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 duties of the Senior Analyst shall primarily be related to enforcement and sanctions matters related to the Single Supervisory Mechanism (SSM) of the European Central Bank (ECB) and shall include:
- SSM-related investigations and enforcement action.
- Coordination and cooperation with the ECB enforcement and sanctions business area.
- Coordination and cooperation with the Banking Supervision Unit and Joint Supervisory Teams.
- Attending as required meetings of the ECB Network of Enforcement and Sanctions Experts and of the Breach Reporting Mechanism (BRM).
- Review, analyse and provide feedback and comments to documents issued by the ECB enforcement and sanctions business area.
- Manage the Breach Reporting Mechanism (BRM).
- Review and assess BRM reports and discuss with senior management.
- Investigation of licence holders and related enforcement action.
- Coordination and cooperation with supervisory units.
- Discussing investigative strategy with senior management.
- Collection of information, documentation and evidence.
- Attending meetings with licence holders and unauthorised persons under investigation.
- Conducting on-site investigation visits and surprise inspections.
- Analysing, assessing and discussing findings of investigations.
- Identifying breaches or wrongdoing.
- Preparing investigation reports, memos and correspondence.
- Consideration of representations received and discussing with senior management.
- Preparation of memos for submission to Supervisory Council.
- Following up on decisions of Supervisory Council.
- Attending court sittings as necessary.
- Investigation of unauthorised business and related enforcement action.
- Investigation of dubious and/or fraudulent activities or schemes.
- Investigation of financial crime and referral to the police.
- Internet searches and investigations.
- Preparation of notices and warnings to the public.
- Preparation of reports to the police and attending meetings with the police.
- Other duties and tasks as may be assigned by senior management.
- We are looking for candidates with solid academic background in law or in another related financial services related discipline.
- Candidates would be expected to have a sound knowledge of financial services legislation and of the financial services regulatory framework, preferably in the banking sector and experience within a compliance or a supervisory or an investigative and/or analytical environment. Also, candidates would preferably be familiar with the SSM Regulation and the SSM Framework Regulation.
- 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 five (5) 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 ten (10) years within a compliance or an investigative and/or analytical environment, we would still be interested in speaking with you.