Ethics Advisor Job Description:
The Ethics Advisor to the Financial Oversight and Management Board for Puerto Rico (FOMB) is a role created under the Bylaws of the FOMB in the following section:
11.4. Compliance with Section 109 of the Act.
(a) For purposes of advising the Board regarding compliance with Section 109 of the Act, and consistent with section 7.1 of these Bylaws, the General Counsel shall retain an ethics expert (the “Ethics Advisor”), who shall undertake the duties and responsibilities set out in this Section 11.4 and such other duties and responsibilities as the Board shall from time to time determine to be appropriate.
The duties and responsibilities of the Ethics Advisor are to be consistent with Section 11.4 of the Bylaws which state as follows:
(b) In accordance with section 109(a) of the Act, all members and the ex officio member of the Board, the Executive Director and all other staff shall be subject to the Federal conflict-of-interest requirements described in section 208 of title 18, United States Code. It shall be the responsibility of the Ethics Advisor to
(i) review all situations that raise potential conflicts of interest issues,
(ii) determine if any Board or staff member should be disqualified from involvement in any activities of the Board based upon a conflict of interest and (iii) grant any exemptions that he or she deems appropriate.
(c) In accordance with section 109(b) of the Act, all members and the ex officio member of the Board, the Executive Director and staff designated by the Board (collectively, “Disclosure Persons”) shall be subject to disclosure of their financial interests as follows:
(1) Documentation of Financial Interests: Disclosure Persons shall document financial interests using the form attached to these Bylaws as Attachment A (including as it may from time to time be amended) or in such alternative format as approved by the Ethics Advisor.
(2) Submission of Financial Interest Information: Disclosure Persons shall submit their financial interest disclosure forms to the Ethics Advisor.
(3) Initial Disclosures. Each Disclosure Person shall provide an initial disclosure of his or her financial interests the later of (i) within thirty (30) days following the Disclosure Person’s appointment and (ii) February 28, 2017.
(4) Updates. Each Disclosure Person shall update his or her financial disclosure whenever a purchase, sale or exchange of stocks, bonds, commodity futures or other securities has occurred and the amount of the transaction exceeds $1,000 as set forth on the transaction disclosure form (and subject to the exceptions noted in that form) attached to these Bylaws as Attachment B (including as it may from time to time be amended). Such disclosures shall be made as necessary on a quarterly basis fourteen (14) calendar days after the close of each calendar quarter beginning with the first calendar quarter in 2017.
(5) Annual Disclosures. Each Disclosure Person shall annually provide a subsequent disclosure of his or her financial interests by no later than April 30 of each year, beginning on April 30, 2018.
(6) Publication. After review by the Ethics Advisor, the financial interest information provided by each Disclosure Person shall be published on the Board’s website.