Deputy Head (Planning - Investment Firms)
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 is in the process of being set-up. All teams engage regularly with European and local authorities, contributing to working groups, meetings and task forces.
About the Role
The successful candidate will be expected to contribute to the various duties that are undertaken by Resolution particularly related to investment firms falling within scope of the BRRD including the following tasks as necessary:
- To deputise for the Head when necessary.
- To cooperate with the Head and Resolution team to achieve the objectives of Resolution.
- To be responsible for the day to day running of Resolution Planning – Investment Firms team and apply decisions taken by the Head.
- To prepare yearly staff reviews in collaboration with the Head and senior staff and hold meetings with staff members as required.
- To assist the Head in preparing Resolution budgets and allocation of resources.
- To discuss work plans with senior staff.
- To have a significantly advanced grasp of technical matters related to resolution.
- To have good management skills to guide the Resolution Planning – Investment Firms team on a technical level and on an interpersonal level and mentor more junior colleagues.
- To review the output of the Resolution Planning – Investment Firms team and provide feedback as required.
- To collaborate actively with the other members of Resolution team.
- To supervise resolution planning of investment firms falling within scope of BRRD and application of policies and guidelines.
- To supervise the process of the National Resolution Fund for investment firms.
- To participate in resolution colleges and draft policies and plans if necessary.
- To take an active part in the discussions in relevant committees or task forces and other meetings internally and with other external stakeholders, analyse documents and review staff contributions accordingly.
- To represent Resolution on domestic and international working groups and task forces related to resolution.
- To provide comments to the Ministry of Finance when necessary and liaise with other stakeholders and other MFSA functions.
- To undertake work related to Resolution of CCPs and attend relevant meetings including at ESMA as necessary.
- 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
The role calls for an academic qualification at MQF Level 6 or equivalent qualification in: Accountancy, Economics, Finance or a related area. Previous experience on Resolution, and/or on areas related to the investment firms’ sector will be considered an asset. Professional certifications in the field are advantageous.
A minimum of 6 years prior experience in a senior level, preferably within the financial services sector or related fields.
If you do not have the necessary academic qualifications and minimum years’ experience but you have at least 10 years prior experience in a senior level role we would still be interested in speaking with you.
Skills and competencies:
- Strong knowledge of Resolution, Investment Firms and BRRD.
- Proven ability to lead a team.
- Analytical, interpersonal, and leadership skills.
- High level of integrity, professionalism, and reliability.
