The Insurance & Pensions Supervision Unit of the MFSA is entrusted with the on-site and off-site surveillance of licensed insurance and reinsurance undertakings, insurance intermediaries and pension’s service providers.
Purpose behind the Recruitment
Through this recruitment, the MFSA is looking for applicants at a senior management level with an Insurance or Risk Management or Finance related academic background to increase the current pool of internal expertise in this particular area. The eventual appointee will manage a multidisciplinary team of analysts within the Insurance & Pensions Supervision Unit.
- A University of Malta Degree in Law (LL.D) or an Honours Degree in Insurance or Risk Management or a comparable recognised insurance/financial qualification at NQF level 6 or better duly certified by the Malta Qualifications Recognition Information Centre (MQRIC)*.
- A relevant Post-Graduate Degree would be considered an asset.
- Applicants would be expected to have worked within the financial services environment for a number of years, with a required minimum of eight (8) years and preferably with twelve (12) years.
- Knowledge of regulatory requirements applicable to the financial services sector, particularly in the area of insurance and pensions.
- Applicants are required to have strong leadership and people management skills and the ability to manage competing priorities and a challenging workload.
The Senior Manager will manage a multidisciplinary team carrying out analytical duties related to compliance by insurance and pensions licence holders in line with their regulatory obligations emanating from their operating licences. This work is undertaken as part of the on-going off-site and on-site supervisory process undertaken by the MFSA on licence holders. The main purpose of this process is to monitor the level of compliance with applicable regulatory standards by licence holders and eventually the regulatory obligations emanating from the Insurance Business Act, the Insurance Intermediaries Act and the Retirement Pensions Act.
The selected candidate will act as a reference to other staff members and will be also required to involve himself/herself in “ad hoc” assignments related to specific regulatory and supervisory issues that arise from time to time. S/he will also be involved in attending/holding of meetings with licence holders; assisting in the development of procedures; following up international regulatory developments; deputising for the Unit’s Deputy Director in the latter’s absence.
Soft Skills Required
a) ability to multi-task and to meet strict deadlines
b) good judgement
c) ability to manage, lead and inspire a team
d) ability to listen actively and to work on one’s initiative
e) excellent written and verbal communication skills
f ) well developed organisational analytical and negotiation skills
g) ability to demonstrate initiative in dealing with new regulatory and supervisory challenges
h) a high degree of self confidence
*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 firstname.lastname@example.org, and we will direct your query to the relevant contact at this company.