Job Vacancy: Analyst within Insurance and Pensions Supervision within the finance team.
About Insurance and Pensions Supervision
The Insurance and Pensions Supervision is responsible for the prudential supervision of insurance companies, insurance intermediaries, retirement schemes, retirement funds and retirement service providers. The team employs professionals with a varied background and comprises skills relating to insurance, pensions, accounting, legal, quantitative analysis, actuarial, compliance and others.
The selected candidate will play a leading role within multidisciplinary teams of on-site and/or off-site supervisors at the Insurance and Pensions Supervision. The individual will be expected to carry out the following tasks:
- Coordinate and/or undertake duties of an analytical nature in relation to periodic financial data submitted by licence holders in line with their statutory obligations emanating from their operating licences.
- Monitor the business performance of licence holders together with their level of compliance in line with applicable regulatory standards and financial obligations emanating from the Insurance and Pensions legal framework.
- Identify potential risks in relation to operations and capital adequacy.
- Identify any further action that might be necessary on the MFSA’s part as a result of the surveillance process.
- ‘Ad hoc’ assignments related to specific regulatory and supervisory issues related to capital adequacy and solvency that arise from time to time and to report on the outcome of such assignments as may be appropriate and necessary.
- Participate in on site compliance visits.
We are looking for candidates with a solid academic background in Accountancy or a related qualification.
Other important information
- The role calls for an academic qualification in a relevant field of study at National Qualification Framework Level 6 or better, duly certified by the Malta Qualifications Recognition Information Centre (MQRIC) or a widely recognised professional qualification at a comparable level.
- The applicant should also possess a minimum of three (3) years working in a financial or audit environment, ideally in a related area. Candidates with longer working experience relevant to the role will be preferred.
The MFSA is an Equal Opportunities Employer as certified by the NCPE (National Commission for the Protection of Equality) and is committed to a policy of equal opportunity in all aspects of employment and will take care to avoid any form of discrimination in its recruitment procedures. The MFSA reserves the right to withdraw this call at any time and not to select any of the Candidates. It is the responsibility of applicants in possession of qualifications awarded by Universities and other similar institutions outside Malta to produce a recognition statement on comparability of qualifications issued by the Malta Qualifications Recognition Information Centre (MQRIC). Applicants should do so preferably at application stage or otherwise at the preliminary interview should an applicant be selected for such an interview. Details can be obtained by accessing the National Commission for Further and Higher Education website on www.ncfhe.org.mt under MQRIC heading. The MFSA shall ensure that any processing of personal data is in accordance with Regulation (EU) 2016/679 (General Data Protection Regulation), the Data Protection Act (Chapter 586 of the Laws of Malta) and any other relevant European Union and national law. For further details, you may refer to the Data Protection Policy on the MFSA webpage www.mfsa.com.mt. Candidates are to note that the submission of any false statement/s or omission, even if unintended, may lead to the cancellation of their application and may render the candidate’s appointment liable to termination. Furthermore, please note that candidates may be asked to submit any documentation in support of the information provided, including but not limited to, proof of qualifications and Police Conduct Certificates.
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.