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Analyst – Offsite and Risk Analysis within Financial Crime Compliance - MFSA

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​Financial Crime Compliance is a dedicated AML/CFT Supervisory Function established to strengthen the MFSA's role in preventing the use and involvement of Licence Holders in money laundering and financing of terrorism. The function is split into two focused teams; Onsite & Offsite. The Onsite Team operates alongside the FIAU in conducting AML related supervisory inspections on Licence Holders. The Offsite and Risk Analysis Team is dedicated to mitigating and detecting risks through constantly monitoring authorised persons.

The FCC's Offsite Team has extended the Function's supervisory reach by including elements of financial crime compliance within the compliance visits conducted by other Prudential and Conduct Teams. These elements take the form of a MLRO interview, where MFSA Officials probe MLROs on matters related to financial crime. Additionally, the Offsite and Risk Analysis Team communicates with Authorisation Teams for each Prudential Function. This enables the function to embed elements of financial crime compliance at the initial stages of the regulatory lifecycle of the Authority's Licence Holders.

Additionally, Financial Crime and Compliance also coordinates the collection of information from the various supervisory units and together with its own information, formulates the MFSA's input in relation to the local financial sector's Risk Assessment. Other remits of Financial Crime and Compliance are the delivery of various forms of training to both internal supervisory units within MFSA and also to external bodies. Furthermore, the Offsite team also coordinates information from various Functions within MFSA in respect of various Court Orders, Investigation Orders and Requests for Information issued by the Courts of Justice and the Police Corps respectively.

The Role

The Analyst will form part of the Offsite and Risk Analysis Team. The duties and responsibilities of the Analyst shall include:

  • Data collection from subject persons, FIAU and MFSA Supervisory Units;

  • Assisting with analysis of data;

  • Assisting in risk assessments;

  • Assisting in the identification of supervisory priorities based on risk;

  • Preparing and conducting training for supervisory functions and Subject Persons;

  • Reviewing proposed authorisation memos;

  • Conduct interviews with current and proposed Money Laundering Reporting Officers (MLROs);

  • Preparing memos for select committees;

  • Coordination of joint supervisory work with the FIAU;

  • Coordination with Supervisory Units and subject persons;

  • Attending meetings with subject persons as necessary;

  • Preparing policies and procedures;

  • Attending training/technical meetings at the FIAU;

  • Compiling supervisory information for statistical purposes;

  • Replying to requests for information by the FIAU, the Police and Asset Recovery Bureau;

  • Coordination and reporting of thematic reviews;

  • Reviewing legal and policy papers; and

  • Other duties as may be assigned from time to time.

About You

We are looking for candidates with a solid academic background in financial services/accountancy/ law/risk or in another related background. A sound knowledge of anti-money laundering legislation and other financial services legislation and familiarity with the financial services regulatory framework would be considered as 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 in the area of financial services ideally with experience in financial services compliance environment or in law. 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 a compliance or an investigative and/or analytical environment, we would still be interested in speaking with you.