William Mason will be appointed director general of the Guernsey Financial Services Commission on the retirement of Nik van Leuven.

Mason (pictured) will join the Commission from the position of Head of Risk at the Central Bank of Ireland, where he has led the development and implementation of its PRISM supervisory methodology.

Most recently he has been working with the European Central Bank helping it plan for the Eurozone’s proposed Banking Union.

Before that Mason worked for the UK Financial Services Authority, joining shortly before the financial crisis, and led teams supervising a range of credit institutions, insurers and investment firms throughout the financial crisis.

Prior to becoming a financial regulator, Mason worked as a strategy consultant and latterly at the UK Cabinet Office where he helped write Regulation – Less is More, a report to the Prime Minister.  His other publications include: Freedom for Public Services; The Costs of Regulation; and PRISM Explained – Implementing Risk Based Supervision.

Commission chairman Cees Schrauwers, who led the selection process, says: “There was substantial interest in the role and the search for the right candidate has been rigorous. The Commission appointed a UK executive search company, Hanson Green, and a long list of 16 was drawn up from applicants arising from a candidate pool of some 150 people, with four making the final interview shortlist.

“The recruitment specialist consulted widely with representatives of Guernsey’s financial services industry and other relevant parties before commencing with the process.”

Mason says: “Guernsey is a mature and highly regarded financial services jurisdiction. I very much look forward to leading the Commission at a time when global financial services and markets continue to face many pressures and challenges.  My wife and I are much looking forward to making our home on the Island, and moving there as soon as practicable.”