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

Junior Compliance Officer

In line with the aim of further strengthening Malta’s Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) regime, the FIAU was vested with the power to monitor compliance with the Use of Cash (Restriction) Regulations (SL 373.04) (“the Regulations”). Through these regulations, the FIAU aims at reducing the illegal use of cash in Malta in certain sectors of the Maltese economy so as to decrease the possibility that these sectors be exploited for ML/FT purposes. The Cash Restriction Section is responsible of raising awareness with respect to the Regulations whilst having the necessary controls in place to detect, investigate and sanction cases of illegal use of cash.

In this regard, the FIAU is seeking to recruit Junior Compliance Officer to strengthen the Cash Restriction Section.

Main tasks and responsibilities

Assist in the conduct of compliance investigations, collect the necessary evidence and draw up reports in relation to suspected cases of breach to the Regulations
Liaise and cooperate with various stakeholders and competent authorities including Government agencies
Assist with the enforcement of both administrative and criminal aspects of the law
Assist in the analysis of transactional data to detect suspicious transactions that require an in-depth compliance investigation to ensure adherence to the Regulations
Participation in internal meetings and committees as may be required
Dealing with incoming and outgoing correspondence and maintaining the Case Management System updated
Carrying out onsite visits to gather the necessary information
Assisting in the Collection of comprehensive statistical data
Provide support during FIAU ad-hoc projects
Represent the FIAU at local or international meetings and workshops as necessary
Carry out any other duties as assigned by management

Educational and skill requirements

An MQF Level 5 qualification in Banking, Law, Accountancy, Forensic Accountancy, Audit, Finance or any other qualification coupled with at least 2 years’ experience relevant to this post OR
An MQF Level 4 qualification in Banking, Law, Accountancy, Forensic Accountancy, Audit, Finance, or any other qualification coupled with at least 3 years’ work experience relevant to this post
Fluency in both Maltese and English languages is essential
Sound knowledge and practical understanding of the Use of Cash (Restriction) Regulations (SL 373.04) and other laws that govern the prevention of money laundering and financing of terrorism in Malta and the applicable international standards and EU legislation
Outstanding written and verbal communications skills
Proficiency in the use of Microsoft Office and office automation tools
Acquaintance with data visualization tools such as Microsoft Power BI and i2 Analyst’s Notebook
Excellent analytical and report writing skills and a proven track record of technical competence, efficiency, leadership, ethical responsibility, and diligence.

Job benefits