Isle of Man Financial Services Authority - Application for Appointment of Members
The Treasury is seeking applications from appropriately qualified individuals for appointment as a member of the Isle of Man Financial Services Authority. The Authority is constituted under the Transfer of Functions (Isle of Man Financial Services Authority) Order 2015, which enabled the merging of the functions of the Financial Supervision Commission and Insurance and Pensions Authority.
The regulatory objectives of the Isle of Man Financial Services Authority are:
- Securing an appropriate degree of protection for policyholders, members of retirement benefits schemes and the customers of persons carrying on a regulated activity.
- The reduction of financial crime.
- The maintenance of confidence in the Island’s financial services, insurance and pensions industries through effective regulation, thereby supporting the Island’s economy and its development as an international financial centre.
Key functions of the Authority include:
- The regulation and supervision of persons undertaking activities regulated by the Authority in or from the Isle of Man.
- The maintenance and development of the regulatory regime for activities regulated by the Authority.
- The conduct of investigations into any potential liability arising from breach of AML/CFT legislation by persons undertaking activities regulated by the Authority.
- The oversight of directors and persons responsible for the management, administration or affairs of commercial entities.
- Participation in consultative bodies, working groups and other arrangements.
Further to the recent appointments made to the Isle of Man Financial Services Authority, the Treasury is looking for a member who can demonstrate experience and in depth knowledge across the life insurance and/or pensions sectors to assist the Authority in exercising its statutory functions.
If you are interested please contact Gavin Leggate, The Treasury, Government Offices, Bucks Road, Douglas, Isle of Man, IM1 3PX. Telephone 01624 685584, or e-mail: gav[email protected] to be sent an information pack. Alternatively the documents can be downloaded from the Public Appointments webpage.
Closing Date for applications is 5.00pm on Friday 27 November 2015.