MANAGER – FINTECH – Non-Bank Financial Institutions Regulatory Authority (NBFIRA) 512 views

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) invites suitably qualified individuals to apply for the following vacancies:

MANAGER – FINTECH

Reports to: Director Regulatory Services – Capital Markets

MAIN PURPOSE OF THE JOB

Work under the leadership of the Director and Deputy Director to carry out effective supervision of medium risk FinTech firms, in compliance with the governing laws and regulations

Contribute to the management of the Department’s resources to achieve its prescribed mandate and meet its objectives

KEY RESPONSIBILITIES

SECTOR REGULATION

• Act as a key consultant to internal stakeholders on matters related to regulation of FinTech firms in the sub-sector
• Mentor the team of Senior Analysts to ensure that they can deliver high quality effective supervision work and in an efficient matter
• Deal with all FinTech supervision work that are of medium risk
• Manage relationships with high level senior officials of licensed medium risk FinTech firms
• Contribute to the following, under the direction and guidance of the Director:
• Amendments to the legislative and regulatory framework applicable to supervised institutions, in line with international standards and best practice
• Development and review of surveillance manuals, procedures, business and market conduct rules for supervised FinTech firms
• Technical inputs to consumer/investor education programmes
• Conduct the following supervision activities for the licensed medium risk FinTech firms to ensure strict compliance with the governing laws and to safeguard investor interests:
• Planning of supervision work
• Risk profiling and off-site risk-based supervision and monitoring of regulated entities (using data and financial returns gathered by Data Management)
• On-site inspections and examinations of regulated entities
• Organise and conduct of bilateral meetings and consultations with regulated entities and industry
• Monitoring and reporting on developments in the sub-sector
• Periodic reporting on supervision and compliance of regulated entities for dissemination to key internal and external stakeholders
• Handling of complex complaints escalated by the responsible unit
• Preparation and submission of non-compliance reports to Enforcement for investigation
• Work closely with Botswana Innovation Hub and provide the necessary advice, support and guidance for the setting up and operation of the regulatory sandbox
• Work closely with AML/CFT to ensure licensees comply with AML/CFT requirements
• Work closely with the Licensing unit and provide support in technical assessment and vetting of new products/services and licensing applications
• Maintenance of good working relationships with key internal and external stakeholders on issues of mutual concern

Management

• Contribute to planning and budgeting for the department
• Act as the internal quality coordinator for the department
• Prepare reports on implementation of risk mitigation measures, quality enhancement initiatives and audit recommendations
• Plan the subordinates’ activity and maintain direct oversight on their work through reviews and quality assurances
• Proactively anticipate and implement alternative ways to meet commitments when unexpected events, unplanned actions, or contingencies arise
• Research and apply best practices in own area of work, and maintain high level of knowledge in order to effectively undertake the duties of the post
• Monitor and report on developments around the world on FinTech regulation

QUALIFICATION AND EXPERIENCE

• At least a master’s in Economics, Statistics, Mathematics, Actuarial Science, Accounting, Finance, Business Management, Law or related field from a recognised institution
• Professional Certification: FinTech (Law, Security or Regulation) or Distributed Ledger Technology
• At least 8 years of similar experience post-qualification in FinTech, including a minimum of 2-3 years in a comparable line management position

SPECIALISED KNOWLEDGE AND TECHNICAL SKILLS:

• Licensing, supervision and enforcement activities
• Procedures, processes, best practices in regulation of FinTech
• Engaging with digital, financial and technology players, and the startup ecosystem
• Distributed Ledger Technology and Blockchain technology
• Risk profiling tools and methodologies (including Risk Based Supervision System
• Acts governing FinTech
• Proficient in the use of computers and software relevant to the position

SKILLS AND COMPETENCIES

• Communication
• Conflict management
• Decision-making
• Interpersonal
• Mentoring & coaching