Chief Finance & Corporate Services Officer

We are seeking an accomplished, highly organized and resourceful leader, to head up our Finance & Corporate Services Function at the JDIC which covers Finance and Investments, Management Information System, Human Resource and Administration and Procurement Management.

If you are open to the challenge for leading this very important combined function (Branch), this is an exciting career opportunity for you, and we invite you to apply. 

About the JDIC:

The Jamaica Deposit Insurance Corporation (JDIC) was created by the Government of Jamaica to protect depositors and promote stability and confidence in Jamaica’s financial system and has a mission to:

• Protect insured deposits against loss due to the non-viability of Deposit Taking Institutions; 
• Provide financial and other assistance in the restructuring/resolution of non-viable Deposit Taking Institutions consistent with the parent legislation for the resolution of financial institutions and other applicable law and standards of best practice;
• Manage the Deposit Insurance Fund consistent with its statutory objects;
• Support the promotion of financial consumer protection and financial inclusion;
• Take such necessary steps to minimize its exposure to loss. 

To execute its Mission, JDIC operates a knowledge management environment which promotes excellence in professional and technical expertise allowing employees to realize their potential.  The JDIC core values of Accountability, Communication, Excellence, Professionalism and Teamwork support the institutional strength of the JDIC and its expert cadre of staff. 

The JDIC is regularly cited for its strong reputation for compliance.  JDIC Officers currently sit on the Executive Council and Committees of the International Association of Deposit Insurers (IADI), including chairing its Audit & Risk Council Committee.

More information on the JDIC and its current fund size can be viewed on their website: https://www.jdic.org

About the Role:

• Provides leadership to the following functional areas: Finance and Investment; Deposit Insurance Fund Management; Management Information System; & Human Resource and Administration which includes property management, records and information management, procurement management.
• Overseeing the implementation of other consumer protection funds (compensation funds) for non-deposit taking financial institutions
• Overseeing financial institution liquidation and asset management accounting and reporting.
• Providing advice and support to the CEO in the promotion, development and execution of the forward-looking policies, strategies and initiatives in support of the Branch and the overall objectives and strategies of Corporation; and
• Overseeing the financial management of the administration of the estates of non-viable financial institutions
• Ensuring that subject matter expert cross-functional support and guidance are provided on behalf of the Branch/Section to achieve the strategic objectives and key initiatives of the Corporation.

Technical/Professional Responsibilities

Financial Management

• Ensure the establishment and maintenance of efficient accounting and financial systems, policies, processes and controls that meet the current and future business requirements of the Corporation and ensure compliance with international accounting standards and governing legislation.
• Ensure that the accounting and financial systems are responsive to changes in the operating environment.
• Ensure the preparation of the 4-year strategic financial direction and Operating and Capital Budgets consistent with the JDIC’s Corporate Planning initiatives and governing legislation.
• Ensure the provision of accurate, transparent and timely financial statements through adequate internal systems and controls, policies and procedures complemented by appropriate risk management.
• Facilitate the JDIC’s internal and external auditing and reporting processes and recommend for approval the Audited Financial Statements.

Deposit Insurance Fund Administration

• Responsible for administration of the Deposit Insurance Fund.
• Promote, recommend, develop and implement such policies, procedures and guidelines for sound investment decision making consistent with the Corporation’s statutory mandate and investment policy.
• Implement initiatives to address recommendations of the Deposit Insurance Fund Adequacy Evaluation exercise.
• Pursue contingency funding arrangements with key stakeholders (i.e. GOJ, multi-laterals and large lending institutions) and ensure arrangements are established, always formalized and accessible.
• Oversee the treasury and investment management function through the COM’s Treasury Management Committee and Board’s Investment Committee.

General Administration

• Contribute to the strategic planning, development and implementation of policy objectives of the Corporation, consistent with sound public administration for the protection of depositors and engendering financial system stability, applicable legislation and best practice standards.
• Participate as a member of the Committee of Management, in development and execution of long-term strategic vision of the Corporation.
• Ensure that relevant policies and procedures are developed, updated and implemented consistent with changes to operating and regulatory environment through policy research and analysis and making of appropriate recommendations.
• Facilitate collaboration with other internal divisions/departments and units as well as such external stakeholders and experts as it is required to achieve the corporate objectives.
• Foster such sufficient and necessary inter-departmental relationships and processes as will allow for the maximum possible cross training and knowledge to assure corporate continuity.
• Provide relevant and timely advice to the CEO on financial and other related matters including but not limited to the structure and staffing of reporting divisions, departments and units.
• As a senior member of the Committee of Management, provide guidance in respect of financial management, fund administration, human resource management and administration and RICT management, and participate in deliberations relating to all functional areas of the Corporation.

About the person:

A)     Qualifications and Experience:

• ACCA qualification or a master’s degree in accounting or finance, or Business Administration with the respective specialization from a certified institution, or other equivalent qualifications
• A minimum of fifteen (15) years’ practical working experience, with at least eight (8) years senior management experience at the Comptroller level and with multi-function leadership experience in a financial management, policy development and strategic planning environment.

B) Specific Knowledge and Skills:

• Demonstrated leadership and management capabilities at the executive level.
• Demonstrated relationship building skills in multifunctional environment.
• Expert knowledge and experience in financial, accounting, treasury and investment management including budgeting and financial reporting and the development of supporting policies and procedures.
• Expert knowledge of the financial sector and the local and overseas investment markets.
• Knowledge of human resource management and administration issues and approaches; policy and practice.
• Understanding of strategic deployment of relevant management information systems;
• Sound knowledge of corporate governance principles and practices.
• Sound knowledge of enterprise risk management and internal controls, disaster preparedness and business continuity management.
• Ability to identify and analyse emerging and complex issues particularly relating to the finance and investment management, exercise sound judgements and make decisions in a rapidly changing environment.
• Proven management capabilities at a senior level with experience managing multiple functions in an organization and KPI management.
• Demonstrated leadership skills, including the ability to command the confidence and respect of the staff and the financial community as well as the necessary technical knowledge and self-assurance to liaise and negotiate effectively with all stakeholders.
• Expert knowledge of the financial services sector regulatory and operating environment in Jamaica and the respective sub-sectors - deposit taking, insurance, securities and pensions.
• Knowledge of trends and practices in the global and domestic financial environment.
• Ability to be flexible and open to changing priorities and challenges
• Communicate effectively both orally and in writing in respect of complex issues.
• Effective negotiating skills

We thank all applicants for their interest, however, only short-listed candidates will be contacted.