Job vacancy: Senior Manager (FinPro) within Conduct Supervision in Grade 5
Job code: CS/002/2021
About Conduct Supervision:
Conduct Supervision oversees the way in which regulated entities design their products and services as well as the way in which they manage their relationship with consumers. By setting up a regulatory framework that secures appropriate customer protection, the Function ensures that clients of financial services are treated fairly, honestly, and professionally by regulated entities.
The Financial Promotion and Risk Assessment
Team (FinPro) deals with conduct matters on a cross-sectoral basis i.e. investments; insurance and banking sectors. The work carried out from a supervisory aspect mainly focuses on the following areas:
- Take responsibility for and supporting Conduct Supervision's top management in assessing the policy impact of new/revised applicable EU Directives and/or Regulations;
- Ensuring that the necessary updates and amendments are made to the Conduct of Business Rulebook on an ongoing basis and as required;
- Review cross-sectorial Financial Promotions of applicable Regulated Persons and action on any uncompliant marketing material;
- Create and implement a risk-based review of Financial Promotions of applicable Regulated Persons;
- Coordinating the collation of Conduct Related Data on a cross-sectorial level (Banking, Insurance & Investments) as well as the analysis of such information to identify conduct related trends to assess any potential conduct risk; and
- Taking responsibility for coordinating industry replies in relation to Conduct of Business Rulebook queries and queries from other regulatory bodies.
This is a challenging cross-sectoral role at the hub of the Conduct Supervision Function, which focuses on data reporting & analysis and ex-post review of marketing materials.
Some of the tasks you will be handling will include:
- Taking a role in the MFSA's work with the European Supervisory Authorities (‘ESA') participating in committees and cooperating in their work so far as it impacts the Maltese financial services sector;
- Overseeing data collection across the sectors to comply with ESA requests and reporting requirements;
- Responsibility for the day to day running of the Financial Promotion and Risk Assessment team, training and overseeing the team members, take decisions within your remit, and escalate as appropriate;
- Interacting with the Senior Management with respect to technical matters and other aspects concerning the conduct of business regulatory requirements;
- Leadership and mentoring of the FinPro team; and
- Any other tasks as delegated by Senior Management.
How to apply or query further information:
- We are looking for candidates with a solid academic background in financial services or related areas. You will need to have academic qualification/s 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 relevant post-graduate degree will be considered an asset.
- You will also have a minimum of eight (8) years of working experience relevant to the role. 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 fifteen (15) years of relevant experience, we would still be interested in speaking with you.
- Candidates will also be required to demonstrate in-depth knowledge of regulatory requirements applicable to one of the securities, banking, and insurance sectors, with a foundation-level knowledge of the regulatory framework for the other sectors; together with managerial skills and experience managing a team.
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 on 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. 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: 320/2021
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.