Job vacancy: Analyst (Financial Institutions) within the Banking Supervision Unit
Job code: BS/008/18
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 following the issue of their license from the Authorisation Unit. The BS team employs persons with a financial service academic background, but also legal and IT professionals to support policy and supervisory working in the Financial Institutions section focuses its supervisory oversight over entities licensed in terms of the Financial Institutions Act, predominantly comprised of payment and/or electronic money institutions.
The eventual appointee will be appointed as Analyst in Grade 7 level and will be expected to report to the Senior Manager of the Financial Institutions section within Banking Supervision. The eventual appointee will undertake duties of analytical nature and will be responsible for:
- Oversee a portfolio of financial institutions and perform analytical reviews to observe their level of compliance with applicable regulatory obligations;
- Undertake checks to ensure that regulatory returns are being submitted in a timely, accurate and diligent manner and any errors or misrepresentations are taken up with the relevant license holder as a matter of priority;
- Generate periodic off-site reports on the basis of data submitted by financial institutions while assessing trends and signs of potential developments in the industry and raising any recommendations as deemed necessary;
- Engage and address any regulatory issues that may arise in the normal course of the supervised entities’ business to ensure that the level of compliance with applicable regulatory standards is maintained;
- Assist in policy projects and related work (including updating of relevant rules, transposition, issuing guidance notes, dealing with circulars and consultations) in the ambit of the Financial Institutions Act;
- Represent the MFSA at various working groups, task forces and similar groups, including those at the ECB and the EBA;
- Other ad hoc supervision related duties as may be required by the Senior Management of the Unit from time to time.
How to apply or query further information:
- We are looking for candidates with a solid academic background in accountancy, economics, and banking or in another financial services area which may be considered as relevant to this post;
- 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, 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.