A veteran industry insider with nearly thirty years of financial regulatory experience, Noel Vari brings a wealth of strategic insight and tactical know-how to the self-regulatory body representing Vanuatu’s online brokers.
Founded in 2020 by six registering agents under the country’s Financial Dealer Licence (FDL) framework, the Financial Markets Association has since established itself as a leading advocate for high professional standards of conduct, transparency and investor protection for the benefit of all market participants. Its membership, now 17 strong, includes some of the longest-established and most globally recognised names in the industry.
Appointed as an independent consultant in the role of Head of Business Development, Mr. Vari has been tasked with leading the FMA into its next chapter by deepening its industry presence, expanding its membership and services, and broadening its impact on the wider community. He will consult extensively with key stakeholders, including the VFSC, VFIU, VIPA and relevant government agencies, to ensure that FMA initiatives reflect the needs of its members and the public.
His extensive experience in AML/CTF matters will be particularly valuable as Vanuatu prepares for the Asia/Pacific Group’s (APG) Mutual Evaluation scheduled for November 2026.
Reporting to the Executive Committee of founding FDL agents, Mr. Vari will incorporate member perspectives while upholding the FMA’s values of accountability, expertise, efficiency and fairness. Ultimately, his role aims to strengthen Vanuatu’s financial services industry and contribute to the nation’s social and economic advancement.
A native of Araki Island in South Santo, Noel Vari holds a Bachelor of Economics from the University of Papua New Guinea (2003) and a Master of Business from the University of Sydney (2005). He was inducted into Beta Gamma Sigma, the international honour society recognising academic excellence in business studies.
After a four-year tenure as Assistant Statistician for the Government of Vanuatu, Mr. Vari joined the Reserve Bank of Vanuatu as an assistant supervisor. He rose through the ranks to become Director of the Financial Regulation Department in 2007 and later Deputy Governor in 2021, a position he held until his departure from the institution earlier this year.
In his senior central-bank roles, he oversaw key functions across banking, payments and settlements, currency, administration and financial markets, while contributing to major national and regional regulatory initiatives, including digital identity projects, AML/CTF supervision, payment-system reforms, the comprehensive credit-reporting programme and financial-inclusion efforts. He was also part of the dedicated public–private task force that successfully secured Vanuatu’s removal from the FATF Grey List in 2018.
“Noel brings a rare combination of experience, judgement and genuine passion for the industry,” said Martin St-Hilaire, President of the FMA. “He understands where Vanuatu’s financial sector needs to go next, and he knows how to get people working together to make it happen. We’re very lucky to have him leading this next chapter.”
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