description is meant to describe the general nature and level of work required for the position advertised. It is not intended to be construed as an exhaustive list of all responsibilities, duties and skills required . The successful candidate will be required to follow any other job-related instructions and to perform other job-related duties as requested. 

Closing Date: 12 May 2025