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Analyst within Financial Crime Compliance

Financial Crime Compliance is mainly responsible 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.

Another remit of Financial Crime Compliance 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. Financial Crime Compliance also performs supervision on behalf of the Sanctions Monitoring Board which is the national entity tasked with the supervision in relation to Financing of Terrorism and the Financing of Proliferation of Weapons of Mass Destruction.

Additionally, Financial Crime Compliance also coordinates the collection of information from the various supervisory units and together with its own information, formulates the MFSA’s input in relation to the local financial sector’s Risk Assessment.

Additional remits of Financial Crime Compliance are the delivery of various forms of training to both internal supervisory units within MFSA and also to external bodies; and helping other regulatory bodies including the local Law-Enforcement and Judicial authorities in collecting information in respect of various Court Orders, Investigation Orders and Requests for Information issued by the Courts of Justice and the Police Corps respectively, from various other Units within MFSA and providing the relative information to the aforementioned authorities.

The Role

The Analyst will form part of a supervisory team of analysts. The duties of the Analyst 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 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, accountancy, law or in another related background, a sound knowledge of financial services legislation and familiarity with the financial services regulatory framework and a relevant Post-Graduate Degree would be considered as an advantage.

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 ideally with experience in financial services compliance environment or in law. 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.

*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.
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