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

Risk Associate

Jobsplus Permit No: 306/2021

The Role

The FIAU is looking to further enhance its Supervision Section by welcoming a new Associate to join its dynamic Risk Team

Duties and Responsibilities

Assisting in conducting the risk assessment of subject persons across all sectors, by ensuring that such are carried out in line with the FIAU’s risk assessment methodology and within the required timeframes.
Assisting in the compilation of risk evaluation questionnaires.
Ensuring risk profiles are updated at all times by identifying and monitoring any significant changes and risk trends.
Assisting the Risk Manager, Assistant Manager and the Supervision Section in the carrying out of risk related projects and ad hoc tasks.
Assisting the Risk Manager, Assistant Manager with the extraction, collation and analysis of data obtained through both thematic and other supervisory reviews in order to provide guidance to subject persons, including assisting in the drawing up of guidance papers.
Assisting the supervision teams and agents in the provision of risk data and trends relevant to the conduct of compliance examinations,
Carrying out verification checks on risk data available through validation checks, subject persons’ document reviews and supervisory meetings.
Liaising, coordinating, and cooperating with various Competent Authorities including the Malta Financial Services Authority/Malta Gaming Authority /Sanctions Monitoring Board /the National Coordination Committee for the Prevention of Money Laundering and Funding of Terrorism/the Malta Police Force and others as may be required from time to time.
Assisting in other tasks related to evaluations and assessments being undertaken by various local and international bodies such as the EU, the Egmont Group, MONEYVAL, FATF, etc, as well as providing support with regards to data needed for national and supranational risk assessments.
Participating in training provided to subject persons, supervision officers or other supervisory authorities.

Requirements

An MQF Level 6 qualification in Law, Banking and Finance, Financial Services, Insurance, Accounting, Economics, Criminology, or in any other subject, with three (3) years of relevant work experience or
An MQF Level 5 qualification in in Law, Banking and Finance, Financial Services, Insurance, Accounting, Economics, Criminology, or in any other subject, with four (4) years of relevant work experience.
Knowledge and practical understanding of the laws that govern the prevention of money laundering and financing of terrorism in Malta and the applicable international standards and EU legislation;
Knowledge or experience in carrying out AML/CFT related checks, risk assessments, data analysis or statistics;
Outstanding written and verbal communications skills in English, analytical skills
Proficiency in the use of Microsoft Office
Knowledge of Power BI and other data analysis tools is considered an asset
A clean criminal record.

What We Offer