Jersey Bank Depositors Compensation Board: appointment of member

STATES OF JERSEY

JERSEY BANK DEPOSITORS COMPENSATION BOARD: APPOINTMENT OF MEMBER

Presented to the States on 4th September 2018 by the Chief Minister

STATES GREFFE

2018  R.115

REPORT

Background

The Jersey Depositors Compensation Board (the "Board") was established in 2015 under the Banking Business (Depositors Compensation) (Jersey) Regulations 2009 (the "DCS Regulations") to administer the Jersey Bank Depositors Compensation Scheme.

Part 2  of the  DCS  Regulations  provides for  the  establishment  of the  Board  and appointment of board members ("Members"). Regulations 10 and 11 of the DCS Regulations provides as follows –

"10  Constitution of the Board

1. The Board must have at least 3 members.
2. The members of the Board shall be appointed by the Minister after consulting with the Appointments Commission.

(2A)  Article 2 of the States of Jersey (Appointment Procedures) (Jersey)

Law 2018 shall apply to the appointment of members of the Board.

3. A person shall not be eligible for appointment as a member of the Board if the person is –

1. a member of the States;
2. subject to a disqualification order under Article 78 of the Companies  (Jersey)  Law 1991  or  Article 24(7)  of  the Bankruptcy (Désastre) (Jersey) Law 1990; or
3. bankrupt.

4. The appointment of a person as a member of the Board ceases if the person becomes a person who may not be appointed to be a member of the Board.
5. The rights and obligations of the Board, and the performance of its functions, shall not be affected by –

1. any vacancy in its membership; or
2. any defect in the appointment of a member.

11  Terms and conditions of appointment of members of the Board

1. A person appointed to be a member of the Board –

1. holds  the  appointment  on  terms  and  conditions  agreed between the person and the Minister; and
2. may be reappointed.

2. The terms and conditions must include terms and conditions in respect of –

1. the term of the appointment of the member, being a term not exceeding 5 years;
2. the manner in which the member may resign during that term;

3

3. the grounds upon which the appointment of the member may be terminated during that term;
4. the remuneration (if any) of the member,

and may contain such other terms and conditions as the Minister may consider appropriate or necessary.

3. The grounds mentioned in paragraph (2)(c) must include –

1. the  member  being  mentally  or  physically  incapable  of carrying out his or her functions as a member; and
2. the  member being convicted  of an  offence that carries a penalty of imprisonment for a term of 2 years or longer."

Appointment process

There  was  open  competition  for  the  new  appointment,  in  line  with  the  Jersey Appointments Commission's Guidelines. The appointment process was overseen by a selection panel consisting of the chairs of the Board, the Jersey Bankers' Association, and a representative of the Chief Minister, to ensure that the process was conducted appropriately, meeting the standards required in openness of competition, impartiality, equality and selection based on merit.

An advert was placed in the Jersey Evening Post in May 2018 and on the States of Jersey recruitment website. The recruitment process was very successful in attracting a number of high-calibre candidates.

All shortlisted candidates were interviewed by the selectin panel which was chaired by Mr. Paul Leary, the chairman of the Board. The panel included the chairman of the Jersey Bankers' Association and a representative of the Chief Minister.

In  making  the  recommendation  for  appointment,  the  selection  panel  carefully considered  the  merits  of  all  the  candidates  and  their  professional  and  academic backgrounds, with the aim of complementing the experience and background of the other members of the Board.

As a result, the Chief Minister proposes to appoint Ms. Amy Taylor to the Board, 2 weeks from the presentation date of this report.

Biographical details

Ms. Amy Taylor trained as an accountant with PWC and has since held a range of senior finance roles in the States of Jersey Treasury and Health and Social Services. She is currently the Director of Finance for Jersey Hospice Care.

As a chartered accountant, Ms. Taylor 's appointment is aligned with the requirements of the DCS Board which has a need for a Member with an accountancy background. Furthermore,  Ms. Taylor 's  strategic  capabilities  and  knowledge  of  public  sector processes are considered to be invaluable to the work of the Board.

R.115/2018

Other Board Members

The other members of the Board are –

Mr. Paul Leary (Chairman) Advocate Mark Dunlop

Mr. Peter Shirreffs.

The Government of Jersey is represented on the Board by Mr. Tom Fothergill in a non- voting capacity.