Senior Policy Advisor

JOB SUMMARY

This is a management position.  The Senior Policy Advisor (SPA) manages the work of the Policy Unit and reports to the Managing Director.   The SPA and the Policy Unit provides support to the Board, Managing Director, and the regulatory departments in researching, developing, and advising on regulatory policies and practices in the arears regulated and supervised by the Commission.  The office holder is expected to remain current on international developments in regulatory standards and best practices (micro and macroprudential, and AML/CFT).

EDUCATION & EXPERIENCE:

• Graduate/post graduate degree or professional certification in one or more of the following or related fields: Accounting, Finance, Management, Law, Banking, Insurance, or Compliance.
• Five years’ relevant experience in financial regulation, with specific experience in micro and macroprudential supervision, research techniques, and policy formulation.

SPECIFIC KNOWLEDGE REQUIRED:

• Sound knowledge of contemporary regulatory concepts, principles, and methodologies.
• Sound knowledge of risk management techniques and the assessment of risk from a regulatory perspective.
• Working knowledge and experience in credit, liquidity, and interest rate stress testing.
• Strong IT competencies, including in Microsoft Word, Excel, Access and PowerPoint.
• Sound knowledge of statistical and econometric modelling, and regression analysis.
• Sound knowledge of the financial services ordinances and regulations in the TCI.

SPECIALISED TECHNIQUES/SKILLS:

Suitable candidates should have:

• Sound background in financial mathematics, economics or statistics;
• Excellent research skills;
• Sound conceptual, interrogative and analytical skills;
• The ability to interpret and analyse financial statements and economic indicators;
• Strong leadership skills with the ability to build and maintain a successful team. 
• The ability to communicate effectively, both orally and in writing;
• The ability to work on own initiative with minimal supervision;
• The ability to deliver acceptable results while working under pressure;
• The ability to work well as part of a team;

WORKING CONDITIONS:

• Exposure to highly confidential information
• Required to travel occasionally among islands and overseas
• Required to work beyond normal working hours, when necessary, to meet deadlines

JOB DESCRIPTION

REPORTING AND ORGANISATIONAL RELATIONSHIPS

Reports To:                                                    Nature of Supervision Received:

Directly:  

Managing Director

Supervision Given To:                                  Nature of Supervision Given:                        

Directly:

Senior Policy Analyst

Indirectly:

N/A

LIAISES WITH:

Internally:

Various regulatory department staff and the Managing Director

Externally:

• Officers of the Statistical Department and other sections of the Ministry of Finance;  
• Staff and management of licensees;
• · Regional regulators and Central Banks

DUTIES & RESPONSIBILITIES:

The successful candidate will be responsible for, among other things:

1. Collecting, verifying and analysing quantitative and qualitative information on financial indicators and variables such as asset prices, including real estate.

2. Assisting in the development of sectoral forecasting models and analytical frameworks to assess risk and vulnerability.

3. Contributing to the development of analytical tools and methodologies for systemic risk analysis, including financial stability and early warning indicators.

4. Developing and updating forward-looking financial stability models and tools to integrate feedback effects between the real and financial sectors.

5. Conducting periodic system- and sector-level stress testing.

6. Conducting independent research and technical assessments, as directed.

7. Contributing to the preparation of the annual Financial Stability Report and other periodic reports.

8. Assisting in the development of policies and strategies to maintain financial stability.

9. Monitoring best practice recommendations from international standard setting bodies including the Basel Committee, Financial Stability Board, Internal Association of Insurance Supervisors (IAIS), and the International Organisation of Securities Commissions (IOSCO).

10. Analysing the impact of changes in international standards and practices on the jurisdiction’s financial system.

11. Performing other functions relating to the Policy Unit or as assigned by the Managing Director.       

12. Any other duties as assigned.                                                                                                                                         

AUTHORITY TO:

• Access all records and documents (inclusive of confidential information) in the possession of regulatory departments or any officer in supervised institutions.

MAIN PERFORMANCE CRITERIA:

This job is satisfactorily performed when, among other things:

• Relevant databases are maintained and updated.
• Reports and technical assessments are accurately prepared and submitted for review.
• Regulatory departments and other relevant persons are kept abreast of global, regional and domestic financial stability trends, and of supervisory developments in the area of macro-prudential supervision.
• Quality of assessment, research and general output is at agreed standard.
• Deadlines are met.
• Professional work ethics, confidentiality and integrity are maintained.