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WRITTEN QUESTION TO THE CHIEF MINISTER
BY DEPUTY M.R. HIGGINS OF ST. HELIER ANSWER TO BE TABLED ON TUESDAY 28TH MARCH 2017
Question
Will the Chief Minister request the Jersey Financial Services Commission to provide the following information for members?
- The number of staff employed by the Commission in each section or department, broken down further to show the number of years each employee has been employed by the Commission; and
- The level of staff turnover at the Commission over the last five years, together with an explanation of the reasons for such turnover.
Answer
- The Jersey Financial Services Commission ("JFSC") employed 129 people as at 1st March 2017 across a range of full-time and part-time positions. This breaks down into department level headcount as follows:
Supervision 61 Operations 27 Policy 15 Registry 14 Enforcement 9 Director General's Office 3
The average length of service is 5.71 years.
- Staff turnover (as a % of headcount) over the past 5 calendar years was:
2012 10.4% 2013 5.5% 2014 8.7% 2015 21.7% 2016 8.7%
The spike in turnover during 2015 was commented on within the JFSC Annual Report for that year. This was a year when industry demand for good quality risk and compliance staff resulted in comparatively high staff attrition for the Commission as a large percentage of staff left for employment in regulated entities, this was especially prevalent in Supervision. Efforts have since been concentrated on growing resilience to this particular issue and an enhanced focus on structure, succession planning and the overall employee proposition has resulted in a more sustainable level of staff turnover.