Authorisation is responsible for the processing of licensing applications of entities carrying out activities in the banking, securities, insurance and pensions, trusts and Corporate Service Providers sectors. These activities are regulated and supervised by the MFSA in its role as single regulator of financial services in Malta. Authorisation is the entry point for a financial services institution to operate in Malta. The Authorisation section is a multidisciplinary team consisting of professionals from different backgrounds and reviews an applicants’ business plan, funding sources, and persons in a position to exercise control on a given organisation. Licences issued in Malta can be used through passporting mechanisms to operate within European jurisdictions. In addition to issuing of licences, the section is responsible for processing passporting notifications under the relevant EU/EEA Directives. The section is also responsible for the processing of applications concerning change in control and change in approved persons’ suitability of persons under the various regulatory requirements.
The eventual appointee will be responsible for:
- Having a good practical knowledge of the cross border regulatory framework in all financial services areas falling under the remit of MFSA;
- Monitoring and processing of cross border notifications in terms of the relevant EU Directives;
- Dealing with regulatory enquiries as required;
- Participation in meetings;
- Acting as reference to other staff members;
- Carrying out work related to EU developments;
- Liaising with other regulatory Units within MFSA, applicants and other stakeholders as necessary;
- Participating in ‘ad hoc’ assignments related to specific issues that arise from time to time.
- We are looking for candidates with solid academic background in a financial services area which may be considered as relevant to this post.
- 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 (5) years working in a related area. 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 (10) years of relevant experience, we would still be interested in speaking with you.
- First line regulatory experience in authorisations, supervision or enforcement
- Technical knowledge in at least one market sector
- Strong verbal, communication and presentation skills
- Analytical capability and judgement to identify risk
- Ability to work under pressure
- Motivation and interest in developing skills and knowledge