INVITATION FOR EXPRESSIONS OF INTEREST – BOARD OF DIRECTORS, MORTGAGE CORPORATION BOARD

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Providenciales, Turks and Caicos Islands – Tuesday, 28th July 2026: The Turks and Caicos Islands Government is requesting responses to this request for expressions of interest to serve as a Board Member for the Board of Directors of the Mortgage Corporation.

Ministry with Responsibility for the Mortgage Corporation
 
The Ministry of Finance, Economic Development, Investment and Trade has purview of the Mortgage Corporation and references to “Minister” relates to the Minister in Cabinet. However, the governance model embodied in the Mortgage Corporation Act reflects a deliberate policy decision to establish a professionally governed, arm’s-length institution that balances Government housing policy objectives with sound governance, prudent financial management, and regulatory accountability.
 
Background
 
The Turks and Caicos Islands Government, through Act 8 of 2026, established the Turks and Caicos Board of the Corporation.  The Act provides for strong governance arrangements through an independent Board of Directors with expertise in: banking, finance, mortgage lending, law, risk management, audit, compliance, valuation, and real estate planning.
Section 45 of the Act expressly provides that the powers of the Corporation are vested in the Board, which is responsible for the policy and general administration of the Corporation. 
While the Act establishes the legal framework, the Board Charter will establish the governance framework, through which the Board exercises its authority, interacts with management, responds to policy directions issued by Government, and fulfills its obligations to the Financial Services Commission as Prudential Supervisor.
Role of the Board of Directors of the Mortgage Corporation 
 
The Board of Directors of the Turks and Caicos Mortgage Corporation is charged with the responsibility of policy and general administration of the Corporation. The Board determines policy and exercises overall governance.
 
Core Responsibilities of the Board
 
The Board shall be responsible for:
  • Approving strategic plans and institutional policies;
     
  • Ensuring financial sustainability and prudential compliance;
     
  • Approving annual budgets and business plans;
     
  • Overseeing the Corporation’s risk management framework;
     
  • Appointing and evaluating the performance of the Managing Director;
     
  • Approving lending and investment policies;
     
  • Ensuring compliance with the Act and Regulations;
     
  • Safeguarding the independence and integrity of the Corporation; and
     
  • Monitoring the achievement of affordable housing objectives.
     
Constitution of the Board
 
The Board of the Corporation shall consist of seven members appointed by the Minister as follows—
 
(a) a chairperson;
 
(b) a deputy chairperson; and
 
(c) five other persons.
 
Criteria for appointment of members
 
In making appointments to the Board, the Minister shall use his best endeavours to ensure that the individuals appointed—
 
(a) are fit and proper; and
 
(b) have knowledge, experience or expertise that is relevant to the functions of the Corporation.
 
Appointments made shall be subject to the Financial Services Commission’s fit and proper assessment.
 
Expressions of interest are being sought particularly from individuals with experience, expertise, and knowledge in at least one of the following areas—
  1. Mortgage lending;
     
  2. Finance;
     
  3. Risk management;
     
  4. Audit;
     
  5. Credit risk; or
     
  6. Compliance 
 
Individuals with expertise in one or more of these areas contribute to:
 
  • Strong corporate governance by providing informed oversight and independent judgment. 
     
  • Sound financial management through effective planning, monitoring, and resource allocation. 
     
  • Prudent lending practices by ensuring loans are assessed, approved, and managed responsibly. 
     
  • Effective risk oversight by identifying and mitigating financial, operational, and strategic risks. 
     
  • Regulatory compliance by ensuring adherence to legal and supervisory requirements. 
     
  • Enhanced accountability and transparency through robust auditing and internal control systems. 
     
  • Financial stability and sustainability by safeguarding assets, managing credit quality, and maintaining public confidence.
 
Requirements
  • Seven (7) years of experience in any of the above-mentioned areas
     
  • Some knowledge of Statutory Board functioning, policies and procedures
     
  • Subject to the Integrity Commission’s Code of Conduct
     
  • Filing of Declaration Form with the Integrity Commission
     
Remuneration
 
The remuneration is set for each Board of Directors at $1,000 per meeting. The Board is required to convene a minimum of six (6) meetings per year. The meetings can be held virtually or in person.
 
Further Details
 
Detailed information on this opportunity to serve can be found on the Ministry of Finance website at www.gov.tc/mof. 
 
Submission
 
 
Subject: REOI – Board of Directors – Mortgage Corporation Board
 
Please include the following in your submission: 
  1. Cover Letter (one page) outlining your interest; 
     
  2. Resume and;
     
  3. Names of two references.
Deadline: Tuesday, 4 August 2026