11 months ago
Malta Financial Services Authority
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About Resolution Unit
Resolution is responsible for drafting resolution plans for banks and certain investment services firms, advise the Resolution Committee on whether an institution should go into liquidation or resolution and the application of resolution tools when necessary. Resolution interacts on an on-going basis with European institutions and local Authorities. In order to retain its operational independence from the supervisory function, the Act contemplates the creation of a Resolution Committee and its underlying structures. The Resolution Committee shall have all the powers assigned to it by the Resolution Authority under the MFSA Act. The Resolution functions will be carried out as contemplated by the Act and as provided for by the Resolution Committee. Furthermore these structures will also have to administer the requirements emanating from the Bank Recovery and Resolution Directive (BRRD), Single Resolution Mechanism Regulation (SRMR), the Recovery and Resolution Regulations (RRR) and the Intergovernmental Agreement (IGA) on the transfer and mutualisation of contributions to the Single Resolution Fund.
Within this role you will join a multidisciplinary team where you will be providing legal and policy input and join fully in the various duties that are undertaken by Resolution including the following tasks as necessary:
- Cooperating with senior colleagues responsible for the legal area to provide legal advice to the Resolution Committee and underlying structures. The appointee will cooperate with the other authorities to ensure the legal quality and consistency of the BRRD as transposed;
- Assisting in the transposition of and implementing any changes to the BRRD into national law, drafting of regulations, legislation & amending existing legislation as necessary;
- Liaising with both local and foreign authorities in providing input relating to draft technical standards and guidelines and recommendations, and their implementation;
- Drafting of memoranda of understanding negotiated from time to time;
- Monitoring EU legislation in resolution related areas, participating in meetings and providing input when necessary;
- Representing the Resolution Committee during legal proceedings at any court or tribunal as may be necessary from time to time and drawing up of legal documents as may be necessary;
- Representing the Resolution Committee in meetings that are held locally or overseas and assisting with the analysis and preparation of comments on documents discussed in various working groups and task forces as required;
- Participating and coordinating of meetings of the Resolution Committee;
- Providing legal input to documents and reports prepared by Resolution;
- Get involved in on-site compliance visits as necessary;
- Providing input to policy related documents and discussions;
- Undertaking ad-hoc assignments related to resolution aspects, that may arise from time to time and to report on the outcome of such assignments as may be appropriate and necessary.
We are looking for candidates with solid academic background in Law. The role requires a University of Malta Degree in Law (LL.D or Master of Advocacy level) or a comparable recognised legal qualification at National Qualification Framework Level 6 or better duly certified by the Malta Qualifications Recognition Information Centre (MQRIC), together with possession of a warrant to practice in the Courts of Malta. Possession of a post graduate degree in a discipline relevant to the financial services sector would be considered an asset.
You will also possess the necessary working experience in a legal environment and/or within the financial services area for a number of years. Candidates with at least three years working experience relevant to the role will be preferred.