Job vacancy: Analyst (Trustee & CSP Supervision) within Conduct Supervision
Job code: CS/025/2020
*During these challenging times, MFSA is doing all it can to keep employees & the general public safe. We are conducting online interviews & induction sessions for new employees and working remotely as much as possible. For those employees that need to be in the office, we are ensuring that every precaution is being taken.
About Conduct Supervision:
The Conduct Supervisory section is responsible for the setting up and implementation of the regulatory framework aiming to secure appropriate consumer protection in operations of licence holders in the financial services industry. The Conduct Supervisory section is a newly-formed team with a cross-sectoral function covering under its remit supervision in conduct of credit institutions, securities, trustees, company service providers, as well as insurance and pensions. Malta is one of the few civil law jurisdictions which has integrated trusts into its legal system, and it is quite unique in that it has adopted a regime whereby trustees are regulated as opposed to the self-regulation regime adopted by other prominent trust jurisdictions. Malta has in fact recognised that trustees as well as other fiduciaries are deemed to be gatekeepers to the financial system in view of the fact that the structures which they set up may have wide-ranging effects and uses within the financial sector as a whole. In this respect the MFSA's scrutiny of the trustee and fiduciary service providers is taken very seriously in view of the heightened risks which these sectors may pose. The regulation and supervision of professional trustees and other fiduciaries fall within the remit of the MFSA. The Conduct Supervision function in fact comprises of a team dedicated to the supervision of trustees and other fiduciaries. This team's main objective is to ensure that licensed trustees and fiduciaries have the appropriate structures and systems in place to service clients adequately whilst at the same time preserving their reputation as well as Malta's reputation, taking into account its international commitments. A mixture of tools is utilised with respect to supervision, with onsite inspections being the most frequently utilised method. However, with a view to enhancing the team's supervisory outreach, we are in the process of consolidating a team that will be dedicated to the offsite supervision of this sector.
Within this role, you will be conducting on-site supervision visits to verify that authorised trustees are meeting the requirements of the Trusts and Trustees Act and the relevant rules and regulations. Further to this you will also be:
*Public Call Permit: 616/2019
Malta Financial Services Authority:
The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. It was established by law on 23 July 2002 taking over supervisory functions previously carried out by the Central Bank of Malta, the Malta Stock Exchange and the Malta Financial Services Centre. The Authority is a fully autonomous public institution and reports to Parliament on an annual basis.
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