Junior Analyst
About the Function
The Resolution function is responsible for developing and implementing resolution plans for banks, certain investment firms, and insurance undertakings to ensure that failing institutions can be managed without threatening financial stability. It advises the Resolution Committee on whether an institution should enter liquidation or resolution and on the appropriate use of resolution tools. Operating independently from supervision, the function works within the framework of the MFSA Act. Currently resolution is organised into five interconnected teams: Policy & Legal, which handles legislative transposition, policy drafting, and ESAs guideline implementation; Resolution Planning for banks, in cooperation with the Single Resolution Board and processes related to resolution funds; Resolution Planning for certain investment firms which prepare institution specific resolution plans and the Compensation Schemes team. A new team to handle the Resolution process for insurance undertakings including resolution planning, legal and policy matters and the resolution fund for this sector will be created in the coming months. All teams engage regularly with European and local authorities, contributing to working groups, meetings and task forces.
About the Role
The successful candidate will join a multidisciplinary team and will be expected to contribute to the various duties that are undertaken by Resolution including the following tasks as necessary:
- Cooperate with Senior colleagues in providing advice to the Resolution Committee and underlying structures. The appointee will cooperate with the other authorities to ensure the quality and consistency of the BRRD as transposed.
- Assist in the transposition of any EU Directive relevant to Resolution and to implement any changes brought about by EU legislation into national law through the drafting of regulations, legislation and by amending existing legislation as necessary.
- Assist in the drafting of resolution plans with respect to entities falling within the remit of Resolution.
- Analyse and discuss with Senior colleagues the contents of recovery plans as appropriate given the implications that such plans may have on the resolution plans.
- Assist with the Public Interest and Resolvability assessments.
- Contribute to the process of Normal Insolvency Proceedings of credit institutions.
- Contribute to frameworks and policies related to resolution of entities other than credit institutions.
- Liaise with both local and foreign authorities in providing input relating to draft technical standards and guidelines and recommendations, and their implementation.
- Draft memoranda of understanding, circulars and Resolution-related letters.
- Monitor EU legislation in resolution-related areas, participate in meetings and provide input when necessary.
- Represent the Resolution Committee in meetings that are held locally and/or overseas and assist with the analysis and preparation of comments on documents discussed in various Working Groups and Task Forces as required.
- Provide input to documents and reports prepared by Resolution.
- The appointee may also be involved in on-site compliance visits.
- Provide input to policy-related documents and discussions as well as assisting in the drafting of policies.
- Undertake ad-hoc assignments related to resolution aspects that may arise from time to time and report on the outcome of such assignments as may be appropriate and necessary.
About You
We are looking for candidates with solid academic background in Law or Accountancy, Banking and Finance, Economics, Insurance or in a similar policy-oriented background or relevant experience.
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.
If you do not have the necessary academic or professional qualifications, but you have at least five (5) years of relevant experience, we would still be interested in speaking with you.
