The Turks and Caicos Islands Government is requesting responses to this request for expressions of interest to serve as a Board Member to the Board of Directors for the National Wealth Fund (NWF).

Ministry with Responsibility for the National Wealth Fund

The Ministry of Finance, Investment and Trade has purview of the NWF and references to “Minister” relates to the Minister for Finance.

Background

The Turks and Caicos Islands Government through Ordinance 7 of 2017 established the Turks and Caicos National Wealth Fund.   The Fund currently has $25.9m (twenty-five point nine million United States Dollars) to be distributed among three funds: the (a) Stabilisation Fund; (b) Infrastructure and Competitiveness Fund; and (c) Heritage Fund.

Role of the Board of Director of the NWF

The Board of the Directors of the Turks and Caicos National Wealth Fund are charged with the responsibilities of management and oversight of the Fund.

Composition of the National Wealth Fund Board

According to the Turks and Caicos National Wealth Fund Ordinance, Section 19 (2, 3 and 4) The Board shall comprise of the following members appointed by the Minister as follows—

(a) the Permanent Secretary Finance;

(b) the Attorney General;

(c) a person nominated by the Governor;

(d) a person nominated by the Leader of the Opposition; and

(e) not more than five persons from the private sector.  

(3) The persons appointed under subsections (2)(c) to (e) shall be persons professionally qualified with seven years recognised standing and proven competence in one or more of the following areas—

(i)  investment;

(ii)  finance;

(iii) economics or economic development;

(iv) law;

(v)  accounting and auditing;

(vi) risk management;

(vii) business management;

(viii) corporate finance; and

(ix) securities. 

(4) The Minister shall appoint one of the appointed members as the chairperson.

Remuneration

Any expenses of the NWF incurred in the performance of its functions will be payable out of money appropriated by the House of Assembly for that purpose.

Further Details

Detailed information on this opportunity to serve can be found on the Government of the Turks and Caicos Islands website: https://online.fliphtml5.com/pejq/bgxc/                                                                                                                   

Submission

We invite you to submit your application:

Via email to: This email address is being protected from spambots. You need JavaScript enabled to view it.

Subject: REOI – Board of Director – TC National Wealth Fund

Please include the following in your application: Cover Letter (one page) outlining your interest, your Resume, and the names of two references.

Deadline: March 21 2022

ENDS