Job vacancy: Analyst within Financial Crime Compliance
Job code: FCC/020/20
About Financial Crime Compliance:
Financial Crime and Compliance is responsible also for anti-money laundering and combating the financing of terrorism (AML/CFT) supervision of MFSA licence holders. This is carried out jointly with the Financial Intelligence Analysis Unit (FIAU) in a coordinated and integrated manner and with a risk-based approach. Supervision consists in the monitoring of compliance by MFSA licence holders with the requirements of the Prevention of Money Laundering Act, Prevention of Money Laundering and Funding of Terrorism Regulations and the FIAU Implementing Procedures. Another remit of Financial Crime and Compliance includes also the monitoring of developments in the area of international (financial) sanctions issued from time to time by the United Nations Security Council, the European Union and through national legislation. This function seeks to ensure that licence holders are aware, understand and comply with the requirements of international sanctions and other restrictive measures including sanctions lists, and provides them with information and guidance thereon. Financial Crime and Compliance also performs supervision on behalf of the Sanctions Monitoring Board which is the national entity tasked with the supervision in relation to Financing of Terrorism and the Financing of Proliferation of Weapons of Mass Destruction.Additionally, Financial Crime and Compliance also coordinates the collection of information from the various supervisory units and together with its own information, formulates the MFSA's input in relation to the local financial sector's Risk Assessment.Additional remits of Financial Crime and Compliance are the delivery of various forms of training to both internal supervisory units within MFSA and also to external bodies; and helping other regulatory bodies including the local Law-Enforcement and Judicial authorities in collecting information in respect of various Court Orders, Investigation Orders and Requests for Information issued by the Courts of Justice and the Police Corps respectively, from various other Units within MFSA and providing the relative information to the aforementioned authorities.
The Analyst will form part of a supervisory team of analysts. The duties of the Analyst shall primarily consist in the supervision of AML/CFT compliance by financial services licence holders, including trustees and company service providers. The main purpose is to monitor the level of compliance with the applicable AML/CFT law, regulations and FIAU Implementing Procedures.
The Duties and Responsibilities of the Analyst shall include:
- Data collection from subject persons, FIAU and MFSA Supervisory Units;
- Assisting with the analysis of data;
- Assisting in risk assessment;
- Assisting in the identification of supervisory priorities based on risk;
- Coordination of joint supervisory work with FIAU;
- Coordination with Supervisory Units;
- Coordination with subject persons;
- Conducting including taking a lead role in on-site supervisory visits;
- Carrying out pre-visit preparatory work;
- Carrying out post-visit work – preparation of visit reports and findings letters;
- Attending meetings with subject persons as necessary;
- Attending FIAU Compliance Monitoring Committee meetings;
- Attending training / technical meetings at FIAU;
- Compiling supervisory information for statistical purposes;
- Replying to requests for information by FIAU and police;
- Other duties as may be assigned from time to time.
How to apply or query further information:
- We are looking for candidates with a solid academic background in financial services or in law or in another related background with a good knowledge of Maltese anti-money laundering and combating the financing of terrorism legislation and ideally of international AML/CFT standards. A relevant Post-Graduate Degree would be considered an asset;
- 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 working in the area of financial services. 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 within compliance or an investigative and/or analytical 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 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 interview. Details can be obtained by accessing the National Commission for Further and Higher Education website on ncfhe.gov.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. 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.