Financial Intelligence Analysis Unit

The Financial Intelligence Analysis Unit is the national central agency in Malta that is responsible for the collection, collation, processing, analysis and dissemination of information to combat money laundering and the funding of terrorism. The Unit became operational on 1 October 2002, when it was established by virtue of Legal Notice 297 of 2002. This legal notice brought into force the comprehensive amendments to the Prevention of Money Laundering Act (Act XXXI of 2001). Though set up as an agency within the ministry responsible for finance, the Unit has a separate judicial personality and operates autonomously from its own offices with its own staff. The responsibilities related to the governance of the Unit are divided among the Board of Governors and the Director, with the Board establishing the policy and the Director being tasked with the execution of that policy. The Director is also responsible for carrying out all other functions of the Unit not attributed to the Board by the Prevention of Money Laundering Act. He is assisted by permanent staff operating within six distinct sections responsible for Intelligence Analysis, Supervision and Enforcement, Legal Affairs, Corporate Services & People Performance and Culture, Policy and Quality Assurance, and Technology and Information Security.

About

AML/CFT Junior Associate

The Role

The FIAU is inviting applications for the Junior Associate role within the Supervision Section. Opportunities are available within Credit and Financial Institutions (CFI), Investments, VFAs (Crypto) and Gaming (IVG) and Designated Non Financial Businesses and Professions (DNFBPs) Teams.

Duties and Responsibilities:

Assisting Senior Associates and Associates in planning and executing compliance examination in line with internal procedures to assess subject persons’ adherence to AML/CFT obligations and whether the control framework is adequate towards ensuring that ML/FT risks are adequately mitigated.
Assisting Senior Associates and Associates in analysing results of compliance examinations and prepare compliance examination reports on a timely basis to clearly document such results.
Liaising, coordinating, and cooperating with various Competent Authorities including the Malta Financial Services Authority/Malta Gaming Authority/Sanctions Monitoring Board/the National Coordination Committee for the Prevention of Money Laundering and Funding of Terrorism/the Malta Police Force and others as may be required from time to time.
Contribute to advising and assisting subject persons to establish appropriate AML/CFT internal structures and controls.
Assisting the Risk Team in the carrying out of risk assessments, execution of risk verification procedures and provision of feedback on the outcome of compliance examination as well as the Remediation Team in following-up on the results of compliance examinations.
Participating in training provided to subject persons, supervision officers or other supervisory authorities,
Assisting in other task related to evaluations and assessments being undertaken by various local and international bodies such as the EU, the Egmont Group, MONEYVAL, FATF, etc.
Carrying out any other job-related duties as may be assigned by the Director, Deputy Director, Head, Senior Manager and Manager, from time to time.

Requirements

MQF Level 5 qualification in financial services, audit, banking, law, accounting, economics or in any other subject relevant to this position and at least 2 years work experience relevant to this position; OR
MQF Level 4 qualification in financial services, audit, banking, law, accounting, economics or in any other subject relevant to this position and at least 3 years work experience relevant to this position.
Applicants should be knowledgeable of the laws that govern the prevention of money laundering and financing of terrorism in Malta and the applicable international standards and EU legislation.
Knowledge and/or experience in carrying out AML/CFT related checks, report writing or audit engagements and familiarity with the sector/s in which subject persons operate, such as the TCSP sector, the financial services sector, the banking sector, gaming sector etc. will be considered as an asset.
Outstanding written and verbal communication skills in English.
Proficiency in the use of Microsoft Office and office automation tools.
Preference may be given to applicants who occupied a compliance position for a ‘subject person’ as defined by the Prevention of Money Laundering and Funding of Terrorism Regulation.
Must have a clean criminal record.

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