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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

Associate within the Enforcement Section

The Role

The FIAU is seeking to strengthen its Enforcement Section through the recruitment of an Associate.

Main tasks and responsibilities

Analyse Compliance Reports and submissions received by subject persons pertaining to different AML/CFT obligations;
Prepare cases for presentation before the FIAU’s Compliance Monitoring Committee (CMC);
To draft enforcement measures letters as may be required;
Ensure that enforcement decisions, including follow up actions are fully acted upon;
Supervising the implementation of Directives issued to subject persons;
To draft, review and/or issue targeted guidance papers in relation to the enforcement processes and raise awareness to the public;
To plan, provide and assist in providing AML training and public awareness;
To plan, provide or assist in providing internal training and enforcement updates;
To prepare and help in preparing court files as needed;
To attend FIAU court sittings as witness, or as required;
To keep the Manager, Senior Manager, Head of Section and other Superiors up to date with plans, actions and work carried out;
To assist the Head, Senior Manager and Managers in any ad-hoc projects and assignments as may arise during the year;
To liaise with local and/or foreign supervisory authorities in relation to enforcement measures taken by the FIAU as required;
To represent the FIAU in international fora when needed;
To report to the Director, Deputy Director, Head, Senior Manager and Manager;
To fulfil any other duties delegated by the Director, Deputy Director and Head of Section.

Educational and skill requirements

University degree or an equivalent qualification (MQF Level 6) in Law, Banking and Finance, Financial Services, Insurance, Accounting, Economics, Criminology, or in any other subject relevant to this position with three years’ experience; OR
MQF Level 5 qualification in in Law, Banking and Finance, Financial Services, Insurance, Accounting, Economics, Criminology, or in any other subject relevant to this position with four years’ experience relevant to this post;
Applicants should be proficient in the laws that govern the prevention of money laundering and financing of terrorism in Malta and relevant international standards and EU legislation in the area;
Sound knowledge of the relevant EU Directives and related domestic legislation that govern financial, gaming and ancillary services, and familiarity with the operations of the financial services, gaming and other regulated sectors;
Experience in applying anti-money laundering and counter-funding of terrorism legislation;
Outstanding written and verbal communications skills in Maltese and English;
Proficiency in the use of Microsoft Office and office automation tools.

Job benefits