Our framework

JBA Sub Committees

Our sub committees are set up to identify and address topical issues, themes or trends in the financial industry, promoting the exchange of information and insights with members and other stakeholders with
the aim of shaping a strong and efficient financial sector for Jersey.

The Financial Crime & Conduct Committee

Chair: Dan Dowdall

The committee considers best practice planning, industry trend analysis and joint community awareness schemes in relation to fraud and scam trends. It also coordinates closely with the Jersey Fraud Prevention Forum as a member, and agrees industry and community alerts and communication.

It also considers and forms a collective view, where possible, on conduct of business legislation, regulation and issues that arise in respect of, and impact, Jersey banking groups. Standing agenda items include:

Automatic Exchange of Information and similar tax related matters
Complaint handling and the Channel Islands Financial Ombudsman Service
AML/CFT matters and predicate offences
General conduct of business
Data protection
Government liaison

The Clearing Bank
Sub Committee

Chair: Alistair Philp

This committee handles Retail / Clearing / SME Business banking issues that arise in respect of, and impact, Jersey banking groups. Regular agenda items include:

Public interest matters such as holiday opening times and emergency arrangements in respect of adverse weather, power cuts and transportation issues
Methods to proactively share and broadcast warnings in respect of frauds, scams and electronic attacks on Jersey retail bank consumers
Ombudsman-related matters in liaison with the JBA Conduct of Business sub committee
Consumer Protection and inclusiveness.

The Prudential and Banking
Reform Sub Committee

Chair: Dominic Simpson

This committee supervises the Jersey banking sector’s interests in regulatory matters that concern prudential and structured reform. Standing agenda items include:

Basel III/IV matters relating to capital, liquidity, leverage and funding ratios
Depositor Compensation schemes, UK and EU developments that impact banking operations in Jersey in respect of Capital requirements
Financial Stability Board developments in relation to Recovery and Resolution
Brexit
Tax and accounting matters that influence the prudential or regulatory agenda.

JBA 2.0 Committee

Chair: Tyler Johnson

Established three years ago, the JBA 2.0 is comprised of ‘next generation’ representatives of the JBA member banks. Its primary purpose is to:

Consider and form a collective view on relevant legislation, regulation and banking issues that arise in respect of, and impact, Jersey banking groups
Consider and form a collective view on matters delegated to it by the JBA from time to time
Generate relevant projects / discussion topics from time to time with permission of the JBA
Have a presence and input at all JBA sub committees.

Previous projects and topics considered have included; Fintech and the use of data, research of various ‘Smart Islands’ and how to attract and retain young talent in the Jersey banking industry.