Manager (Onsite Supervision)
About the Function:
The regulation and supervision of professional trustees and other fiduciaries fall within the remit of the Malta Financial Services Authority (MFSA), which has a dedicated function responsible for both the authorisation and ongoing supervision of such persons. The primary objective of this function is to ensure that licensed trustees and fiduciaries maintain robust structures, systems, and controls to serve clients effectively, while also upholding their own reputation and that of Malta, in line with the jurisdiction’s international obligations. The Function is also responsible to maintain the trusts beneficial ownership register (TUBOR) updated and correct.
About the Role
Within this role you will be joining the Trustees Supervision Function which is responsible for the review of applications of trustees and other fiduciaries, the assessment of key officials requiring approval by the MFSA, as well as the ongoing supervision of the conduct of such persons authorised in terms of the Trusts and Trustees Act.
Your work will include any of the following tasks aimed at verifying that authorised trustees and other fiduciaries are meeting the requirements of the Trusts and Trustees Act, and the relevant rules and regulations issued thereunder, as applicable:
- Taking a leading role in assisting Senior Management in the formulation of the Function’s workplan coordination and in particular devising and scheduling the programme of supervisory interactions with authorised trustees and fiduciaries;
- Particular focus on participating in, and leading onsite supervisory interactions to verify that authorised trustees and other fiduciary service providers are meeting the requirements of legislation and the relevant rules issued by the MFSA, as applicable to trustees and fiduciaries;
- Preparing and/or reviewing reports relating to supervisory interactions;
- Participating in and/or leading/overseeing other supervisory workstreams such as Thematic Reviews and Gap Analyses conducted by the Trustees & Fiduciaries team;
- Mentoring and managing junior team members to ensure that the duties assigned to the team are effectively carried out and reporting regularly to Senior Management on progress achieved;
- Reviewing the regular off-site reporting, including annual financial statements and returns, and/or coordinating/overseeing and acting as point of reference to other team members in the delivery of such workstreams;
- Dealing with queries from authorised trustees and fiduciaries or other stakeholders;
- Monitoring compliance with beneficial ownership reporting requirements applicable to trustees;
- Attending and taking the lead in meetings internally as well as externally with authorised trustees and other fiduciaries;
- Attending and taking the lead in meetings and/or participating in working groups internally or with other competent authorities and external stakeholders;
- Other ad hoc assignments related to specific regulatory and supervisory issues that may arise from time to time and to report on the outcome of such assignments as may be appropriate.
About You
We are looking for candidates with solid academic background in Law, Banking & Finance or in another finance related background.
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, and a minimum of seven (7) years experience in a related area.
A post Graduate Degree in any areas mentioned above would be considered an asset.
If you do not have the necessary academic or professional qualifications but you have at least thirteen (13) years of relevant experience in a senior similar role, we would still be interested in speaking with you.
The selected candidate is expected to be a confident individual who feels at ease working in a multidisciplinary environment, is flexible, proactive, dynamic, has the ability to prioritise tasks, has a critical and analytical mind-set and a high attention to detail even when under time pressure. The individual is also required to demonstrate good research and have excellent oral, written and presentation skills.
