FinTech Specialist - Supervision (Financial Technology)
Description
FinTech Specialist
Supervision (Financial Technology) Department
Bermuda Monetary Authority (Authority or BMA) is seeking a skilled and capable individual to work as a FinTech Specialist in our Supervision (Financial Technology) Department. Reporting to the Assistant Director, the FinTech Specialist will be responsible for the Authority’s activities as they relate to the supervision of FinTech (technologically enabled financial innovation that results in new business models, applications, processes or products with an associated material effect on financial markets and institutions and the provision of financial services).
This is a key role for the Authority and the post-holder will be responsible for but not limited to:
• Conducting on-site prudential reviews of regulated entities for compliance with the Authority’s standards contained in legislation and the Code of Practice applicable to digital asset business entities
• Reviewing Fintech business entity submissions for both licensing applications and prudential filings and producing risk and compliance reports and making recommendations in relation to the viability of business models or the financial condition of the business
• Proactively researching emerging trends and products in relation to distributed ledger technology and digital asset products and product features to enable appropriate risk assessments and response
• Developing regulatory codes and guidance to address emerging industry trends and risks appropriately
• Monitoring distributed ledger transaction data pertaining to regulated entities, analysing and synthesising data to identify patterns, commonalities, and linkages for market manipulation, money laundering or other risks and issues
• Collaborating with analysts to provide indications and warnings and conduct predictive analysis in relation to digital asset business entities
• Advising the supervisory units on the use of distributed ledger technology as it relates to InsurTech
• Performing other related work and special projects as assigned by management in accordance with competencies normally associated with the post.
This position requires a proven technical and business background. Therefore, the successful candidate must have:
• A Master’s Degree in Business, Finance, Accounting, Law or Technology or related professional designation with relevant working experience in Digital Assets
• A minimum of seven (7) years of relevant experience working within a regulated financial service business and/or with a financial regulatory body
• Experience with working in financial technology, including one-year direct experience with digital assets and distributed ledger technology inclusive of credit and liquidity risk management
• Extensive knowledge and understanding of international financial service regulations
• Ability to work independently in a fast-paced environment
• Ability to be collaborative and diplomatic
• Excellent writing skills
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 work experiences.
If you are looking for a challenging opportunity in a team environment, we invite you to submit your resume and cover letter stating why you are interested in this opportunity via Jobvite through the HRIS Portal or via our email address at [email protected]. Applications for this position must clearly bear the reference code 220-010 and be received no later than 3 December 2024.
BMA House | 43 Victoria Street | Hamilton HM 12 | Bermuda | Tel: (441) 295 5278
Bermuda Monetary Authority is an Equal Opportunity Employer
Individual Excellence…Collective Strength