Career

Signet Bank AS as the sole shareholder of AS Magnetiq Bank announces application for the vacancy of an independent member of the Supervisory Board of AS Magnetiq Bank.

AS Magnetiq Bank aims to become the leading Banking-as-a-Service (BaaS) service provider in the Baltic States, providing digital solutions to FinTech customers operating in the Baltics and the EU.

Independent Supervisory Board Member with understanding and experience in the Baltic FinTech sector

Requirements for the candidate for the position of member of the Supervisory Board of AS Magnetiq Bank:

1. Competence in financial management issues;
2. Work experience of at least three years (acquired in the last 10 years) in the position of a member of the management board or supervisory board (or in an equivalent position) of a medium-sized or large company;
3. Understanding and practical experience in the Baltic FinTech sector;
4. Experience working with international partners;
5. Understanding and knowledge of corporate governance;
6. Independence – candidate should not have any present or recent past relationships or links of any nature with the AS Magnetiq Bank or its management that could influence the his/her objective and balanced judgement and reduce ability to take decisions independently (none of situations specified in paragraph 89 of the “Guidelines on the assessment of the suitability of members of the management body and key function holders (EBA/GL/2021/06; ESMA35-36-2319)) of the European Banking Authority and the European Securities and Markets Authority” (for the purpose of determining independence status) applies);
7. Impeccable reputation (there is no cause for reasonable doubt as to impeccable reputation and no evidence to the contrary), not been deprived of the right to perform commercial activities;
8. Higher academic or 2nd level professional higher education in credit institutions and finance, management, economics, business, law, accounting and auditing, administration, financial sector supervision, information technology and quantitative methods (e.g. statistics, econometrics, creation of quantitative models), which provides the necessary set of knowledge and competences to professionally perform the duties of a Supervisory Board member;
9. Good English language skills;
10. Ability to devote at least 60 hours a year to the performance of the duties of a Supervisory Board member.

Independent Supervisory Board Member with understanding understanding of the international FinTech sector

Requirements for the candidate for the position of member of the Supervisory Board of AS Magnetiq Bank:

1. Competence in financial management issues;
2. Work experience of at least three years (acquired in the last 10 years) in the position of a member of the management board or supervisory board (or in an equivalent position) of an international company;
3. Understanding of international FinTech sector;
4. Experience in capital raising transactions for FinTech companies;
5. Experience in M&A transactions;
6. Understanding and knowledge of corporate governance;
7. Independence – candidate should not have any present or recent past relationships or links of any nature with the AS Magnetiq Bank or its management that could influence the his/her objective and balanced judgement and reduce ability to take decisions independently (none of situations specified in paragraph 89 of the “Guidelines on the assessment of the suitability of members of the management body and key function holders (EBA/GL/2021/06; ESMA35-36-2319)) of the European Banking Authority and the European Securities and Markets Authority” (for the purpose of determining independence status) applies);
8. Impeccable reputation (there is no cause for reasonable doubt as to impeccable reputation and no evidence to the contrary), not been deprived of the right to perform commercial activities;
9. Higher academic or 2nd level professional higher education in credit institutions and finance, management, economics, business, law, accounting and auditing, administration, financial sector supervision, information technology and quantitative methods (e.g. statistics, econometrics, creation of quantitative models), which provides the necessary set of knowledge and competences to professionally perform the duties of a Supervisory Board member;
10. Experience in the financial sector outside the Baltics will be considered as an advantage;
11. Combined experience in private equity, investment banking (M&A and capital raising), fintech start ups & investments, and corporate governance in Europe and globally will be considered as an advantage;
12. Good English language skills;
13. Ability to devote at least 60 hours a year to the performance of the duties of a Supervisory Board member.

The following skills are required to perform the duties of a member of the Supervisory Board of AS Magnetiq Bank: planning and control, cooperation skills, communication skills, development and innovation orientation, change management, strategic vision, decision-making and accountability.

You can apply until 30 May 2024 (inclusive) by sending the following documents in Latvian or English to the e-mail address: [email protected] with the indication “Member of Magnetiq Bank AS Supervisory Board”:

1. Cover letter;
2. Expanded professional biography (CV – for at least the last 10 years) indicating positions, competences and number of employees under subordination, information on the main achievements, self-assessment of language skills and contact information (e-mail address, telephone number);
3. Other documents confirming the fulfilment of the requirements set for the candidate.

The selection of candidates will take place in several rounds. We will contact the candidates who will be included in the next round of selection.

The election of the supervisory board member to the position will take place after the approval of the candidate by the Bank of Latvia, which is a separate process in which candidates will have to provide additional information and documents upon request.

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