Enforcement - Enforcement is responsible for reviewing the actions and where necessary conducting investigations of licence holders who have or are suspected of having committed serious compliance failures, serious misconduct or any other serious breaches of the law. This function has a cross sectorial enforcement role and covers all areas falling under the MFSA’s supervisory function. Enforcement furthermore investigates the actions of persons carrying on financial services activities without having the necessary licence or authorisation. Enforcement investigates also suspicious or dubious schemes and takes the appropriate action in such cases, including reporting suspicion of criminal activities to the police.
AML/CFT - Enforcement is responsible also for anti-money laundering and combating the financing of terrorism (AML/CFT) supervision of MFSA licence holders. This is carried out jointly with the Financial Intelligence Analysis Unit (FIAU) in a coordinated and integrated manner and with a risk-based approach. Supervision consists in the monitoring of compliance by MFSA licence holders with the requirements of the Prevention of Money Laundering Act, Prevention of Money Laundering and Funding of Terrorism Regulations and the FIAU Implementing Procedures.
International Sanctions - The remit of the Enforcement includes also the monitoring of developments in the area of international (financial) sanctions issued from time to time by the United Nations Security Council, the European Union and through national legislation. This function seeks to ensure that licence holders are aware, understand and comply with the requirements of international sanctions and other restrictive measures including sanctions lists, and provides them with information and guidance thereon.
The Analyst (Anti-Money Laundering & Combating Financing of Terrorism - Supervision) will form part of a supervisory team of analysts. The duties of the Analyst 2 shall primarily consist in the supervision of AML/CFT compliance by financial services licence holders, including trustees and company service providers. The main purpose is to monitor the level of compliance with the applicable AML/CFT law, regulations and FIAU Implementing Procedures.
The duties and responsibilities of the Analyst (Anti-Money Laundering & Combating Financing of Terrorism - Supervision) shall include:
- Data collection from subject persons, FIAU and MFSA Supervisory Units
- Assisting with analysis of data
- Assisting in risk assessment
- Assisting in the identification of supervisory priorities based on risk
- Coordination of joint supervisory work with FIAU
- Coordination with Supervisory Units
- Coordination with subject persons
- Conducting including taking a lead role in on-site supervisory visits
- Carrying out pre-visit preparatory work
- Carrying out post-visit work – preparation of visit reports and findings letters
- Attending meetings with subject persons as necessary
- Attending FIAU Compliance Monitoring Committee meetings
- Attending training / technical meetings at FIAU
- Compiling supervisory information for statistical purposes
- Replying to requests for information by FIAU and police
- Other duties as may be assigned from time to time.
- We are looking for candidates with solid academic background in financial services or in law or in another related background with a good knowledge of Maltese anti-money laundering and combating financing of terrorism legislation and ideally of international AML/CFT standards. A relevant PostGraduate Degree would be considered 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. 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.