Head of Division
Reporting to the Chief Legal Affairs, Enforcement, AML/CFT Officer (“Chief LEA Officer”), the Head of the Financial Stability and Statistics Division (“HOD”) (in conjunction with the Heads and Deputy Heads of the regulatory Divisions and the Policy and Development Division) will plan, direct and delegate actions, projects and work assignments in leading the development and implementation of a comprehensive macro prudential and crisis management framework in accordance with international standards for financial statistics for international dissemination and local statistical organisations relevant to the Cayman Islands and to the Region.
RESPONSIBILITIES:
The successful candidate will:
- Oversees and directs the process to systematically disseminate accurate and relevant information, including statistics, appropriate papers, presentations and risk reports;
- Establishes and oversees the effectiveness, efficiency, completeness, accuracy, and integrity of statistical data collection systems in accordance with sound data governance principles;
- Ensures the development, implementation and maintenance of effective Macro Prudential guidance and procedure manuals;
- Recommends relevant policy and risk mitigation measures on the resilience of the financial system to internal and external financial regulators, policy makers and other stakeholders;
- Establishes and monitors an effective crisis management framework;
- Supports the Regulatory Heads of Divisions’ in reviewing and updating the methodology for the identification and supervision of systemically important financial institutions;
- Assists the Regulatory Divisions with the development of macro-prudential stress testing methodology and its effective implementation as appropriate;
- Conducts a review to identify the risks and appropriate mitigants associated with shadow banking in the local financial sector;
- Assists in the development of a strategy and supervisory framework for payments and settlement systems;
- Assists the Regulatory Divisions with the preparation for external reviews to be carried out by external bodies such as the CFATF and the IMF (FSAP), including ensuring appropriate compilation and reporting of financial statistical information; and
- Establishes and implements the framework and processes to research, analyse and actively monitor financial system soundness indicators and interconnectedness to detect trends and early warning signs of risks, sources of systemic vulnerability, distress or imbalances in the financial system.
REQUIREMENTS:
- A Master’s degree from an accredited institution in Economics, Finance, Statistics, Administration, Accounting or Risk Management; and ten years relevant experience at a senior management position with a financial sector regulator or an international standard setting body such as the IMF or World Bank;
- A relevant professional qualification such as CPA, CA or CFA would be an asset;
- Strong knowledge in statistics and associated statistical methodologies;
- Expert knowledge of Financial Stability and Macro Prudential Supervision;
- Extensive experience in the development and conduct of financial sector stress testing;
- Extensive knowledge of Regulatory Framework – Legislation/Policies relating to the supervision of financial institutions;
- Extensive experience in assessing supervisory approaches and regulatory framework for compliance with international standards;
- Knowledge of Anti-Money Laundering/KYC requirements and the application of same;
- Proven ability to lead and manage multi-disciplined teams, delivering outputs in adherence to established timeframes;
- Excellent writing, communication and presentation skills; and
- Proficiency in reporting software and data visualization platforms such as PowerBI and SSRS, and Microsoft Office applications.
Direct applicants only. Applications received from agencies will not be accepted at this time.
(Only shortlisted candidates will be notified)
Application for Employment
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