Job vacancy: Analyst (Insurance) within Conduct Supervision
Job code: CS/027/2020
About Conduct Supervision:
Conduct Supervision is responsible for the setting up and implementation of the regulatory framework aiming to secure appropriate consumer protection in operations of licence holders in the financial services industry. The Conduct Supervision Function is projecting growth as it is gradually assuming a cross-sectoral remit covering supervision in the conduct of credit institutions, securities, trustees, corporate service providers, as well as insurance undertakings and intermediaries.
Within this role, you will be joining the Insurance Supervision team in the review of the conduct of the respective licence holders. Reporting into the Senior Analyst and the Deputy Head within Conduct Supervision, the individual will be expected to carry out the following tasks:
- Participate in onsite inspections carried out at the premises of insurance undertakings and intermediaries with a view to assess the latter’s adherence to the applicable conduct of business rules;
- Participate in any thematic reviews with respect to the insurance sector;
- Review the soundness of quantitative disclosures made to consumers as part of regulatory requirements;
- Assume responsibility for direct reports;
- Reply to queries from insurance undertakings and intermediaries relating to conduct matters which arise on a day to day basis;
- Represent the MFSA in engagement with internal and external stakeholders;
- Assist in work related to the monitoring of reporting obligations of insurance undertakings and insurance intermediaries;
- Assist in preparation of replies with regards to EU/EIOPA questionnaires;
- Undertake any other tasks as delegated by senior management in line with the exigencies of the Conduct Supervisory Unit and the Authority.
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. 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 experience in the area of financial services, preferably insurance;
- 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.
*Public Call Permit: 234/2020
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.