Description
VACANCY NOTICE
The Reserve Bank of Vanuatu is inviting applications for the position of Director, Department of Financial Regulation (DFR).
Purpose
This position is to oversee the overall functioning of the Banking Supervision Department and ensure that the activities of commercial banks and financial institutions do not pose a threat to depositors, investors or the stability of the Vanuatu financial system. The incumbent will coordinate the Department's planning and work programme for both on-site and off-site activities, as well as research into developments in supervisory practices. The incumbent will also be responsible for the Department's overall budget and training requirements.
Duties and Responsibilities
The Director of the DRF will report directly to the Deputy Governor. The main functions of the position include, but are not limited to:
- Responsible for providing reports on issues and developments affecting the financial system of Vanuatu by identifying prudential concerns and recommending corrective action for a financial institution and advising the Deputy Governor as required. The Director is responsible for making recommendations on the implementation of new policy initiatives and the issuance and revocation of a banking license.
- Responsible for providing assistance in the revision of various banking supervision laws and policies in order to improve the work of the supervision department.
- Be responsible for conducting prudential consultations with financial institutions and liaising with financial institutions, as well as maintaining contacts with external auditors, industry groups and other regulatory bodies, both domestic and international. The results of the consultations are to be discussed with the Deputy Governor, the Governor and the Management Committee.
- Responsible for discussing with the Deputy Governor, Governor and Management Committee the preliminary report and on-site report on financial institutions supervised by the Reserve Bank of Vanuatu.
- Coordinate the Ministry's budget and will be responsible for evaluating the Ministry's outputs
- Responsible for discussing the possible development of prudential policy before the Policy Committee and the Management Committee of the Bank before it is approved and finalised for implementation.
- Assess the training needs of the department and liaise with the Human Resources Officer on training needs, in consultation with the Deputy Governor.
- Responsible for evaluating the performance of senior staff in the department.
- The Director will be a member of the Management Committee and may become a member of the various committees of the Bank.
- Responsible for the development and implementation of the succession plan for the Financial Regulation Service.
- Be able to assume higher responsibilities or other tasks assigned by the Deputy Governor or Governor.
Requirements
- Obtain a Master's degree in Economics or any other high qualification in the field of Economics
- A minimum of (5) years of experience in the above field
- Knowledge of RBV Act, exchange rates, monetary policy including other relevant banking legislation.
- Knowledge of issues and concepts related to banking, financial markets and supervision is essential.
- An understanding of the Basel Core Principles on Effective Banking Supervision and other internationally recognised standards such as FATF and OGBS requirements would be an advantage
- Possess sound computer skills and be proficient in Microsoft Office applications for analysis, report writing and other work-related tasks;
- Must have good management skills and good judgment, problem solving skills and intuition;
- Must possess strong written and oral communication skills, including the ability to produce high quality presentations and analytical reports on the performance of banks and financial institutions;
- Must have very good interpersonal skills, including the ability to build relationships with stakeholders;
- must be a good team player and able to meet deadlines;
- must be able to work under limited supervision;
- Must be able to work under pressure and;
- Must be able to achieve the best result using available resources
Applicants must be able to provide a medical report and police clearance
How to Apply
General conditions
An attractive remuneration package will be offered, commensurate with experience and qualifications. Candidates must be proficient in written and spoken English and have a good knowledge of French.
Written applications must include:
- a resume;
- copies of relevant qualifications (diplomas, etc.) and certified transcripts;
- a statement in support of the application regarding the requirements (totaling no more than 2 pages);
- The name and contact details of at least three (3) arbitrators.
Applications without certified academic transcripts will not be considered. All applications must be received by Date 18 th February 2025 : and sent by email to:
The Governor
Reserve Bank of Vanuatu
Private Mail Bag 062
PORT VILA
[email protected] OR by email to: [email protected]
The Reserve Bank is an equal opportunity employer.
For candidates who have recently applied for this same position, it is advised not to do so again. We inform you that we have received your application.
Job Category: Other. Job Type: Full-Time. Job Salary: According to experience and qualification.
Closed 02/18/2025
