Job vacancy: Analyst (Ongoing Supervision) within the Banking Supervision Unit
Job code: BS/004/18
About Banking Supervision Unit:
The Banking Supervision (BS) within the MFSA is entrusted with the on-site and ongoing surveillance of licensed banks and non-bank financial institutions 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). Less Significant Institutions (LSIs) are supervised directly by Banking. The team employs persons with a banking background, but also legal and IT professionals to support policy and supervisory work.
The MFSA is looking to recruit Analysts to work in teams responsible for carrying out ongoing supervision of an SI or a group of LSIs. The oversight of banks is carried out in line with the Single Supervisory Mechanism (SSM) Supervisory Manual. Through the ongoing supervision of licensed entities, the Authority seeks to ensure the continuous monitoring of relevant developments in the banking sector. This will contribute to the Authority’s ability to fulfil its functions at law, which include, but are not limited to, promoting the general interests and the legitimate expectations of consumers of financial services. The duties of analysts in the ongoing team involve:
- Working on the Supervisory Review and Evaluation Process (SREP);
- Analysis of statutory supervisory returns and bank documents including financial statements and the banks’ ICAAP and ILAAP documents;
- Other ad hoc supervision related duties as may be required by the Senior Management of the Office from time to time;
- Represent the MFSA at various working groups, task forces and similar groups, including those at the ECB and the EBA.
How to apply:
- We are looking for candidates with good analytical skills, a solid academic background in Banking & Finance 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.
- 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.