Deputy Head (Policy and Legal)

The Investment Services Supervision Function is responsible for the authorisation and supervision of investment services licence holders and recognised persons, particularly investment firms, asset managers and collective investment schemes. Through its supervision, the function assesses compliance with prudential requirements stemming from European Directives and local legislation. It also examines the adequacy of systems and controls, governance arrangements, and risk management within licensed or notified entities under its remit. To support its supervisory work, the function actively participates in European Commission and European Supervisory Authorities’ committees and working groups, contributing to the development of policy and legislation within its scope.

About the Role

The candidate will support the Head of Function in leading the policy and legal team. You will be expected to carry the following tasks:

• Lead the Policy and Legal Team's day-to-day workload to ensure that the respective goals specified in the team’s workplan are satisfactorily completed;
• Handle the performance management process of the team and making sure that team members are meeting and exceeding their pre-set performance objectives, as well as, identifying areas for growth;
• Delivering a strong working relationship with other MFSA functions including the central Legal Function and the International Affairs Function to support the MFSA’s strategy;
• Ensuring that the team consistently delivers high quality output in line with the MFSA's statutory obligations communicated in the MFSA's Strategic and Supervisory Priorities documents;
• Assist in the development of regulatory frameworks and legislative change in the financial sector, falling within the remit of the ISS Function, carrying out impact assessments as necessary;
• Lead policy formulation projects within the remit of the Function, in line with ESA and MFSA objectives;
• Manage the relationship on policy development with the Ministry for Finance providing clear advice and supporting their engagement with external stakeholders. Participate in meeting held at the Ministry of Finance and attending sittings at Parliament’s committee stage when required;
• Represent the MFSA in meetings hosted by the European Council, Commission and ESAs, and in meetings with the industry or industry groups when required;
• Provide advice on investment services legislation and interpretations, as well as driving the MFSA’s transposition of EU investment services related legislation into the Maltese framework;
• Review all ESA Technical Standards, Guidelines and Recommendations relevant for the function and ensuring that it:
• Communicates the MFSA position on the requirements
• Any identified gaps are properly addressed.
• Liaise and cooperate with foreign regulators and local authorities;
• Undertake any other duties as assigned by the Head and/or as may be required by the MFSA from time to time based on the exigencies of the Authority.

About You

We are looking for candidates with solid academic background in Law, Accountancy, Banking and Finance, Economics, Public Policy or in another related background, to increase the current pool of internal expertise in the Investment Services Supervision Function.

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 six (6) years working in a senior leadership role within 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.

It is expected that the candidate has relevant experience in policy matters related to the investment services sector, and is conversant with the Alternative Investor Fund Managers Directive, the Undertakings for Collective Investment in Transferable Securities (UCITS) Directive, and the Investment Firms Directive.

Skills and competencies:

• Ability to multi-task and work on own initiative with minimum supervision;
• Be a self-motivated team player and able to adopt various roles within a team;
• Excellent verbal and communication skills;
• Ability to prioritise and deliver under pressure;
• Strong drafting skills; and
• Sound analytical and judgemental skills compiling reports of a high standard.

Other Information

The MFSA is an Equal Opportunities Employer as certified by the NCPE (National Commission for the Protection of Equality) and is committed to a policy of equal opportunity in all aspects of employment and will take care to avoid any form of discrimination in its recruitment procedures. The MFSA reserves the right to withdraw this call at any time and not to select any of the Candidates.

It is the responsibility of applicants in possession of qualifications awarded by Universities and other similar institutions outside Malta to produce a recognition statement on comparability of qualifications issued by the Malta Qualifications Recognition Information Centre (MQRIC).

Applicants should do so preferably at application stage or otherwise at the preliminary interview should an applicant be selected for such interview. Details can be obtained by accessing the National Commission for Further and Higher Education website on www.ncfhe.org.mt under MQRIC heading.

The MFSA shall ensure that any processing of personal data is in accordance with Regulation (EU) 2016/679 (General Data Protection Regulation), the Data Protection Act (Chapter 586 of the Laws of Malta) and any other relevant European Union and national law. For further details, you may refer to the Data Privacy Notice on the MFSA webpage - https://www.mfsa.mt/privacy-notice/.

Candidates are to note that the submission of any false statement/s or omission, even if unintended, may lead to the cancellation of their application and may render the candidate’s appointment liable to termination.

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.