Head of Financial Stability

Malta Financial Services Authority is currently looking to recruit a Head of Financial Stability to join their team on a full-time basis.

About the Department:
The Financial Stability function contributes to the safeguarding of the financial sector through the identification and mitigation of current and emerging risks that could potentially cause a significant strain on the soundness and resilience of the sector. A cross-sectoral approach is applied in the execution of the functions’ risk oversight and analytical responsibilities, although specific attention is given to individuals or groups of institutions which have a large systemic footprint. In collaboration with other macroprudential authorities, the function also contributes to policy recommendations and implementation at the domestic and EU level and interacts with international stakeholders – such as the ECB, ESRB, IMF and credit rating agencies about their respective remit.

The Authority is formally mandated by Article 4(b) of the Malta Financial Services Authority Act to safeguard financial stability in collaboration with the Central Bank of Malta.

About the Role
The key accountabilities for the role are set out below:

• Lead, coach and manage the financial stability team: providing direction and oversight and managing the unit`s headcount, budget, workflow and risk, while supporting talent and driving high-performance
• Monitor, analyse and evaluate developments in the financial services sector for financial stability risks; raise the appropriate papers, presentations and risk reports, and recommend relevant policy and risk mitigation measures
• Identify financial stability and systemic risks potentially or otherwise impacting the financial sector in Malta; engage with supervisory teams and other MFSA functions on the factors determining these risks, and recommend actions to address them in a timely manner
• Undertake research and macroeconomic modelling, using quantitative and qualitative methods, supporting the team on scope determination, model design and eventual delivery of final outputs
• Ensure active participation in national and EU fora about financial stability matters and assist/contribute to the ongoing development of the macroprudential policy framework at the national and European levels
• Deliver on the strategic objectives and priorities of the MFSA, engaging and leading direct reports and other stakeholders to coordinate the timely and successful delivery and quality of outputs
• Coordinate and support MFSA meetings with credit rating agencies, IMF and other external stakeholders, acting as a point of reference for the MFSA in liaison with senior officials, and providing quality inputs on financial stability and macro-prudential matters
• Work collaboratively with other units of the MFSA, notably supervisory units and data management teams
• Undertake any other duties and assignments delegated by the Chief Officer/Senior MFSA executives in line with the unit’s remit and/or the Authority`s exigencies.

About You:
We are looking for candidates with solid academic background in Economics, Statistics or other related background which may be considered relevant for 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. A post-graduate degree in a related area would be considered an asset.

You will also possess a minimum of seven (7) years working in a similar senior role and preferably twelve (12) years in a senior role in the financial services sector.

If you do not have the necessary academic or professional qualifications, but you have at least fourteen (14) years of relevant experience, we would still be interested in speaking with you.

The ideal candidate should have:

• Strong leadership qualities and behaviours in line with MFSA core values
• Extensive knowledge/experience of the macro-prudential regulatory landscape and its impact on MFSA licence holders
• Experience and/or exposure to regulatory reporting in areas such as stress testing, capital planning, prudential supervisory reporting, asset and liability management, climate risk, interest rate risk etc
• Significant understanding of the financial services environment
• Internal and external stakeholder management at all levels
• Excellent written and verbal communication skills.

Other 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 at www.ncfhe.gov.mt under the 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 www.mfsa.mt.

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: 564/2024