Resolution Specialist - Hamilton, United Kingdom - Bermuda Monetary Authority

Bermuda Monetary Authority

Verified Company

Hamilton, United Kingdom

1 week ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

Description:

Resolution Specialist

Financial Stability and Research Department

The Bermuda Monetary Authority (Authority or BMA) is seeking the services of a skilled and capable individual to work as a Resolution Specialist in our Financial Stability and Research Department.

Reporting to the Director, the Resolution Specialist will be responsible for leading the design and delivery of a robust and credible resolution regime to manage bank failure effectively, reduce the risk to the public of financial loss, and protect the Bermuda economy.

Initially, the focus will be on the options for a bank resolution framework and the strategies for their development and implementation.

Once a proposed framework is agreed the post-holder will be responsible for working with internal and external stakeholders to develop a roadmap for implementation and to lead the Authority's deliverables.

The incumbent will have an indirect reporting line to the Director, Banking, Trust, Corporate Services and Investment (BTCSI) who has overall responsibility for the supervision of banks' recovery planning.

This is a key role for the Authority and the post-holder will be responsible for, but not limited to:

Collaborating with internal and external stakeholders in the definition and scope of a resolution framework for banks, inclusive of objectives, desired outcomes, anticipated challenges in the implementation of the framework, the identification of associated risks and mitigation strategies
Identifying the required legal and regulatory aspects of the resolution framework, working in collaboration with Policy Development and Legal Services
Creating a project plan for the design, development and implementation of the framework, including milestones, resources, dependencies and challenges, monitoring quality and progress, identifying and resolving issues and ensuring project deliverables are complete and timely
Representing the Authority in building and maintaining key external relationships with the Bermuda Government, Bermuda Deposit Insurance Corporation and Industry Partners
Creating and delivering internal training to supervisory teams on bank resolution
Engaging with the Policy department and other departments as needed with the continuous improvement of the framework, with respect to new, proposed, or revised legislation, regulations, policies, procedures and guidance in the execution of regulation
Liaising with the Insurance Supervision Department in relation to work underway on insurance recovery and resolution

This position requires a proven technical and business background.

Therefore, the post-holder should have:

A Master's Degree in Law, Business, Finance or in an equivalent relevant discipline; and/or professional certification/s with relevant experience
Minimum of ten (10) years' relevant (postgraduate) experience of which at least five (5) years' should be at a senior level working within financial services, a financial services regulator, a central bank or a management consultancy
Knowledge of review, analysis and assessment principles, practices and assessment tools and techniques (e.g., diagnostic, monitoring, assessment), and financial institution business structures, operations and governance to establish potential options for a resolution regime
Knowledge of the regulatory perimeter and governance, inclusive of legislative and regulatory requirements
Demonstrated history of project management experience, especially in planning, project leadership and risk and issue management with excellent organizational skills and the ability to prioritize multiple tasks, projects and assignments using effective time management skills
Knowledge of relevant current developments in the national and international recovery and resolution frameworks
Forwardthinking leader with a collaborative focus who can consult effectively with key constituents and become recognized as a valued resource
Strong written and verbal communication and presentation skills with a strong executive presence
Strategic thinking skills with the ability to anticipate future changes in the broader environment
Dynamic/flexible demeanour with exceptional stakeholder relationship management and client service skills and able to adapt communication strategies to the needs of their audience (e.g., simplifying complex messages)
Research, risk assessment and analytical skills to review resolution practices and experiences in other jurisdictions to determine the most effective framework for Bermuda
Possesses a strong commercial acumen facilitating understanding of the economic impact of options for resolution frameworks
Experience resolving a financial institution will be beneficial

Bermuda Monetary Authority is the integrated regulator of the financial services sector in Bermuda. We offer the opportunity for broad exposure to international regulatory issues, special projects and a variety of wo