Career Opportunity: Deputy Director, Payments Oversight, Bank Supervision Department

The Central Bank of Barbados is seeking to fill a post of Deputy Director, Payments Oversight in its Bank Supervision Department.

Job Summary

To provide leadership and managerial support to ensure the effective supervision and regulation of entities licensed under the Financial Institutions Act 1996-16; National Payments Systems Act 2021-1; and any other relevant legislation.

Key Duties and Responsibilities

The duties and responsibilities will include:

• Monitoring, reviewing, and assessing the impact and effectiveness of the framework for the licensing, supervision and regulation of financial institutions and other licensees in line with best practice and international regulatory standards
• Leading the policy-based research on emerging regulatory issues and recommending and implementing enhancements to the legislative and supervisory framework
• Co-ordinating and ensuring the efficient execution of the department’s risk-based supervisory programmes by approving supervisory strategies, reviewing the operations and performance of licensees, and overseeing the work of departmental staff
• Assessing compliance with the requirements of relevant legislation and prudential guidelines, providing advice to the Director on enforcement actions, where applicable, and ensuring that licensees implement corrective actions within established timelines
• Fostering effective working relationships with domestic and international financial sector regulators while keeping abreast of new and emerging standards in financial sector supervision, new products and technologies
• Assisting in the management and monitoring of the department’s performance, strengthening operational efficiency, and the nurturing and motivation of staff in alignment with the Bank’s strategic objectives
• Contributing to team effort by accomplishing any other related duties as assigned

Relationships

Maintain effective relationships with the Senior Management, departmental heads, staff, and external stakeholders.

Education/Experience

• A Master’s degree in Finance, Banking, or a related discipline or an advanced professional banking qualification, and five (5) years’ managerial experience in the regulation of financial institutions or other relevant financial entities

              or

• A Bachelor’s degree in Finance, Banking, or a related discipline or an advanced professional banking qualification and seven (7) years’ managerial experience in the regulation of financial institutions or other relevant financial entities

Competencies

• Proven leadership skills, particularly skills at influencing, leading, and supporting organisational change
• Sound understanding of the Financial Institutions Act 1996-16, National Payments Systems Act 2021-1, and other relevant financial services legislation
• Excellent administrative and organisational skills
• Good stakeholder management skills, excellent team player, and strong collaboration and interpersonal skills
• Highly effective and proactive in both oral and written communications
• Critical thinker with problem-solving skills and a results-driven orientation

Timeline for Submission of Applications

Interested persons should submit their job application and curriculum vitae to the Senior Director, Human Resources department, at email address hrapplications@centralbank.org.bb  no later than April 5, 2024.