The specific information being provided below is in addition to and complements the basic details included in the relevant public call for the vacancy in question.
The Banking Supervision Unit
The Banking Supervision Unit (BSU) of the MFSA is entrusted with the on-site and off-site surveillance of licensed banks and non-bank financial institutions.
Purpose behind the Recruitment
Through this recruitment, the MFSA is looking for applicants with a related academic background and preferably with adequate experience in the financial services sector. This recruitment is required to increase the current pool of internal expertise in this particular area in view of the integration within the Single Supervisory Mechanism (SSM). The recruitment will cater for the substantially increased demands arising from the supervisory function between the European Central Bank (ECB) and inter alia the MFSA through the BSU, to undertake all the processes, procedures, tasks and methodologies as laid down in the ECB’s Framework Regulation and Supervisory Manual. Applicants are also being sought in view of the MFSA’s responsibilities arising from the oversight of non-SSM institutions.
- A University of Malta Honours Degree or equivalent qualification in Law (LL.D) or a comparable recognised qualification in Law at NQF level 6 or better duly certified by the Malta Qualifications Recognition Information Centre (MQRIC)*.
- Possession of proven work experience within a relevant environment – preferably in banking or financial services compliance - would be considered an asset.
The Analyst Grade 1 will be involved in all aspects falling within the supervisory
oversight of the Unit, including:
- Developing Banking Rules applicable to licence holders (credit and financial institutions) to address market developments and legislative change arising from EU legislation in these sectors;
- Assisting in the preparation of replies relating to EU proposals as well as eventual transposition of EU legislation into Maltese legislation;
- Dealing with day-to-day compliance issues emanating from the ongoing supervision process of credit and financial institutions’ licence holders;
- Assisting the Data Protection Officer in carrying out compliance duties in observance of the Data Protection Act and the General Data Protection Regulation (GDPR);
- Any other duties as may be assigned, including participation as may be required in the On-site and Off-site supervision of firms falling within the supervisory remit of the Unit;
- Attending and participating as may be required in local and overseas training, meetings and working groups particularly those relating to the EBA, ECB, ESRB and BIS and other European regulatory bodies; and
- Other ad hoc legal related duties as may be required by the Director and/or the senior management officials of the Unit from time to time.
Soft Skills Required
- ability to multi-task and to meet strict deadlines
- well developed written and verbal communication skills
- capable of working within a multi-disciplinary environment
- ability to work within a team
- ability to listen actively and to work on one’s initiative when necessary
- a high degree of self confidence
- good negotiation skills