Kate Storey is an independent non-executive director and consultant with over 20 years of legal experience and expertise in the insurance, investment funds and wider financial services markets. She is a qualified Guernsey Advocate and a former English Solicitor.
In September, Kate was confirmed by the States of Deliberation as a board member of the Guernsey Banking Deposit Compensation Scheme. It’s an executive role, responsible for the day to day administration and resourcing of the Scheme which provides compensation for depositors in the event of failure of Guernsey licensed banks.
We asked Kate about the recruitment process and what inspired her to apply:
How did you find out about the role, Kate?
Through an advert in the Guernsey Press and also via Women in Public Life.
What attracted you to it?
It fits my legal skill set and experience of working in the Guernsey finance sector for the last 16 years; the Scheme has an essential role in Guernsey’s financial safety net and in consumer protection of depositors in Guernsey and I’m proud to be playing a part in that.
What was the recruitment process like?
It’s an appointment made by the States Committee for Economic Development which can be annulled by the States of Deliberation at a States meeting to which it is presented.
There was a formal recruitment process requiring submission of a Person Specification Document setting out, amongst other things: your legal/regulatory background; experience of serving on a board; experience at a senior level of banking law and regulation; knowledge of the Guernsey financial services industry; and experience of working on cross-border projects. Candidates also had to give a presentation on relevant issues during the interview.
The interview panel comprised of the Chair and Deputy Chair of the Scheme Board and a representative of the Committee for Economic Development.
What are you looking forward to achieving?
I’m looking forward to continuing the good work of the Board members to date, in particular ensuring the Scheme’s legislative framework continues to meet evolving international standards, and further developing relations with international bodies and compensation schemes in other jurisdictions which are relevant to Guernsey’s banking industry.