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Analyst Grade 3 (Enforcement) within the Enforcement Unit

The Enforcement Unit

Enforcement - The Enforcement Unit 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. The Enforcement Unit has a cross sectorial enforcement role and covers all areas falling under the MFSA’s supervisory function. The Enforcement Unit furthermore investigates the actions of persons carrying on financial services activities without having the necessary licence or authorisation. The Unit 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 - The Enforcement Unit is responsible also for anti-money laundering and combating the financing of terrorism (AML/CFT) supervision of MFSA licence holders. This consists in the supervision 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 Financial Intelligence Analysis Unit (FIAU) Implementing Procedures. Supervision is carried out by the MFSA jointly with the FIAU in a coordinated and integrated manner and with a risk-based approach.

International Sanctions - The remit of the Enforcement Unit 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. The Unit 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.

Purpose behind the Recruitment

Through this recruitment, the MFSA is looking for applicants with a finance or legal related academic background to increase the current pool of internal expertise in the Enforcement Section. The eventual appointee will be appointed at management level (Analyst 3) and will form part of a multidisciplinary team of analysts within the Enforcement Section of the Enforcement Unit.

Qualifications Required

  • A University of Malta Honours Degree or equivalent qualification in a financial services related discipline or in an area which is otherwise considered relevant to the functions and duties attached to this post, or in Law (LL.D), or a comparable recognised 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 as an advantage.

Eligibility

Candidates are expected to have:

  • Work experience, ideally within the financial services sector for a number of years, with a required minimum of five (5) years and preferably with eight (8) years;
  • a sound knowledge of financial services legislation and familiarity with the financial services regulatory framework and experience within a compliance or an investigative and/or analytical environment preferably for a minimum of four (4) years.

Duties

The Analyst 3 (Enforcement) will work closely with and support senior management within the Enforcement Section of the Enforcement Unit.

The duties of the Analyst 3 shall primarily be the review of actions and where necessary the conduct of investigations of financial services licence holders or other authorized persons and /or their officials who have or are suspected of having committed serious compliance failures, serious misconduct or any other serious breaches of applicable laws, regulations, rules or other regulatory requirements. The Analyst 3 will also be responsible for the investigation of persons carrying on financial services activities without having the necessary licence or authorization.

The duties and responsibilities of the Analyst 3 (Enforcement) shall include:

  • Investigation of licence holders and related enforcement action
  • Coordination and cooperation with supervisory units
  • Discussing investigative strategy with senior management
  • Collection of information, documentation and evidence
  • Attending meetings with licence holders and unauthorised persons under investigation
  • Conducting on-site investigation visits and surprise inspections
  • Analysing, assessing and discussing findings of investigations
  • Identifying breaches or wrongdoing
  • Preparing investigation reports, memos and correspondence
  • Consideration of representations received and discussing with senior management
  • Preparation of memos for submission to Supervisory Council
  • Following up on decisions of Supervisory Council
  • Attending court sittings as necessary
  • Investigation of unauthorised business and related enforcement action
  • Investigation of dubious and/or fraudulent activities or schemes
  • Investigation of financial crime and referral to the police
  • Internet searches and investigations
  • Preparation of notices and warnings to the public
  • Preparation of reports to the police and attending meetings with the police
  • Other duties and tasks as may be assigned by senior management.

Soft Skills Required

  • ability to multi-task and to meet strict deadlines;
  • very good written and verbal communication skills;
  • ability to work within and lead a team;
  • ability to work on own initiative;
  • a high degree of self-confidence;
  • assertive qualities;
  • ability to conduct interviews of persons and to carry out inspections.
*Dear Candidate, kindly note that this role is not managed by Castille. MFSA, in this case, is responsible to manage the application process. In case of any difficulties, feel free to contact brand@castilleresources.com, and we will direct your query to the relevant contact at MFSA.