Career Opportunity - Senior Analyst

The Financial Services Commission (FSC), is an integrated regulatory body established on April 1, 2011 by virtue of the Financial Services Commission Act (2010).  It is charged with the responsibility for supervising and regulating non-bank financial institutions in Barbados, particularly those entities in the insurance, credit union, securities and occupational pensions sectors.

Position Summary
The Senior Analyst will be responsible for assisting the Relationship Manager with the tasks and nresponsibilities regarding the licensing, oversight and supervision of entities operating in the Credit Unions, Insurance, Pensions and Securities sectors. The Senior Analyst will also be directly responsible for the ongoing assessments of assigned registrants/licensees, and the supervision of Analysts and Junior Analysts in the assigned portfolios.

Main Duties and Responsibilities
▪ Acts as the Relationship Officer for registrants in the assigned portfolio and may be a key point of contact
▪ Supervises the processing of applications for registration and other filings made by registrants and licensees ensuring that all legal and prudential requirements are met, including:
o Ensuring that registrants are in compliance with the Companies Act, Prospectus requirements, AML or any other additional Authority/Regulatory guidelines.
▪ Prepares documentation for and coordinates meetings of Board Committees.
▪ Responsible for quality assurance of the work of the Analyst and Junior Analyst inclusive of all registers, publications, and databases.
▪ Assists with the Implementation of the Commission's Risk-Based framework for the assessment of registrants/licensees:

o Responsible for conducting continuous offsite assessments of the financial health, compliance, and risk management of registrants/licensees, including developing and updating risk-based reviews of registrants/licensees, assessing financial and operational information received and other market intelligence including complaints and tips and conducting risk-based analysis and exception testing.
▪ Develops and implements individual supervisory plans for entities, reviews and supervises onsite and offsite assessments, supervisory plans, reports, papers, profiles, and other supervisory documentation prepared by analysts and junior analysts and provides guidance:
o Identifies areas of focus for planning subsequent detailed regulatory examinations.
o Conducts onsite evaluations of licensees/Registrants inclusive of testing systems and compliance, conducting interviews, assessing governance, risk management and internal controls, preparing examination reports and findings letters, presenting findings to management and senior officers (within the Institution and at the FSC).
o When assigned acts as Examiner in Charge, assigns roles to Analysts or other team members, reviews working papers, finalises reports and other documents associated with examinations e.g. exit memos.
o Monitors compliance with action plans emanating from examinations and other directives or guidance from the FSC.
▪ Supervises and participates in the evaluation of applications including those for registration and licensing of entities and provides appropriate recommendations for consideration, including reviewing and providing guidance to Analysts and Junior Analysts including to assess the fitness and propriety and suitability of entities for registration or a licence.
▪ Evaluates other forms of regulatory applications, requests, and submissions, and prepares papers with appropriate recommendations for consideration, including requests for foreign currency permits.
▪ Monitors and evaluates concerns in line with the ladder of intervention, making recommendations for timely intervention, corrective or enforcement action, and escalates material issues and developments and conflicts to the Relationship Manager and senior management, and participates in the resolution of the issues identified.

▪Assists in the development and update of early warning and systemic risk indicators and provides early warning reports of potential and emerging deficiencies and elevated risk involving regulated entities.
▪ Receives financial, operational, and other data from financial institutions, evaluates trends and makes recommendations for further action.
▪ Evaluates new and emerging financial products and services and assists in the development of appropriate responses and recommendations regarding their regulation and supervision.
▪ Analyses financial services products, services, and related documentation including offering documents, insurance policy documents, and amendments thereto in accordance with the FSC’s supervisory programme and provides recommendations.
▪ Evaluates material and other changes to entity information and makes appropriate recommendations for actions to be taken.
▪ Assists with the development and oversight/monitoring of FSC’s supervisory programme including the developments and maintenance of regulatory policy guidelines, systems and procedures and related programmes.
▪ Liaises and coordinates with other regulators as appropriate to provide support and input to the evaluation, monitoring, and supervision of regulated entities.
▪ Assists in the development and implementation of, amendments to the legislation, guidelines, policies, processes and procedures, models, databases, circulars, other information, and regulatory and supervisory tools.
▪ Participates in domestic, regional, and international forums at which standards and regulatory initiatives are developed, and assists in monitoring the application, adoption and/or compliance with such standards and initiatives.
▪ Assesses trends based on complaints and market tips and engages with internal and external stakeholders to address the issues presented.
▪ Leads and directs Analysts in the performance of their functions and assists with training, coaching and Performance Management of direct reports.
▪ Collaborates as required with other Senior Analysts.

▪ Assists with the preparation of the reports and information for internal stakeholders including reports to senior management and the Board; and external stakeholders including the Court, Government, government agencies, and other regulatory bodies.
▪ Participates in stakeholder engagement initiatives as required.
▪ Assists in the planning for the implementation and execution of the objectives for the Supervision & Regulation Department.
▪ Deputises for the Relationship Manager when required.
▪ Performs any other related duties as required.

Experience and Qualifications
▪ A Bachelor’s degree in business, finance, or related program.
▪ Related Professional designation would be an asset.
▪ Five years’ experience in financial regulation and supervision.
▪ A minimum of three years’ supervisory experience.

Knowledge, Skills, and Attributes
▪ Advanced knowledge of risk management and regulatory frameworks.
▪ Advanced proficiency in spreadsheet analysis, database management and word processing applications.
▪ Exceptional financial and evaluation skills.
▪ Excellent attention to detail and strong analytical skills.
▪ Able to work with minimal supervision.
▪ Excellent planning and time management skills.
▪ Proven leadership skills.
▪ Strong oral and written communication skills and the ability to effectively interact with individuals at various levels across the organization.
▪ Good interpersonal skills/team player.
▪ Strong organisational and administrative skills.

All interested candidates should demonstrate in their Curriculum Vitae how their experience, achievements and qualifications would be a good match for this role. The CV should be sent no later than May 22, 2025.