Head of Banking in Douglas

Our client seeks a Head of Banking to join their team.

Role Profile

This is a senior leadership role responsible for overseeing all aspects of supervision and maintenance/development of the regulatory framework applicable to the Island's banking sector, and other sectors or firms allocated to the team from time to time.

The postholder contributes to the Authority's mandate by leading the effective and efficient prudential and conduct supervision of banks and other entities such as -money and payment services providers and credit unions falling within the Banking Supervision team's remit.

This includes ensuring that robust supervisory controls, processes and engagement are in place, that supervisory activity is risk-based and proportionate, and that the banking supervisory plan is delivered in a prioritised manner alongside demand-led matters and cross-Authority priorities.

The role provides strategic leadership to the Prudential Supervision Division (alongside the Head of Insurance), leads the Banking Supervision team, contributes to the development and maintenance of the Island's banking regulatory framework in line with international standards, and supports the Executive Team in strategy setting, horizon risk scanning and positive cultural leadership.

You will be expected to demonstrate flexibility in the performance of their duties and responsibilities.

From time to time, you may be required to undertake additional duties, projects, or responsibilities that are commensurate with the level of the role.

This may include providing support or cover for other teams, functions or areas to ensure business objectives and operational requirements are met.

Key Responsibilities

• Primary
• Lead the Division's remit pertaining to banking supervision and associated regulatory frameworks.
• Lead the work of the Banking Supervision team, ensuring completion of agreed deliverables and the smooth running of the team in an efficient and prioritised manner.
• Oversee the risk-based prudential and conduct supervision of banks, credit unions and other entities within the Banking Supervision remit.
• Manage and develop a professional team to optimise delivery of supervisory priorities, business-as-usual activity and the divisional plan.
• Banking supervision and risk-based delivery
• Effectively manage staff through leadership, coaching, stretching objectives and meaningful development plans to facilitate a high-performing, engaged and accountable team.
• Lead the implementation and delivery of the Authority's Supervisory Methodology for banking and other applicable entities, ensuring appropriate use of systems, records, governance and quality assurance.
• Formulate, oversee and deliver supervisory plans for banks (and other relevant entities) by firm, sector risk and theme, using a mix of engagement meetings, inspections, thematic work, requests for information, regulatory colleges and other stakeholder dialogue.
• Oversee firm and sector risk assessments for the banking portfolio, ensuring risk assessments are current, evidence-based and supported by appropriate data and supervisory judgement.
• Identify and assess banking-sector risk trends and supervisory themes.
• Oversee the review of regulatory returns and supervisory information, including prudential and lending returns, ICAAPs, recovery plans, annual regulatory returns, statistical returns and other data submitted by banks.
• Ensure that breaches, complaints, notifications and complex supervisory matters are managed in accordance with Authority procedures, including timely escalation and referral for enhanced regulatory action or enforcement where appropriate.
• Ensure the accuracy, validity, completeness, timeliness and consistency of data in Authority systems, and support improvements to data quality, analytics, automation and reporting.
• Banking policy, framework and external engagement
• Contribute to the development, maintenance and enhancement of the banking regulatory and supervisory framework, including legislation, rules, guidance, policies and procedures, to ensure ongoing alignment with relevant international standards and domestic risk priorities.
• Lead or oversee banking-related policy workstreams where relevant including supervisory data, reporting, regulatory perimeter and international standards-related initiatives.
• Develop and maintain effective relationships with banks, the Isle of Man Bankers' Association, the Ombudsman, other Government Departments, other regulators and international bodies.
• Represent the Authority in relevant banking-sector meetings, regulatory colleges, industry outreach and domestic or international working groups, ensuring clear, constructive and appropriately challenging engagement.
• Act as the representative for banking supervision for the purpose of its mandate pertaining to banking resolution at the Authority.
• Produce papers and reports on banking supervisory matters and present periodic updates to the Executive, the Board and other governance fora as required.
• General and Executive responsibilities
• Apply appropriate oversight and governance, including monitoring, reporting and communication, to support delivery of the Banking Supervision plans and the wider Authority's Supervision Divisions objectives.
• Ensure that cross-divisional collaboration takes place within the Prudential Supervision Division and across the organisation.
• Support communications, outreach and media opportunities as required to provide clear, timely and relevant information to the Authority's key audiences.
• Contribute actively to Authority strategy setting, risk horizon scanning and the development of a positive, inclusive and high-performance culture.
• Embrace and support a risk-based approach across the Authority, including ongoing triage of work efforts and resources to complete the highest priorities.
• Act as a change agent by actively supporting improvements, automation and smarter working across the Authority and within Supervision.
• Collaborate with other senior executives to implement strategic priorities, divisional work plans and cross-Authority projects, including AML/CFT effectiveness, records management and technology-enabled change.
• Suggest and implement the wider use of metrics, divisional plans and quantitative KPIs to support reporting to internal and external stakeholders.
• Undertake the role of Information Asset Owner for the Banking Supervision function and across the wider Authority where required.
• Comply with the Staff Handbook and other operational policy and procedures issued by the Authority, and carry out any other duties required by the Chief Executive or Board.
• Key Skills and Experience
• Hold a professional qualification relevant to the financial services industry. Essential. Evidence of continuing professional development (CPD). Essential.
• Hold a relevant management qualification (ILM or CMI Level 7 or equivalent). Desirable.
• Extensive relevant industry experience in an operational, banking, compliance, risk, regulatory or audit/accounting role. Essential.
• Extensive experience in a strategic leadership/ management role with the ability to work in a
• Proven experience working for a financial services regulator, ideally in a supervisory role. Desirable.
• Extensive working knowledge of the Banking sector and associated legislation, regulation and guidance and understanding of the broader finance industry including trends and developments.

Essential.

• Proven leadership skills providing support, mentoring and coaching that inspires and motivates all team members to reach their full potential. Essential.
• Demonstrates excellent interpersonal, verbal and written communication skills.

Essential Strong analytical skills, a flexible attitude and the ability to quickly and accurately assimilate information, to consider any associated risks and to summarise the information effectively.

Essential.

• Be alert to emerging issues or trends which might impact upon or benefit strategic plans and be able adjust in response to change. Essential.
• Ability to work under pressure, manage/oversee individual and team workloads of varied complexity, to manage competing priorities and to deliver against deadlines. Essential
• Demonstrates strategic thinking and the ability to plan, work and make decisions accordingly. Essential.
• Quote job ref: 16806
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