About the Compensation Schemes
The Depositor Compensation Scheme and the Investor Compensation Scheme have been established to provide a means of protection for customers of failed credit institutions and investment firms. Both Schemes are overseen by a Management Committee appointed by the Malta Financial Services Authority (MFSA). The Schemes are housed within the MFSA.
The Legal Officer will be reporting to the Chairperson and/or Secretary of the Compensation Schemes Management Committee or to any other person the Chairperson/Secretary may delegate for the purpose of assigning duties and responsibilities as applicable to the Grade from time to time. The selected candidate will provide efficient and professional legal services, working in close liaison with the Schemes’ Management Committee and s/he will be expected to participate fully in the various duties that are undertaken by the Management Committee including:
- Provide legal advice to the Depositor Compensation Scheme (DCS) and the Investor Compensation Scheme (ICS) and the Schemes’ Management Committee. S/he will cooperate with the other authorities to ensure the legal quality and consistency of related EU Directives as transposed,
- Liaise with the Competent Authority, Resolution Authority, Central Bank of Malta and other local and foreign authorities (including EBA) by providing input relating to draft technical standards and guidelines and recommendations,
- Monitor EU legislation in financial services compensation related areas,
- Monitor any developments within DCSs and ICSs in other countries which may be relevant to local schemes,
- Keeping abreast of developments in the BRRD and SRM,
- Regular reviews of the DCS and ICS regulations and Handbook,
- Inform banks and investment firms on requirements and review of contributions,
- Regular monitoring of potential liabilities, pledges and contracts,
- Prepare for the requirements regarding home/host co-operation in connection with crossborder branches,
- Preparing the Annual Reports, respond to queries and participate in surveys and questionnaires,
- Provide secretarial services to the Management Committee and taking minutes of meetings,
- Representing the Compensation Schemes during legal proceedings at any court or tribunal as may be necessary from time to time and drawing up of legal documents as may be necessary,
- Representing the Compensation Schemes in meetings, including meetings related with crisis management, that are held locally and/or overseas,
- Undertake ad-hoc assignments related to financial services compensation aspects, that may arise from time to time and to report to the Management Committee on the outcome of such assignments as may be appropriate and necessary.
The selected candidate will possess qualifications including:
- A University of Malta 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)*.
- Warrant to practice in the Courts of Malta.
- Proficiency in the use and handling of Microsoft office or equivalent applications would be considered an asset.
- Proven work experience within the financial services sector as well as familiarity with the relevant local legal and regulatory framework, would be considered an asset. The selected candidate will possess relevant soft skills including:
- ability to multi-task and to meet strict deadlines
- well-developed written and verbal communication skills
- ability to work within a team
- ability to listen actively and to work on one’s initiative
- a high degree of self confidence
- good level of negotiation skills
*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 firstname.lastname@example.org, and we will direct your query to the relevant contact at MFSA.