The Ministry of Economic Development is seeking nominations or expressions of interest for the role of Commissioner for Financial Advisers ("Commissioner"). This position has been established under the Financial Advisers Act 2008. The Commissioner will sit on the Securities Commission but has separate statutory functions set out in the Financial Advisers Act.
The role is expected to be full time. The Commissioner has statutory functions and decision-making responsibilities under the Financial Advisers Act, which include: appointing members of a Code Committee; reviewing and proposing changes to a Code of Conduct for financial advisers; chairing a Disciplinary Committee; and serving as a member of the Securities Commission.
To be considered for appointment, candidates must have knowledge of, or experience in, the financial adviser industry or any other industry, commerce, economics, law, accountancy, public administration, or securities.
In addition to the requirements prescribed by statute, it would be ideal for the Commissioner to:
- have a good understanding of the economic, legal, financial, and regulatory issues critical to decision-making under the new regime for financial advisers;
- have legal experience, or experience in administrative and disciplinary procedures;
be familiar with the various approaches taken by significant overseas jurisdictions in regulating financial advisers;
- have experience in, or understanding of, the public sector and working within the statutory environment;
- have a breadth of commercial experience, or extensive experience in a senior leadership and management role;
- have the ability to work effectively in a collegial, decision-making environment;
- have the ability to communicate effectively with stakeholders and the media, and manage key relationships with industry and the wider business community; and
- have the interest and enthusiasm needed to contribute effectively to the performance of the Securities Commission throughout their term of membership.
More details are found in the position description available below.
Submitting Expressions of Interest
The Ministry of Economic Development will require all interested individuals to submit:
- a short covering letter;
- a current curriculum vitae using a Cabinet CV Form (CAB 50/01); and
- a completed and signed Declaration of Interest Form.
Please download the following:
Inquiries may be addressed to Julia Chong or Patricia Canlas, Competition, Trade and Investment Branch, Ministry of Economic Development.
Contact Details:
Email: board.appointment@med.govt.nz
Tel: +64-4-472 0030
Fax: +64-4-499 1791
Post: Ministry of Economic Development, PO Box 1473, Wellington 6011, New Zealand
(Subject: Commissioner for Financial Advisers)
The Ministry will also undertake short listing, interviews, and reference and background checks as part of the process for assessing candidates’ suitability for the role.
The deadline for submitting all relevant documents is 5:00pm on Monday 17 November 2008.