Funds
Supervision Manager

Job Title: Supervision Manager - Funds

Reports to: Senior Manager – Funds

Salary Band: 5/6 (£34,687 - £49,402 / £45,528 - £64,509)

PURPOSE OF JOB:

Assist the Funds Supervision team with regard to the development and implementation of legislation, policies and procedures which ensure compliance by regulated entities, with appropriate prudential and conduct of business standards, having regard to the relevant international standard setting bodies so as to ensure that:

(a) the Island’s reputation as an international finance centre is safeguarded;

(b) customers are properly protected.

PRINCIPAL ACCOUNTABILITIES:

(1) Participate in the on site examination schedule either as leader or co-ordinator or participant as required, including interviewing key members of staff employed by regulated entities, conducting file reviews, reviewing documentation, systems and controls and participating in opening and closing meetings.

(2) Handle pre-examination work including the detailed planning of examinations.

(3) Write examination reports, recommend courses of action in those instances where non-compliance has been discovered and collate files documenting evidence to support findings.

(4) Complete post examination work including updating risk assessments.

(5) Deal with major issues arising in connection with regulated entities, which require enhanced risk mitigation including preparation of appropriate documentation and liaising with enforcement division where necessary.

(6) Responsible for the day to day supervision of a portfolio of regulated entities – including but not limited to on-site and off-site supervision, liaising with the entity and other Commission staff including lead regulator and other divisional regulators as required.

(7) Perform, where appropriate, full ad hoc investigations as directed, report formally all findings, conclusions and recommendations.

(8) Take responsibility for ad hoc projects such as reviewing internal procedures, documentation and systems and recommending amendments.

(9) Participate in meetings with regulated entities as required.

(10) Review financial statements submitted by regulated entities.

(11) Complete or update risk ratings in respect of regulated entities.

(12) Review and comment on proposed legislative changes. Liaise with legal and policy division where necessary.

(13) Participate in the updating of legislation and codes of practice.

(14) Participate in training of new members of the Fund Supervision team.

(15) Participate actively in developing the Commission’s profile as appropriate by public speaking.

(16) Assist in other work as directed by the Deputy Director/ Senior Manager.

KNOWLEDGE AND EXPERIENCE REQUIRED

The post holder will be expected to be educated to graduate level or equivalent and preferably hold either a professional qualification such as ACIS, ACIB or ACCA, or an IFF recognised technical qualification that has been formally assessed at Diploma level.

In addition, the post holder would be expected to possess a strong financial services background and have a thorough understanding and practical experience of formal compliance processes.

Highly developed analytical and communication skills are essential. The post holder would be expected to demonstrate strong project management skills and must have a proven track record in delivering results against tight deadlines.

Proven communication skills are essential, both written and verbal. The post holder must have the ability to relate well with a wide range of persons, both internally and externally.

The use of Microsoft Office and relevant desktop applications are necessary for efficient working.

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