Division Chief, Banking and Currency Operations Division

Division Chief, Banking and Currency Operations

The successful candidate will report to the Deputy Governor with responsibility for Financial Markets and Payments Systems, and will be responsible, inter-alia, for:

1. Delivering efficient and effective banking services to commercial customers and the public and the efficient and effective delivery of banking and fiscal agent services to the Government.
2. Identifying and assessing the risks of all the operational processes within the Division and the effective management of risks, ensuring the integrity of operations.
3. As the Bank’s Senior Nominated/Compliance Officer, ensure that the Bank’s AML/CFT/CFP Policy and Procedures are in keeping with anti-money laundering framework and systems contained in local legislation and international standards,  and oversee adherence to the Policy and Procedures to protect the institution’s exposure to reputational risk.
4. The Senior Nominated /Compliance Officer is also responsible to report to the Bank’s Board on the Bank’s compliance with the AML/CFT/ CFP policies and procedures on a quarterly basis.
5. Discharging in the most efficient way, the Bank’s statutory duty to maintain confidence in the local currency, ensuring that the distribution system is adequate, the currency structure appropriate, adequate stocks and superior note quality are maintained.
6. Charting the strategic direction of the Division, coordinating and integrating the activities of the main functions and ensuring that the infrastructure (technology, systems, procedures, etc.) exist to enable the Division to effect its mandate and that the human resource development needs of the Division are consistently met.
7. Overseeing the management and ensuring the required controls for the safe and efficient functioning of the JamClear® systems in Jamaica in alignment with the highest international standards.
8. Overseeing the management of projects for the deployment of new and upgraded systems specifications that are aligned with multilateral agencies recommendations and other stakeholder requirements to facilitate the deepening/development of Jamaica’s financial markets.
9. Representing the Bank in a variety of fora and will be; Chairman of the Bankers’ Sub-Committee; Chairman of the Rules Committee of the Automated Clearing House, Chairman of the Retail Payments Jamaica
10. Interfacing with visiting representatives of commercial lending agencies, donor countries, multilateral institutions, currency manufacturers brokers, fund managers and bankers.
11. Contributing to the overall management of the Bank by participating as a member of the senior management team in the strategic planning and policy decision-making processes of the Bank.
12. Performing any other duties consistent with the nature and function of the job.

QUALIFICATION AND EXPERIENCE

Postgraduate degree in Business Administration, Economics or Finance with a minimum of ten (10) years’ experience in a large financial institution, with at least five (5) years’ experience at the senior management level.

Exposure to banking, currency operations, depository operations and commercial law.

SPECIFIC KNOWLEDGE AND SKILLS REQUIRED

• Authoritative grasp of prevailing monetary policy and the Government of Jamaica’s macro-economic programme/targets.
• Sound understanding of banking, currency depository and trading platform operations and systems.
• Strong orientation towards risk management and the observance of internal controls.
• Sound knowledge of management principles and practices.
• Highly developed planning, decision-making, problem-solving and coordinating skills.
• Superior communication skills in both oral and written form.
• Clarity of thought, superior analytical skills and good judgement.
• Ability to inspire, motivate and provide leadership to staff and to function as a member of the Senior Management team.
• Well-developed ability to take a “macro” approach to the business of the Bank.

WORKING CONDITIONS ASSOCIATED WITH THE JOB

• Works in a modern office environment
• Some work outside of regular hours
• Potential target for criminal attack due to the sensitive nature of the job

Interested persons who meet the above requirements should complete the application form with cover letter and full resume no later than Friday, 25 October 2024.