Analyst (AML/CFT Supervision)

within Enforcement


View job details
  • Grade:
  • Type:
  • Closing date:
  • 7
  • Indefinite
  • 22/03/2019
  • Job code:
  • Team:
  • Date posted:
  • EU/009/18
  • AML/CFT Supervision
  • 23/01/2019

About Enforcement


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 Role


The Analyst (Anti-Money Laundering & Combating Financing of Terrorism – Supervision) will form part of a supervisory team of analysts. The duties of the Analyst 2 shall primarily consist in the supervision of AML/CFT compliance by financial services licence holders, including trustees and company service providers. The main purpose is to monitor the level of compliance with the applicable AML/CFT law, regulations and FIAU Implementing Procedures.

The duties and responsibilities of the Analyst (Anti-Money Laundering & Combating Financing of Terrorism – Supervision) shall include:

  • Data collection from subject persons, FIAU and MFSA Supervisory Units
  • Assisting with analysis of data
  • Assisting in risk assessment
  • Assisting in the identification of supervisory priorities based on risk
  • Coordination of joint supervisory work with FIAU
  • Coordination with Supervisory Units
  • Coordination with subject persons
  • Conducting including taking a lead role in on-site supervisory visits
  • Carrying out pre-visit preparatory work
  • Carrying out post-visit work – preparation of visit reports and findings letters
  • Attending meetings with subject persons as necessary
  • Attending FIAU Compliance Monitoring Committee meetings
  • Attending training / technical meetings at FIAU
  • Compiling supervisory information for statistical purposes
  • Replying to requests for information by FIAU and police
  • Other duties as may be assigned from time to time

 

About You


We are looking for candidates with solid academic background in financial services or in law or in another related background with a good knowledge of Maltese anti-money laundering and combating financing of terrorism legislation and ideally of international AML/CFT standards. A relevant PostGraduate Degree would be considered an asset.

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 (3) 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 seven (7) years within a compliance or an investigative and/or analytical environment, we would still be interested in speaking with you.

 

How to apply

or query for further information


Candidates are to forward a copy of their Curriculum Vitae (C.V.) and an accompanying covering letter providing the motivation for the application to [email protected]

 

Other important information


The MFSA is an Equal Opportunities Employer as certified by the NCPE (National Commission for the Protection of Equality) and is committed to a policy of equal opportunity in all aspects of employment and will take care to avoid any form of discrimination in its recruitment procedures. The MFSA reserves the right to withdraw this call at any time and not to select any of the Candidates.

It is the responsibility of applicants in possession of qualifications awarded by Universities and other similar institutions outside Malta to produce a recognition statement on comparability of qualifications issued by the Malta Qualifications Recognition Information Centre (MQRIC). Applicants should do so preferably at application stage or otherwise at the preliminary interview should an applicant be selected for such interview. Details can be obtained by accessing the National Commission for Further and Higher Education website on www.ncfhe.org.mt under MQRIC heading.

The MFSA shall ensure that any processing of personal data is in accordance with Regulation (EU) 2016/679 (General Data Protection Regulation), the Data Protection Act (Chapter 586 of the Laws of Malta) and any other relevant European Union and national law. For further details, you may refer to the Data Protection Policy on the MFSA webpage www.mfsa.mt.

Candidates are to note that the submission of any false statement/s or omission, even if unintended, may lead to the cancellation of their application and may render the candidate’s appointment liable to termination.

Furthermore, please note that candidates may be asked to submit any documentation in support of the information provided, including but not limited to, proof of qualifications and Police Conduct Certificates.