You are here
Regulator I
The Approved Persons Regime Unit (“APRU”), Banking Insolvency & Fiduciary Services Division is responsible for the assessment of applications for the appointment of senior officers – directors, actuaries, auditors and other independent officers pursuant to any BVI financial services legislation. The Unit is tasked with ensuring that applicants are fit and proper in accordance with the criteria established in Part II, Division 2 of the Regulatory Code, 2009. Key objectives of APRU include:
- Effective implementation of the fit and proper assessment; and
- Timely, accurate and a comprehensive review of applications.
- Review and evaluate applications for directors, compliance officers and other senior officers.
- Review applications relating to the approval of actuaries, auditors and other independent officers.
- Conduct ongoing supervision of regulated (natural) persons under BVI financial services legislation.
- Review the approval and removal of board members and other senior officers.
- Correspond with regulators (internal/external) in respect of conducting regulatory diligence on all applicants.
- Conduct due diligence via criminal and/or other databases.
- Conduct fit and proper reviews of regulated (natural) persons.
- Prepare internal memorandums requesting directions for the Legal & Enforcement Division as it relates to APRU.
- Prepare decision papers for the consideration and approval of the Licensing and Supervisory Committee and/or the Enforcement Committee.
- Respond to queries from overseas regulators, industry and other personnel on all aspects of the Approved Persons Regime.
- Assist with the maintenance of the APRU’s database, ensuring the integrity of the records.
- Any other duties assigned.
- A minimum of 2 years relevant experience in financial services supervision or a closely related field; and
- Significant relevant experience may be considered in lieu of a Bachelor’s degree.
- Ability to critically analyze information.
- Ability to work independently.
- Ability to multi-task.
- Excellent attention to detail, and commitment to accuracy while meeting goals and deadlines.
- Excellent organizational skills.
- Strong oral and written communication skills.
- Ability to maintain strict confidence.
- Highly reliable.
- Familiarity with relevant BVI financial services legislation relating but not limited to banking, insurance and securities and investment business.
- Proficient in MS Office applications (Word, Excel, PowerPoint,).
Disclaimer
This job description is meant to describe the general nature and level of work required for the position advertised. It is not intended to be construed as an exhaustive list of all responsibilities, duties and skills. The Regulator I will be required to follow any other job-related instructions and to perform other job-related duties requested.
