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Chief Officer within Enforcement

  • Location


  • Sector:

    Financial Services

  • Contract Type:


  • Job Reference:


  • Published:

    9 months ago

  • Expiry:

    12 Jan 00:00

  • Client Details:

    Malta Financial Services Authority

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About Enforcement

The Enforcement Function is responsible for conducting investigations of licence holders who have, or are suspected of having, committed serious compliance failures, serious misconduct or any other breaches of the law. This function is cross-sectorial, covering all areas falling under the MFSA's supervisory function. Enforcement, furthermore, investigates the actions of persons carrying out financial services activities without having the necessary licence or authorisation. Enforcement also investigates suspicious or dubious schemes and takes the appropriate action in such cases, including reporting suspicion of criminal activities to the relevant authorities.

The Role

The Chief Officer responsible for Enforcement will be a member of the MFSA’s Executive Committee. Within this capacity you will be expected to: 

  • Ensure that cases are investigated effectively and in a timely manner, consistent with the MFSA’s enforcement strategy;
  • Ensure the delivery of Enforcement responsibilities by working collaboratively with the MFSA’s regulatory functions to deliver effective risk-based regulation;
  • Offer strategic direction to the Enforcement Function for the most effective utilisation of the Function's resources by periodically looking at records, reports, documents and operations of the Enforcement Function to assure efficiency of operation, good supervision good work flow, efficient utilisation of staff resources, space and equipment;
  • Manage budgeting (capital expenditure and operational expenditure) in relation to Enforcement;
  • Ensure that all matters relating to the Function are executed in a thorough, timely and efficient manner in line with the legal framework and the Authority's risk appetite;
  • Develop internal procedures that are required for effective enforcement. 
  • Monitor the effectiveness of the Enforcement Function's engagement, selection and assessment of cases, decision making and timeliness;
  • Ensure adequate preparation and planning for enforcement workloads, new enforcement strategies, changes in regulatory policies and case selection;
  • Manage Enforcement to ensure the appropriate distribution of work tasks and the achievement of the set KPIs for the individuals and for the team;
  • Ensure all Enforcement processes and systems are fit to for the purpose of carrying out effective investigations, determine contraventions of financial services legislation and implementation of disciplinary sanctions against individuals and firms;
  • Oversee and participate in general management functions, including management meetings, the recruitment of team members (where necessary), and the handling of the Authority's performance management process for the Enforcement Function;
  • Coordinate and liaise with the respective regulatory and operational Functions within the MFSA, police force and others as may be required;
  • Provide clear and timely communication to firms/individuals on the requisite information being sought, and updates on progress;
  • Represent the Authority/Function and participate in local and international fora on matters related to enforcement. You will also be expected to take a proactive approach to build strong relationships with a diverse set of stakeholders including firms, representative bodies, local enforcement bodies, consumers, Government and other international regulators;
  • Handle any other duties as assigned by the Chief Executive Officer.
About You

We are looking for candidates with a solid academic background in Accountancy, Banking & Finance, Law (LL.D) or other finance related background. Your academic qualifications in a relevant field of study will need to be at least at National Qualification Framework Level 6, duly certified by the Malta Qualifications Recognition Information Centre (MQRIC) or a widely recognised professional qualification at a comparable level. 

You will also have a minimum of eight (8) years' prior working experience in a senior and related area. 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.

To succeed within this role it is imperative that you understand and have experience of the legal system in Malta and the EU as well as in-depth regulatory knowledge and legislative framework for financial services and financial services regulation in Malta and the EU. Experience in law enforcement and a solid understanding of  the role of enforcement in supporting financial services markets is also important. You must also keep the public interest role of a regulator in an international financial services centre at the forefront of everything you do. 

You will need to have excellent communication skills and the ability to pass on the purpose of protecting consumers and enhancing the reputation of Malta’s financial services sector. You should also have experience in dealing with multiple stakeholders and the confidence and to lead and conduct difficult negotiations, the ability to make good decisions based upon sound judgement and analysis of evidence.


*Dear Candidate, kindly note that this role is not managed by Castille. MFSA, in this case, is responsible to manage the application process. In case of any difficulties, feel free to contact brand@castilleresources.com, and we will direct your query to the relevant contact at MFSA.
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