Closing date: 29/06/2019
Malta Financial Services Authority is looking to recruit an Analyst
to join their On Going Supervision Team on a full-time basis.
About Banking Supervision Unit:
The Banking Supervision (BS) of the MFSA is entrusted with the on-site and ongoing surveillance of licensed banks and non-bank financial institutions (FIs) following the issue of their licence from the Authorisation Unit. The section carries out supervision of Significant Institutions (SIs) together with the European Central Banks through the Single Supervisory Mechanism (SSM). In addition to SIs, Less Significant Institutions (LSIs) are supervised through the SREP procedures. The team employs persons with a banking background, but also legal and IT professionals to support policy and supervisory work.
The Analyst in Grade 7 will undertake analytical duties related to on-site inspections conducted by Banking Supervision. The selected applicant would be required to undertake some or all of the following duties:
- Form part of joint on-site inspection teams on ECB instigated Missions at SIs comprising team members from the ECB itself and/or other SSM jurisdictions. On the other hand, he/she would also be required to form part of MFSA instigated on-site inspections at LSIs and FIs as part of an MFSA inspection team. An analyst may also be required to lead teams on certain inspection exercises at small LSIs and possibly FIs, depending on the exigencies of the Section. The main purpose of these periodic on-site Missions/inspections is to monitor the level of compliance with applicable regulatory standards of the licence holders and eventually the regulatory obligations emanating from the ECB/local banking and financial institutions legal framework.
- Take part in meetings with bank/FI officials during the course of on-site inspections or in anticipation and as a follow-up to such onsite inspections. In addition, the selected applicant would be required to review documentation during an on-site inspection; analyse such documentation and contribute towards the compilation of relative reports and assessments.
- Lead an on-site inspection, the selected applicant will be expected to plan the visit, liaise with his team members continuously before, during and post the on-site review and coordinate the work done by the whole team in order to draw up the on-site inspection report following the end of the review.
- Involve himself/herself in ‘ad hoc’ assignments related to specific regulatory and supervisory issues that arise from time to time and to report on the outcome of such assignments as may be appropriate and necessary.
- Share information and assist other sections within the Banking Supervision and also other functions within the Authority.
- Represent the Authority or contribute towards the operation of regulatory committees and working groups operating within the SSM, EBA or similar overseas regulatory bodies and also within the local financial services sector.
- Handle any other duties as assigned by the Head or any other delegate depending on the exigencies of the Banking Supervision and the Authority.
How to apply or query further information:
- We are looking for candidates with a solid academic background in Banking & Finance or Information Technology or Accountancy or Economics and/or in another financial service related subject.
- 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.
- A relevant post-graduate degree will be considered as an asset.
- You will also possess a minimum of three (3) years of working experience in the area related to the role. Candidates with longer working experience relevant to the role will be preferred.
- If you do not have the necessary academic or professional qualifications but you have at least seven (7) years of relevant experience within the financial services environment, we would still be interested in speaking with you.
Candidates are to forward a copy of their Curriculum Vitae (C.V.) and an accompanying covering letter providing the motivation for the application.
Other Important Information:
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 the comparability of qualifications issued by the Malta Qualifications Recognition Information Centre (MQRIC). Applicants should do so preferably at the 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 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.
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.