Role Profile
About us
We supervise the island's financial services businesses - including financial institutions, designated non-financial businesses and professions and virtual asset service providers for anti-money laundering (AML), countering of the financing of terrorism (CFT) and countering proliferation financing (CPF) purposes. We also regulate financial services for conduct and prudential purposes. The JFSC is one of the few regulators globally to benefit from the regulator and entity registries operating under a single financial services commission.
Division: Supervision
The Supervision division's primary function is to oversee the financial services industry to ensure relevant legal obligations and regulatory requirements are met and to judge if they are being run in a safe and sound manner. As part of this we continually assess whether existing or emerging risks, to which Jersey is exposed, are being effectively managed.
Team: Relationship Managed Supervision
Our Relationship Managed Supervision teams work directly with entities, using a risk-based approach,
to ensure risks are identified, mitigated, and managed through regular interactions with regulated
entities. Prudential supervisors are responsible for maintaining the stability of the financial system
through the supervision of regulated entities, executing the JFSC’s supervisory approach and
collaborating with our policy colleagues to enhance our strategy for the prudential regulatory
framework.
Role: Senior Supervisor, Prudential, Relationship Managed Supervision: Permanent/Full
time
Our Prudential Supervision team is a new addition to our Relationship Managed Supervision teams
and provides an excellent opportunity to help shape how the JFSC implements its approach to
forming views on the business model sustainability, analysing prudential returns, financial
Senior Supervisor, Prudential Supervision Relationship Managed Supervision
accounts, and interviews with Senior Leadership executives, to understand their prudential risks
and mitigation strategies.
You will work with Supervision and Policy colleagues to develop the prudential framework and will
lead the JFSC’s communication and stakeholder management for prudential supervision.
The successful candidate will join the JFSC at a key stage in its development, as it seeks to play an enhanced role in the continued success of Jersey as a highly regarded International Financial Centre. The candidate will deliver the following outcomes:
• Ensuring Jersey is effectively regulated and remains a competitive International Financial
Centre, by effective delivery of:
› The prudential supervision of entities in line with the agreed risk-based approach, supporting the engagement of the JFSC with Senior Leadership, including CFO’s, in conversations about financial resilience and sustainability. › Effective use of the JFSC’s risk model, when identifying escalating levels of risk, with
appropriate follow up action being demonstrated.
› Driving the JFSC’s risk analysis of regulated sectors financial resources.
› The analysis of the financial risk profile of an entity and working with supervisors
to integrate your assessment into the overall JFSC firm risk profile, this includes
identifying capital and liquidity risks and recommend supervisory management
strategies.
› Developing supervisory strategies for capital and liquidity risks identified.
› Active involvement in identifying, recommending, and implementing continuous
improvements to internal working practices and procedures.
› Ensuring activities are completed in line with agreed processes, SLA’s and
measures that matter for quality, timeliness, and efficiency.
• Actively contribute to develop a team of high performing Supervisors who are effectively managing prudential conduct and financial crime risk, by effective delivery of
› Supporting the Senior Manager in coaching and developing colleagues within the team to ensure we have the right expertise within JFSC in relation to business model sustainability. › Actively support with the ongoing performance management of team members to ensure a consistently high standard of output.
• Working effectively with a wide range of internal and external stakeholders to
ensure legislative clarity and understanding, leading to an improvement in
business integrity, by effective delivery of:
› Establishing and maintaining regular communication with stakeholders in the JFSC and
wider Jersey agencies, such as the Jersey Resolution Authority (JRA), and other regulators.
› Supporting the Director of Relationship Managed Supervision in meetings with the JRA
and Government Bodies on the delivery of our supervisory program related to prudential
matters
› Maintaining a cooperative relationship with the finance industry associations, key
banks, and other financial Institutions for a wide variety of prudential matters.
› Coordinating meetings and steering the discussion of JFSC expert groups on issues
related to prudential policy with focus on the strategic themes.
You will add value to the organisation by:
Contributing to the JFSC’s mission to maintain Jersey’s position as a leading International Finance
Centre with high regulatory standards supporting its role maintaining the stability of the
financial system.
Applying a risk-based approach to supervising firms across the regulated sectors, reviewing and
assessing the effective and appropriate management and mitigation of prudential risks.
Supporting the JFSC in expanding its understanding of existing and emerging risks.
Supporting the wider team by deputising for Senior Managers as required.
What will success in this role look like? Delivery of effective and appropriate supervision of entities across all sectors to ensure the mitigation of prudential risks.
Delivery of supervision effectiveness and facilitating business integrity.
Delivery of a strong level of competency amongst the JFSC staff through sharing best practice
and regular coaching of our regulatory responsibilities.
Are you suitable for this role?
This role would suit an individual with a strong interest in business model sustainability with
knowledge of supervision and prudential policy developments and a good understanding of the
broader macro environment and risks to entities business models.
Proven experience of prudential skills, in particular experience of the technical aspects of
regulation relating to capital and liquidity and experience in regulatory and/or supervisory
roles.
A strong knowledge of International regulatory standards, together with an understanding of the Jersey regulatory framework, legal structures, and product offerings.
Ability to represent the JFSC credibly and professionally in both internal and external
meetings.
Why us?
Working in the JFSC will enable you to join a team people who have purpose, passion, and pride. It offers the opportunity to work alongside people, who are passionate about maintaining Jersey’s position as a leading International Finance Centre with high regulatory standards. This clarity on our purpose is incredibly motivating and we leverage our core values of: Excellence, Professionalism, Respect, Integrity, and Teamwork to deliver our work. Our people are proud of their work and their contribution to Jersey. If you are looking to make a difference, have a unique working experience and contribute to a bigger picture, then think JFSC; a diverse team of people who put their hearts and minds into what they do and have some fun along the way!
Hiring Manager: Ellie Sharples
Replacement: (N) (If yes, provide incumbent’s name)
New Role: (Y)
Job Grade: 7 Budget for the role: £74,700 - £80,925
Reporting Line: TBC Role supervises –Job Title(s): TBC
No of Direct Reports: TBC No of Indirect Reports: N/A