The Government of the Virgin Islands is seeking a qualified individual to fill the following position: Member 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 Board Member of the FSC’s Board of Commissioners (the “Board”), will play a crucial role in shaping the direction and policies of the FSC.  The role will involve working alongside fellow board members to provide strategic guidance, oversee the regulatory framework, and ensuring that the FSC fulfils its mandate effectively and efficiently.  The Board Member will be expected to contribute their expertise to facilitate informed decision-making and to uphold the highest standards of governance and accountability.

Key Responsibilities

The key responsibilities include but are not limited to:

• Participating in board meetings and contributing to the formulation of the FSC’s strategic objectives and policies.
• Overseeing the implementation of the FSC’s strategies and policies and monitoring their effectiveness and impact.
• Ensuring the FSC adheres to legal and ethical standards, and operates with transparency and accountability.
• Offering guidance on financial, regulatory, and operational matters based on expertise and experience.
• Engaging with stakeholders, including government bodies, private sector and the public, to foster constructive relationships and enhance the FSC’s reputation.
• Supporting the FSC’s commitment to promoting financial literacy and consumer protection.
• Reviewing and approving the FSC’s budget and financial reports.

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:

Bachelor’s Degree in field of expertise; finance, law, economics or related field preferred.

Training/Skill/Experience Requirements:

1. Significant experience in the financial services sector, regulatory bodies, or related fields.
2. Deep understanding of financial services products and regulatory frameworks.
3. Demonstrated ability to think strategically and to provide sound advice on complex issues.
4. Strong analytical, decision-making, and leadership skills.
5. Excellent communication and interpersonal skills, with proficiency in engaging with diverse stakeholders.
6. Integrity, professionalism, and a commitment to public service.
7. 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 Board Member – 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