New members sought for Financial Services Authority Board

Exceptional candidates are being sought to play a key role in taking forward the Island’s status as a well-regulated and innovative international finance centre.

The Treasury is currently inviting applications for appointment to the Board of the Isle of Man Financial Services Authority for a term of five years.

Vacancies will become available in 2023 following the expiry of the terms of office of some existing members of the Board.

The role provides an opportunity to work with the Chief Executive Officer, Bettina Roth, and the executive to set the strategic direction of the Island’s risk-based financial services regulator and ensure it remains well positioned to support a dynamic industry.

The Board oversees the Authority’s work to fulfil its regulatory objectives of protecting consumers, reducing financial crime, and maintaining confidence in the Island’s finance sector. Board members bring a wealth of international business, regulatory, financial services and wider commercial experience to the organisation in multiple disciplines.

Applicants must be able to demonstrate a strong track record of professional achievement and the necessary attributes to support the delivery of the Authority’s remit across a wide range of sectors including trust and corporate services, banking, insurance (life and non-life), funds and investments, and pensions.

Senior level advisory or management experience and knowledge of one or more of the above sectors are required, while an understanding of the wider fiduciary services sector and/or anti-money laundering and countering the financing of terrorism (AML/CFT) is highly desirable.

Members of the Authority’s Board, with the exception of the CEO, are appointed by Treasury, subject to the approval of Tynwald.

An information pack setting out the role profile, responsibilities and person specification, as well as the expected time commitment and remuneration, is available on the Isle of Man Government website.

Applications are encourage from individuals, whether on or off-Island, who can demonstrate they have the skills, knowledge and experience required to be a member of the Board. The closing date for applications is Sunday 12 February 2023.

Lillian Boyle, Chair of the Authority’s Board, said: ‘This is an opportunity to join the Board at an exciting time and make an important contribution to the Isle of Man and its international reputation. Board members work closely with the CEO and her team to set the strategic priorities that promote the future-proofing of the Island’s financial services sector, while safeguarding the best interests of consumers.’

She added: It’s important for the Board to have a broad and complementary skill-set and to work collaboratively to provide effective oversight of the Authority’s work. It’s a diverse and interesting role and I would encourage people who feel they have the right skills, enthusiasm and commitment to contact Treasury for further information.’