Monday, 10th May 2021

Webinar

This event is fully booked

Overview


Governance is a critical part of the regulatory assessment of a bank by the MFSA. Non-Executive Directors play an important role in ensuring there is appropriate governance for banks in Malta. This webinar is designed to provide an insight into the expectations of regulators, with a focus on business planning, control infrastructures and financial crime. The MFSA will also provide an overview of how it assesses the competence of individual board members and the board collectively through its ongoing supervision and onsite reviews. The webinar will also be useful for those firms providing technical support to board members. We will be joined by representatives from the Prudential Authority UK and the European Central Bank who will provide an international context to the discussion, as well as by Non-Executive Directors of banks in Malta for a panel discussion.

The Authority encourages interested participants to register by filling in the form below by not later than Tuesday 4 May 2021. Following successful registration to this webinar, an email will be sent to the registered participants on Thursday 6 May 2021 with a link to join the webinar.

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Agenda


 

1200hrs Opening Statement

Nicholas Dexter - Senior Advisor, Prudential Authority UK

1210hrs Introduction

David Eacott – Head of Banking Supervision, MFSA

1220hrs The Role of the Non-Executive Director in Business Planning and Stress Testing 

Ilias Georgakopoulos - Analyst, Banking Supervision, MFSA
Nikolaos Grapsas - Senior Analyst, Banking Supervision, MFSA

1235hrs The Role of the Non-Executive Director in the Oversight of a Three Lines of Defence Model

Ruth Grioli - Senior Analyst, Banking Supervision, MFSA
Nikolaos Grapsas - Senior Analyst, Banking Supervision, MFSA

1250hrs The MFSA’s Minimum Engagement Level for Banks and Interviews with Non-Executive Directors

Anton Mahkats - Deputy Head, Banking Supervision, MFSA
Caroline Porter - Senior Manager, Banking Supervision, MFSA

1305hrs AML Challenges Facing Banks and Expected Standards

Kurt Spiteri Lucas - Senior Analyst, Financial Crime Compliance, MFSA
Eric Micallef - Analyst, Financial Crime Compliance, MFSA

1320hrs Coffee Break
1340hrs Questions and Answers 
1420hrs A Perspective from the ECB 

Anne Fröhling, Head of Division, DG SPL - Institutional & Sectoral Oversight, ECB

1450hrs An International Perspective

Nicholas Dexter - Senior Advisor, Prudential Authority UK

1520hrs Fireside Chat

Nicholas Dexter (PRA) - David Eacott (MFSA) - Anne Fröhling (ECB) - Laragh Cassar (APS NED) - Christian Farrugia (Merkanti NED)

1620hrs Closing Remarks 

Speakers


Senior Advisor, Prudential Regulation Authority

Nicholas Dexter

Nick is both a Non-Executive Director at MAPFRE MSV plc and a Senior Advisor at the Prudential Regulation Authority (PRA) Bank of England. Amongst other things he assists PRA supervision teams with management and governance reviews and executive interviews. He was previously a partner in KPMG’s Actuarial and Insurance Risk practice

Head, Banking Supervision, MFSA

David Eacott

David Eacott is Head of Banking Supervision, responsible for the oversight of credit and financial institutions operating in and from Malta. David joined the MFSA in February 2020 after 22 years at the Bank of England including the UK’s Financial Services Authority. David was most recently responsible for the successful implementation of the UK’s ring fencing regime. During that time, he also helped the Resolution function with its implementation of the UK’s Resolvability Assessment Framework and led the Bank of England’s effort to improve the quality of internal audit functions within financial firms. During his supervisory career, David ran a number of teams responsible for oversight of large and medium sized banks, building societies and asset management firms. He was also a UK policy expert on the CRD and worked at the UK’s Permanent Representation in Brussels during the last UK EU Presidency negotiating its final legislative stages. David studied Modern European Studies at Loughborough University prior to joining the Bank of England.

Head of Division, DG SPL - Institutional & Sectoral Oversight, ECB SSM

Anne Fröhling

Anne Fröehling is Head of Division responsible for LSI Oversight within European Central Bank (ECB) Banking Supervision. The portfolio of LSIs covers all 21 countries currently participating in the Single Supervisory Mechanism (SSM). Prior to her current role, Anne supervised significant institutions in several countries including Italy, Spain, France and Belgium. Before joining the ECB in 2014, Anne spent several years at European Insurance and Occupational Pensions Authority (EIOPA) and 10 years at a strategy consulting firm.

Non-Executive Director, Chairman - Board of Directors, Merkanti Bank

Christian Farrugia

Dr Christian Farrugia is a lawyer by profession who has been practising law since 1988. He is a founding partner of Fenech Farrugia Fiott Legal and specialises in corporate law, mergers and acquisitions and financial services. He has, over the span of his career, acted as legal counsel to the Boards of several corporate clients coming from different industry sectors. He is currently also the appointed Chairman and NED on the Boards of a number of MFSA regulated entities, including Merkanti Bank plc and Advent Insurance PCC Limited. Dr Farrugia is also a part-time lecturer in Maritime Law at the University of Malta.

Non-Executive Director, Member - Board of Directors, APS Bank

Laragh Cassar

Dr Laragh Cassar was appointed to the Board of Directors of APS Bank plc in April 2016. Throughout her career, Dr Cassar has gained vast experience in many areas of practice including banking, investment services, asset management, capital markets and corporate law restructuring. Laragh was formerly a partner at Camilleri Preziosi and moved on in 2015 to establish the firm ‘Camilleri Cassar Advocates’. Dr Cassar obtained a Degree in Law from the University of Malta in 2002 and a Master of Law in Banking and Finance from the University of London in 2003. She also holds the role of Non-Executive Director on the board of Hili Properties p.l.c. and the role of Non-Executive Director and Company Secretary on the Board of Medserv p.l.c..

Deputy Head, Banking Supervision, MFSA

Anton Mahkats

Anton Mahkats joined the MFSA as a Deputy Head within the Banking Supervision Unit from the European Central Bank in May 2020 and is primarily responsible for the Joint Supervision and On-site teams. At the ECB Anton spent 6 years supervising various European Significant Institutions. Anton started his career at Moody’s Investors Service in the UK where he spent 5 years as a credit rating analyst for Nordic and CIS regions. Subsequently, he moved to the Bank of New York Mellon to work within the risk management department and later joined the Bank of England’s prudential supervision function. Anton graduated from the London Business School with Masters in Finance and is a certified FRM.

Senior Manager, Banking Supervision, MFSA

Caroline Porter

Caroline Porter holds a Bachelor of Commerce (Hons) in Economics from the University of Malta, where she has also completed a Bachelor of Commerce in Economics and Management. In 2008, she completed a Master of Arts in Economics. She joined the MFSA as an analyst in 2012 within the Banking Supervision function and served as a Joint Supervisory Team (JST) sub-coordinator from 2016 to 2019 for one of the local Significant Institutions. In 2019, she joined the Less Significant Institutions (LSIs) supervision team as a Senior Manager. Prior to joining the MFSA, she worked for five years as a Statistician/Senior Statistician in the National Accounts Unit within the National Statistics Office, where she was involved in the calculation of the Gross Domestic Product for financial and insurance activities.

Senior Analyst, Banking Supervision, MFSA

Nikolaos Grapsas

Nikolaos Grapsas is a Senior Analyst within the Baking Supervision function at MFSA. Before joining the Authority in September 2019, he worked for 16 years in large Greek commercial banks, assuming different roles in Risk Management. Currently he is the local coordinator in one of the MFSA/ECB Joint Supervisory Teams and holder of an MSc in Applied Statistics and Operational Research.

Senior Analyst, Banking Supervision, MFSA

Ruth Grioli

Ruth Grioli is a Senior Analyst within the Onsite Team of the Banking Supervision function. She started her career at the Central Bank of Malta and moved to the MFSA way back in January 2002, following the transfer of the banking supervisory function. Throughout these years, Ruth was involved and acted as team leader in many onsite inspections covering various risks at credit and financial institutions. She participated in various meetings at international fora, notably those organised by the ECB.

Analyst, Banking Supervision, MFSA

Ilias Georgakopoulos

Ilias Georgakopoulos joined the MFSA in 2019 and forms part of the stress testing team of the Banking Supervision function. In this risk area, he also participates in working groups at the ECB and EBA. Ilias holds two Master Degrees in applied Economics.

Senior Analyst, Financial Crime Compliance, MFSA

Kurt Spiteri Lucas

Currently a Senior Analyst within Financial Crime Compliance at MFSA, Kurt Spiteri Lucas graduated in B.Com (Hons) Banking and Finance from the University of Malta in 2005 and has been working in the financial services sector since then. Kurt started as a summer worker with a small investments firm and, during these past 14 years, continued to work in the Investments Services sector, holding several positions within Operations and Due Diligence teams, mainly at three leading investment firms, with a brief stint at a credit institution, thus gaining significant experience in such sector. He joined MFSA’s Financial Crime Compliance function in 2015 and as a Senior Analyst, he leads and provides expertise during on-site compliance visits, compiling various financial crime-related statistics. He is also involved in the drafting of policies and carries out research intended to be used by the various teams within the function itself and across the Authority.

Analyst, Financial Crime Compliance, MFSA

Eric Micallef

Eric Micallef started working at the Authority through an internship while he pursued his studies at the University of Malta. Holding a Bachelor’s Degree (Honours) in Criminology, he has been part of the Financial Crime Compliance function for almost two years. Eric is currently reading for an ICA International Diploma in Anti-Money Laundering as well as for a Masters in Forensic Accounting at the University of Portsmouth.

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