St Helena Island, South Atlantic

4 years part time appointment available immediately

The St Helena Government is seeking expressions of interest for suitably qualified persons  to bring your specialist skills to an island community, to act as Supervisor of the Financial Services Regulatory Authority and Chair of the Money Laundering Authority of the British Overseas Territories of St Helena, Ascension and Tristan Da Cunha.

St Helena Island is a self-governing overseas territory of the United Kingdom. While the island has long-term aims for self-sufficiency it is currently dependent on UK government aid. In August 2021, Google’s fibre optic Equiano Cable landed on St Helena. Once this goes live, it is expected to greatly enhance digital capacity on St Helena. It is hoped as a result, the next five years will see significant new development in the digital sector, FinTech, company registry, and financial services.

Maintaining confidence in the financial system and promoting public understanding, you will secure protection for consumers and depositors and reduce the use of businesses for purposes connected with financial crime.

You will chair FSRA and the MLRA meetings; the FSRA usually meets four times a year, either by teleconference from London or when you are visiting St Helena. You will ensure relevant actions are taken and, as an advisor to the Governor, submit annual reports, setting out progress and recommendations.

You will be responsible for preparing and delivering the FSRA’s strategic plan, ensuring that you review, taking into account SHG’s sustainable development plans, the functions of the FSRA and design a four-year strategic plan setting out how the FSRA intends to support the island in becoming a centre for financial services and financial technology (FinTech), including developments in block chain technologies.

You will have wide ranging senior level experience of the financial services industry and substantial recent experience in the practical application of regulatory law and associated provisions, probably in the UK. An in-depth knowledge of retail banking and the accounting associated with safe and stable banking operations will be essential, supported by deep understanding of Capital Adequacy, Liquidity management, lending, and all aspects of Operational Risk and its management. You will have an expert understanding on supervision of financial institutions to Financial Action Task Force (FATF) standard. Exceptional candidates will have experience in the regulation of FinTech and Digital-asset exchanges.

Your fee will be negotiated with the St Helena Government. After familiarisation, you must be available to engage with the management and/or Boards of the Regulated entities as necessary. This is usually achieved by regular internet and/or telephone communication.

Sufficient time (at least monthly) will be needed to review, comment upon and follow up reports from the Bank, and at least quarterly from the other businesses. You will give rapid consideration to lending proposals as required.

It is anticipated that between 40 and 60 days per annum will be required whilst ‘off Island’ and you will visit twice per annum. Visits to Ascension Island and Tristan da Cunha are irregular, and as necessary.

How to Apply:

Please submit your expression of interest, including a fully costed proposal and CV to shgukrep@sthelenagov.com or you may contact Kedell Worboys 0203 818 7610. Further information can also be found at https://sthelenapublicservicejobs.sh/

Closing date is 23 May 2022, and interviews will take place in London on 7/8 June 2022.

The Public Service positively accepts applications from all members of the community regardless of race, gender, disability, age, sexual orientation, religion or belief, and will consider all applications on the basis of merit, in accordance with the person specification.

Due to the potential for high numbers of applications, if you have not heard from us within 2 weeks of the closing date you should assume you have not been short listed.  We would like to thank you for your interest in working for St Helena Government.