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Jersey Financial Services Commission: Appointment of Commissioner

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

Ministers are elected by the States Assembly and have legal responsibilities and powers as “corporation sole” under the States of Jersey Law 2005 by virtue of their office and in their areas of responsibility, including entering into agreements, and under any legislation conferring on them powers.

An accurate record of “Ministerial Decisions” is vital to effective governance, including:

  • demonstrating that good governance, and clear lines of accountability and authority, are in place around decisions-making – including the reasons and basis on which a decision is made, and the action required to implement a decision

  • providing a record of decisions and actions that will be available for examination by States Members, and Panels and Committees of the States Assembly; the public, organisations, and the media; and as a historical record and point of reference for the conduct of public affairs

Ministers are individually accountable to the States Assembly, including for the actions of the departments and agencies which discharge their responsibilities.

The Freedom of Information Law (Jersey) Law 2011 is used as a guide when determining what information is be published. While there is a presumption toward publication to support of transparency and accountability, detailed information may not be published if, for example, it would constitute a breach of data protection, or disclosure would prejudice commercial interest.

A decision made 20 July 2017:

MINISTERIAL DECISION REFERENCE:    MD-C-2017-0105

DECISION SUMMARY TITLE:  Appointment of Commissioner of the Jersey Financial Services Commission – Mrs Annamaria Koerling

DECISION SUMMARY AUTHOR:

Chief Officer - Financial Services, Digital and Enterprise

IS THE DECISION SUMMARY PUBLIC OR EXEMPT?  

Public

REPORT TITLE:  Appointment of Commissioner of the Jersey Financial Services Commission – Mrs Annamaria Koerling

REPORT AUTHOR OR NAME OF PERSON GIVING REPORT:  (if different from Decision  Summary Author)

Chief Officer - Financial Services, Digital and Enterprise

IS THE REPORT PUBLIC OR EXEMPT 

Public

DECISION AND REASON FOR THE DECISION:

The Chief Minister approved the nomination of Mrs Annamaria Koerling for appointment by the States Assembly as a Commissioner of the JFSC with effect from the date of debate by the States for a period of five years.  The Minister directed that the proposition be lodged au Greffe for debate by the States at the earliest opportunity.

 

Mrs Annamaria Koerling is a highly qualified wealth management professional with over 25 years’ experience in international financial services, working in both larger FTSE quoted and smaller, independent privately owned companies. The Recommendation to appoint Mrs Koerling comes after a full candidate search, where, to ensure a proper balance of experience on the Board of Commissioners, to seek the appointment of an individual of recognised high repute from outside the Island with extensive experience within the UK or European finance industry.

 

The recruitment process followed procedures agreed with and overseen by, the Jersey Appointments Commission (“JAC”) and the JAC has confirmed that the recruitment process has met its requirements for openness of competition, impartiality, equality and selection based on merit. 

 

Under Article 3(2)(a) of the Financial Services Commission (Jersey) Law 1998, Commissioners are to be appointed by the States on the nomination of the Minister. 

 

RESOURCE IMPLICATIONS:

There are no resource implications for the States of Jersey as a result of this decision.

ACTION REQUIRED:

The Greffier of the States to be requested to arrange for the proposition to be lodged au Greffe for debate at the earliest opportunity.

 

SIGNATURE:

 

 

SENATOR IAN GORST

POSITION:

 

 

CHIEF MINISTER OF JERSEY

 

 

DATE SIGNED

EFFECTIVE DATE OF THE DECISION

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