Head of Risk

Job Description
Job vacancy: Head of Risk within Risk Management
Job code: RM/003/2021

About Risk Management:
Risk Management is responsible for the analysing and mitigating the risks within the MFSA. The Risk Management team is responsible for providing the strategic input and direction with regards to the risk appetite and ensuring that the defined risk appetite is compliant with the requirements set out by the European Supervisory Authorities (ESAs). The Risk Management section is also responsible for ensuring that the internal processes and procedures of the MFSA comply with European Standards and offers recommendations on how these can be improved through risk and quality perspectives. 

The Role:

• To oversee the running of the operations within the Risk Management function including the delivery of timely and efficient service to internal and external stakeholders; 
• To manage the Risk Management team to ensure the appropriate distribution of work tasks and the achievement of the set KPIs for the individuals and for the team;  
• To oversee and participate in general management functions, including management meetings, participation in the relevant Committees and Councils, the recruitment of team members, and the handling of the Authority's performance management process for the Risk Management function;
• To provide strategic input and direction in relation to the risk appetite for the Authority, and ensuring that operational activities are carried out in alignment with the set risk appetite; 
• To ensure that the defined risk appetite is compliant with requirements as set by the European Supervisory Authorities (ESAs) including the ECB, EBA, EIOPA and ESMA; 
• Liaise with the senior management team, offering contribution and support in relation to risk and quality standards; 
• Oversee the setting up and maintenance of the MFSA Quality Standards;
• Review internal processes and procedures and offer recommendations as to how these can be improved through risk and quality perspectives; 
• Promote a culture of quality and accountability in such a way as to allow the Authority to establish high standards of trust;   
• To handle responsibilities for budgeting (capital expenditure and operational expenditure) in relation to Risk Management. 

About You:

• We are looking for candidates with a solid academic background in Risk Management or in another related background;
• 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 eight (8) years working in a similar senior role and preferably with twelve (12) years in a senior role in the financial services sector. 

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 www.ncfhe.org.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 www.mfsa.com.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.  

*Job Permit number: 719/2021

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.