Job vacancy: Senior Manager (Investment Services Supervision) within Securities and Markets Supervision
Job code: SMS/039/2020
*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 Securities and Markets Supervision:
The Securities and Markets Supervision Function is responsible for supervising investment services license holders, collective investment schemes, trading venues, central securities depositaries, financial and non-financial entities falling under the scope of EMIR and recognised private collective investment schemes, registered tied agents and recognised administrators. This Function is also responsible for the regulation and oversight of activities in capital markets including the processing of applications for admissibility to listing on Regulated Markets, the processing of notifications in terms of the Securitisation Act, the supervision of the continuing obligations of Listed Companies on Regulated Markets in Malta, the supervision of the markets to identify any market abuse and to carry out any appropriate reviews where applicable.
The MFSA is looking for a talented senior manager to take responsibility of a dedicated team of funds and investment firms supervisors within Securities and Markets Supervision. The role primarily involves supervision of collective investment schemes, fund managers, investment firms, recognised persons and depositories. The chosen candidate will also be responsible to handle and deal with challenging licence holders falling under enhanced supervision and to take appropriate supervisory action or raise the case to Enforcement depending on the nature of the case presented. The Senior Manager – Investment Services Supervision will be reporting to the Head and Deputy Head of the Securities and Markets Supervision.
We are looking for prospective candidates, who are able to:
- Lead, mentor and manage a dedicated team of supervisors of funds and investment services licence holders by adopting a proactive approach to risk-based supervision, being responsible for the team’s professional development and ensuring that optimal performance is maintained;
- Lead a number of onsite inspections involving licence holders under enhanced supervision and ensuring that onsite visits are carried out according to the high standards expected;
- Review post-visit letters and ensure that such letters are issued within reasonable timeframes;
- Ensuring early identification of problematic licence holders and determine the appropriate action to be taken in the circumstance and/ or escalate accordingly by using experience, knowledge and professional judgement to analyse such complex cases;
- Prepare and sign-off sensitive and complex internal reports submitted to inter alia the MFSA’s Executive Committee and/ or Regulatory Committee and follow-up actions and decisions accordingly;
- Give material input at formulating supervisory strategy and ensure responsibility and ownership of strategic initiatives;
- Mentor, act as a reference point and train direct reports as well as provide upward support to the Deputy Head and Head of the Function as may be required.
- The role calls for candidates with a University of Malta Honours Degree or equivalent qualification in Accountancy or in Banking & Finance or in other Finance related subjects or a Degree in Law (LL.D) or a comparable recognised finance qualification at NQF level 6 or better duly certified by the Malta Qualification Recognition Information Centre (MQRIC). Possession of a Post Graduate Degree in a discipline relevant to the post would be considered an asset.
How to apply or query further information:
- Applicants are expected to have work experience in the financial services sector for a period of preferably not less than seven (7) years;
- Applicants should be able to demonstrate in-depth knowledge of regulatory requirements applicable in the area of funds and fund managers, including the Investment Services Act;
- Excellent people management skills with the ability to achieve supervisory objectives through own intervention/effort as well as that of his/her direct reports;
- An analytical mindset with the capacity to make sound and well-grounded judgements in high risk and high impact situations;
- Strong written and verbal communications skills with the ability and credibility to engage with senior officials within the Authority;
- Capability to train, coach and mentor members of the team in line with their professional development objectives.
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.
*Public Call Permit: 148/2020
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.