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About Securities and Markets Supervision
The Securities and Markets Supervision section with a staff complement of 44, is responsible for supervising investment services license holders, collective investment schemes, regulated markets, central securities depositaries, financial and non-financial entities falling under the scope of EMIR and recognised private collective investment schemes, registered tied agents and recognised administrators. The Unit is also responsible for the regulation and oversight of activities in capital markets including the processing of applications for admissibility to listing on Regulated Markets, the processing of notifications in terms of the Securitisation Act, the supervision of the continuing obligations of Listed Companies on Regulated Markets in Malta, the supervision of the markets to identify any market abuse and to carry out any appropriate reviews where applicable. In addition the section is carrying out important work relating to policy development in areas relating to blockchain, ICOs and emerging technologies.
The eventual appointee will form part of a dedicated Off-Site Supervision Funds Team within the function, which is responsible for the off-site supervision of fund managers, collective investment schemes, fund administrators and custodians. The role involves management of the management of a caseload of investigations from nception to closure and supporting senior executives in the policy formation and implementation, including introduction of new legislation and revision of Rulebooks. The individual will be expected to carry out the following tasks:
- Project and manage investigations from inception through to their progression, understanding legal and regulatory issues and exercising judgement and problem solving skills throughout the process;
- Support senior management in the conduct of challenging interviews of hedge fund managers, directors and other parties participating pro-actively in such interviews and showing the ability to deliver difficult messages;
- Assume responsibility in the drafting and delivery of high quality documents in relation to investigation showing, inter alia, evidenced analysis of such investigations;
- Undertake research, collect material information and undertake behavioural analysis in relation to the impact of review of the rulebooks and regulations;
- Assume responsibility for the transposition of EU driven legislation within the timescale set;
- Assume any other work or projects delegated by senior management.
We are looking for candidates with solid academic background in Law, Accountancy, Banking and Finance or in Economics or Public Policy or in another finance related background, to increase the current pool of internal expertise in Securities and Markets Supervision.
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.
The candidate should possess:
- Experience in investigation of financial crime and supervision intervention in respect of licence holders in critical situations, such as licence holders nearing litigations, failure and/or bankruptcy;
- Ability to handle a case load of investigations with minimum supervision, involving engagement with the license holders, MFSA Legal Unit, decision-taking bodies at the MFSA (if applicable) and other stakeholders;
- Ability to make sound and evidence-based judgements taking responsibility for raising comprehensive communication to the MFSA decision-taking bodies;
- Strong analytical skills with regard to applying in practice various legal requirements, investment services rules, business models which the license holders are subject to, whilst ensuring that the interest of investors and reputation of the Authority is safeguarded on continuing basis;
- Ability to provide advice on policy, and operational and supervisory issues which may arise to the Unit’s senior management team;
- Ability to tangibly support SMSU senior management team in particular with respect to EU policy and transpositions of legislation;
- Ability to contribute, through forward planning of work and proposing policy position, to reduce risks which investors are exposed to;
- Ability to undertake other tasks and projects as may be delegated by the Unit’s senior management team.
You will also possess a minimum of Five (5) years working in the area of financial services and/or compliance with financial services regulation for a number of years. 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 of relevant experience, 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
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.