Junior Analyst (Actuarial)

The Insurance and Pensions Supervision function is responsible for the prudential supervision of insurance companies, insurance intermediaries, retirement schemes, retirement funds and retirement service providers. The team employs professionals with a varied background and varied skills in the areas of insurance, pensions, accounting, legal, quantitative analysis, actuarial, compliance and other related areas.

About the Role

You will be joining the Actuarial team and undertake duties of an analytical nature in relation to information required for regulatory purposes in the area of insurance and pensions. Reporting to the Senior Actuary within the Insurance & Pensions Supervision function, you will be expected to carry out the following tasks:

• Analysis of Solvency II Quarterly Reporting Templates (QRTs) submitted by license holders (LHs), following a risk-based approach;
• Analysis of Own Risk and Solvency Assessments (ORSAs) Reports for selected LHs;
• Participation in on-site/off-site reviews of individual LHs;
• Work on creation of Dashboards with risk management information;
• Taking an active role in the Authority's continuous strive for improved quality of data provided by LHs;
• Providing ongoing support to other teams (Finance, Authorizations, Compliance, Legal) within the function for analytical and deep-dive technical support. This may relate to profit distribution requests, data related queries, analysis of QRTs of prospective new LHs etc;
• Taking part in EIOPA Working Groups and compiling/coordinating questionnaires and information requests as part of MFSA's reporting obligations to EIOPA and other international organisations;
• Other ‘ad hoc' assignments.

About You

We are looking for candidates with interest in the financial services area.

The role calls for an academic qualification in the 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 working experience, we would still be interested in speaking with you. Candidates with longer working experience relevant to the role will be preferred.

Ideally you will be:

• Interested in a career within financial services, ideally be interested in becoming an actuary;
• Hardworking and diligent in carrying out your duties;
• Show eagerness to collaborate with other team members to develop analytical skills and best practices;
• Willingness to learn on the job about insurance concepts, and risk management practices;
• Proficient user of Microsoft Excel;
• Knowledge on SQL, VBA, and statistical packages considered a plus

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.gov.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 Protection Policy on the MFSA webpage www.mfsa.mt.

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.

Jobsplus Permit Number 353/2023