The Government of the Virgin Islands is seeking a qualified individual to fill the following position: Chairperson of the Board of Commissioners of the Financial Services Commission 

About the BVI Financial Services Commission

The BVI Financial Services Commission (the “FSC”) is an autonomous regulatory authority responsible for the regulation, supervision and inspection of all financial services in or from within the BVI.  Regulated activities which are categorised as financial services business includes insurance, banking, fiduciary services, trustee business, company management, investment business, insolvency services, registration of companies, limited partnerships and intellectual property.  The FSC’s mission is to uphold the integrity of the British Virgin Islands as a well-regulated international finance centre and safeguard the economic interests of the Territory.

Role Summary

The Chairperson of the FSC’s Board of Commissioners (the "Board") will play a critical role in steering the FSC towards achieving its strategic objectives.  The role will require the individual to lead the Board of Directors, set the regulatory agenda, oversee the implementation of policies and ensure that the FSC’s activities align with legislative and ethical standards.  The Chairperson may also liaise with government officials, private sector bodies and international regulatory bodies as and when required.

Key Responsibilities

The key responsibilities include but are not limited to:

• Leading the Board of Directors in defining and executing the FSC’s strategic direction and priorities.
• Overseeing the development and implementation of effective regulatory policies and practices.
• Ensuring the FSC operates with the highest level of integrity, transparency, and accountability.
• Fostering strong relationships with stakeholders including government bodies, private sector, and international regulators.
• Representing the FSC at public events, conferences, and media engagements as required.
• Guiding the FSC’s response to market developments and challenges.
• Overseeing the FSC’s budget, ensuring resources are allocated efficiently and effectively

NOTES:

1. Applicants must reside in the British Virgin Islands.
2. Applicants must not be engaged in or connected with a person engaged in financial services business in the Virgin Islands.

Qualifications

Minimum Educational Requirements:

Advanced Degree in field of expertise; finance, law, economics or related field preferred.

Training/Skill/Experience Requirements:

1. Proven leadership experience at a senior level within the financial services industry or a regulatory body.
2. Extensive knowledge of financial services products, and the regulatory landscape.
3. Strong track record of strategic planning and execution.
4. Excellent communication and interpersonal skills, capable of engaging with a variety of stakeholders.
5. Demonstrated ability to navigate complex regulatory issues and make decisions in high-pressure situations.
6. A commitment to public service and the principles of fairness, transparency, and accountability.
7. Strong judgment, integrity and a commitment to upholding the highest ethical standards.
8. Ability to maintain confidentiality.

How to Apply

Interested candidates should submit the following documents:

• A detailed curriculum vitae (CV) highlighting relevant experience and qualifications that includes:

• Biographical information
• Employment history
• Areas of expertise – specialist knowledge
• Educational background/qualifications
• Community involvement
• Previous Board experiences including dates
• Disability status
• Disclosure of any criminal conviction, bankruptcy, or Conflict of Interest

• A cover letter which demonstrates the candidate’s fitness for the Chairperson role and how they can contribute to the FSC’s mission.
• Names and contact information for three references

Applications should be addressed to:

Permanent Secretary

Ministry of Financial Services, Labour, and Trade

Government of the Virgin Islands

Road Town, Tortola VG1110

Virgin Islands

Applications should be delivered electronically to permanentsecretarymfslt@gov.vg with the subject line “Application for Chairperson – FSC”.

For more information or if you have any questions, please contact the Ministry by emailing mfslt@gov.vg or calling (284) 468-2097.

CLOSING DATE: 7th March, 2024