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Analyst Grade 2 within the Resolution Unit

Analyst Grade 2 within the Resolution Unit

Job Title: Analyst Grade 2 within the Resolution Unit
Contract Type: Permanent
Location: Malta
Industry:
Reference: 92/2018
Job Published: February 27, 2018 13:10

Job Description

Vacancy of Analyst Grade 2 within the Resolution Unit

Introduction

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 Resolution Unit

The Malta Financial Services Authority has been appointed as the Resolution Authority in Malta following the publication of amendments to the Malta Financial Services Authority Act Cap. 330 (the Act) on the 17 July 2015.

In order to retain its operational independence from the supervisory function, the Act contemplates the creation of a Resolution Committee and a Resolution Unit.  The Resolution Committee shall have all the powers assigned to it by the Resolution Authority under the Bank Recover and Resolution Directive (BRRD).  The Resolution Unit will carry out functions assigned to it under the Act as well as those assigned to it by the Resolution Committee.  Furthermore these structures will also have to administer the requirements emanating from the Single Resolution Mechanism Regulation and the Intergovernmental Agreement on the transfer and mutualisation of contributions to the Single Resolution Fund (IGA).

The following are the main functions undertaken by the Resolution Unit:

  • Administer the BRRD, SRMR and the Recovery and Resolution Regulations
  • Assess whether an institution is failing or likely to fail
  • Drawing up of resolution plans for banks and certain investment services firms in Malta, in collaboration with the competent authority. Such plans have to be reviewed and updated annually.
  • Assessment of resolvability, in cooperation with the competent authority.
  • Assessment of recovery plans for banks and certain investment services firms in Malta in consultation with the competent authority. Such plans have to be reviewed and updated annually.
  • Cooperate, liaise and exchange information with the other units within the MFSA responsible for supervision of credit institutions and investment firms.
  • Participate in the Crisis Management Task Force (CMTF) and Domestic Standing Committee (DSC) meetings.
  • Liaising with both local and overseas authorities.

Purpose behind the Recruitment

Through this recruitment, the MFSA is looking for experienced applicants with a finance related academic background and a solid experience in the financial services sector, preferably in the banking and investment services sectors.

The eventual appointee will be joining a small multidisciplinary team within the Resolution Unit, and be involved amongst others in drawing up resolution plans, undertaking resolvability assessments and implementing resolution schemes.

Qualifications Required

  • A University of Malta Honours Degree or equivalent qualification in an area which is considered relevant to the functions and duties related to this post or a comparable recognised qualification in Finance at NQF level 6 or better duly certified by the Malta Qualifications Recognition Information Centre (MQRIC)*.
  • Possession of a Post Graduate Degree in a discipline relevant to the financial services sector would be considered an asset.

Experience Required

  • Work experience, ideally within the financial services sector for a number of years, with a required minimum of three (3) years and preferably with five (5) years;
  • Applicants should be able to demonstrate knowledge of regulatory requirements applicable to the financial services sector;
  • Applicants should have the ability to manage competing priorities and a challenging workload;
  • Relevant work experience and training on banking supervision and investment services would be considered an asset.

Duties

The Analyst Grade 2 will be:

  • Responsible for drafting resolution plans 
  • Responsible to analyse and discuss recovery plans with the Senior Manager and the Supervisor given the implications that such plans may have on the resolution plans
  • Assisting with the resolvability assessments
  • Undertaking assurance checks relating to the calculation of contributions by institutions which fall under the scope of the SRB
  • Calculating the contributions for the institutions which do not fall in the scope of the SRB
  • Undertaking assurance checks on the setting of MREL/TLAC through the analysis of the Liability Data Template
  • Assisting in the formulation of simplified obligations for the Less Significant Institutions under the Resolution Committee’s remit
  • Assisting in the implementation of the EBA’s Regulatory Technical Standards
  • Participation and co-ordination of meetings
  • Carry out work related to EU developments
  • Undertake ad-hoc assignments related to resolution matters that may arise from time to time and to report to the Director on the outcome of such assignments as may be appropriate and necessary.

Soft Skills Required

  1. ability to multi-task and to meet strict deadlines
  2. well developed written and verbal communication skills
  3. ability to work within a team
  4. ability to listen actively and to work on one’s initiative
  5. a high degree of self confidence
  6. sound analytical and good level of negotiation skills
  7. ability to conduct interviews of persons and to carry out inspections.

*Dear Candidate, kindly note that this role is not managed by Castille. The client, 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 this company.

Applications will be received by not later than Monday, 26th March 2018.