The Central Bank of The Bahamas

  • Nassau, New Providence, The Bahamas

To foster an environment of monetary stability conducive to economic development, and to ensure a stable and sound financial system.

Full scope of monetary policy was provided for under the Central Bank of The Bahamas Act, 1974 now superseded by the Central Bank of The Bahamas Act, 2000. Accordingly, it is the duty of the Bank to promote and maintain monetary stability and credit and balance of payments conditions conducive to the orderly development of the economy; to promote and maintain an adequate banking system and high standards of conduct and management therein; and to advise the Minister of Finance on any matter of a financial or monetary nature.

Additionally, one of the Bank's major objectives is to safeguard the external value of the Bahamian dollar, which is fixed at a 1:1 parity with the United States dollar. The responsibility for the administration of Exchange Control Regulations is vested solely with the Central Bank of The Bahamas, which maintains the country's external reserves. The administration of exchange controls has been relaxed considerably over the years, marked by increased annual foreign currency allowances for residents and the delegation of increased approval authority to commercial banks.

The Central Bank fills the traditional roles as issuer of legal tender, banker to both domestic banks and the government, and regulator and supervisor of the banking sector. As supervisor of banks, the Central Bank promotes the soundness of banks through the effective application of international regulatory and supervisory standards. These standards were completely revamped during 2000 and 2001 - in response to global multi-lateral initiatives - to heighten the fight against money laundering and other criminal abuses within the international financial system.

The results have been evident both in terms of the Bank's approach to licensing new financial institutions, as well as in a more enhanced supervisory framework for financial institutions. Important features of the new regulatory regime now include broader and more uniform supervision of bank and non-bank financial activities, and stronger mechanisms for international cooperation among Bahamians and similarly placed foreign supervisory and law enforcement agencies. In all, the Bank's overall policy objective is the promotion of a stable economic environment conducive to high levels of domestic production, employment and growth.

The Central Bank of The Bahamas Nassau, The Bahamas
Mar 08, 2018
Full Time
Job Title: IT Project Manager/ Systems Modernisation Specialist Core Functions: Provide comprehensive support for the Central Bank's information systems modernisation process overseeing requirements setting, identification of solutions and solutions supplies, project budgeting, planning and execution.  Oversee all aspects of system implementation in accordance with the Bank's developed requirements, policies and procedures; and maintain a seamless relationship with the existing IT operations. Spearhead the transformation of IT environment; and develop recommendations on all aspects of IT system development life cycles, integration, maintenance and support.  Education & Experience Requirements: Master's Degree in Information Technology, Business Administration, Management or equivalent certification; plus completed Bachelor's degree in Computer Science, Business, Information Systems or a related field. Project Management Professional (PMP) Certification. At least ten years of Information Technology experience, at least five of which were at a senior management level. At least five years of proven project/ program management experience leading large IT projects, having successfully completed similar projects. Experience with common IT security management and IT governance frameworks, such as International Standards Organization (ISO) 27001/2, the IT Infrastructure Library (ITTIL) and Control Objectives for Information and Related Technology (COBIT). Working knowledge of project management tools, repositories and system development life cycle methodologies. Sound knowledge of contract negotiation and management. Good judgement and sound reasoning ability. Good time management skills. Excellent communication and human relations skills. Qualified candidates should submit their curriculum vitae, references, and certificates to: The Human Resources Manager, Central Bank of The Bahamas at: