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Assistant Manager – Market Surveillance Department

Job Description

The Securities Commission of The Bahamas (the Commission) invites applications from qualified Bahamians for the position of Assistant Manager – Market Surveillance Department.

The Assistant Manager is to report to the Manager and is responsible for:

 

  • Assisting in the oversight and monitoring of activities of market participants (registered firms, investment fund administrators, public issuers and financial and corporate service providers).
  • Supporting the Manager by overseeing the Market Surveillance Officers (MSOs) ensuring that: deadlines are met and MSOs are effectively monitoring their portfolios and providing timely updates to weekly and monthly reports.
  • Supporting the Manager regarding the development of policies, rules, and guidelines, as necessary, for observance of international best practices and standards. This also includes assisting in the development of proper risk management systems to assess market participants on an ongoing basis for compliance with solvency and other prudential standards.

 

Principal Responsibilities

  • Develop guidelines to facilitate regulatory compliance
  • Assist in the design and implement of the risk management frameworks to assess registrants’ risk, controls and financial position
  • Implement and maintain programs designed to monitor and evaluate risk and compliance for market participants
  • Design and develop reports to identify market developments and trends through collection of statistical data from market participants (i.e. surveys, questionnaires, etc.)
  • Oversee the review and analysis of interim and audited financial statements and annual reports for compliance with regulatory capital requirements
  • Review and verify reports of material change notification for compliance with laws, regulations, guidelines and best practice
  • Provide guidance on the identification and assessment of issues related to market participants and products and make appropriate recommendations
  • Identify issues and gaps in legislation stemming from surveillance activities
  • Provide support to onsite surveillance in focusing their work program on areas of high risk and weaknesses
  • Assist in the promotion and fostering of an environment of open dialogue amongst colleagues
  • Ability to assist in the orientation, training and coaching of subordinates

 

  • Assist onsite surveillance in focusing their work program on areas of high risk and weaknesses
  • Provide guidance on the proper application and interpretation of laws, rules, regulations and policies
  • Assist in creation of programs that train subordinates and industry regarding compliance with securities laws
  • Assist in the development of systems designed to monitor and detect breaches of securities laws
  • Regular/routine contact with market participants through courtesy call meetings
  • Advise industry on regulatory developments and policies of the Commission
  • Monitor developments in the international securities and capital markets to assess the degree of impact and implications
  • Ability to interpret laws, rules, regulations and policies and make independent decisions
  • Ability to assign and instruct officers in the preparation of reports and papers

 

Knowledge/Skills

The candidate must possess strong communication, analytical, organizational skills, time management and decision making skills. The candidate must also be proficient in the Microsoft office suite and be able to work independently. Additionally, the successful candidate should demonstrate:

  • Strong technical knowledge of the industry and products; including accounting and risk management frameworks
  • Knowledge of financial services legislation (e.g. Securities Industry Act, 2011 and Investment Funds Act, 2003)

 

Qualifications/Experience

  • Bachelor’s/Master’s Degree – Finance, Accounting, Economics, Business Administration, or equivalent
  • Chartered Financial Analyst (Level 1) would be an asset
  • Strong knowledge of capital markets, products, legislation and regulatory environment
  • 5-7 years industry and management experience

 

Compensation and Benefits

  • Competitive salaries and benefits offered.

 

How to Apply

Manager, Human Resources Department
Securities Commission of The Bahamas
Tel: (242) 397-4100 Fax: (242) 326-4802
E-mail: hrm@scb.gov.bs
Deadline for applications: 2 June 2017
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