Senior Manager
Conduct Supervision is responsible for the setting up and implementation of the regulatory framework aiming to secure appropriate consumer protection in operations of licence holders in the financial services industry in order to ensure that clients of financial services are treated fairly, honestly, and professionally by regulated entities. The team also enacts a pre-emptive supervisory regime which addresses potential or emerging risks for financial services consumers, together with an operational regime to strengthen the responsibilities of regulated persons in treating customers fairly. Conduct Supervision assume a cross-sectorial function covering under its remit supervision in conduct of banking, insurance and pensions, investments, and funds.
We are looking for a talented individual to join the Insurance, Pensions and Funds team. Reporting to the Deputy Head, the main responsibilities of the selected candidate are expected to be the following tasks:
- Devise and Implement a formal methodology on value for money in respect of retail products;
- Monitor the level of compliance (Insurance, pensions and/or retail collective investment schemes funds) by licence holders in line with their statutory and regulatory obligations emanating from their operating licences;
- Leading and managing the respective team;
- Participate and if necessary, lead, compliance visits and thematic reviews of licence holders;
- Ensure that policies and procedures are kept up to date and reflect current practices of the Conduct Function;
- Act as a reference point to other staff members and involve him/herself in ad hoc assignments related to specific regulatory and supervisory issues that arise;
- Undertaking and reporting on the outcome of the different assignments as may be appropriate and necessary;
- Exercise supervisory judgement in handling cases, challenging licence holders on supervisory issues and ensure that such issues are dealt with expeditiously;
- Keep up to date on all developments relating to new legislation, amendments to existing rules, etc. and develop supervisory processes and procedures to effectively implement accordingly;
- Representing the Authority in engagement with internal and external stakeholders including representation on any Standing Committees / Working Groups relating to Conduct Supervision;
- Mentor, coach, train and act as referral point for other analysts in the carrying out of their respective duties; and
- Undertake any other duties / ‘ad-hoc’ tasks as delegated by the Function’s senior management in line with the exigencies of the Conduct Function and the Authority.
We are looking for candidates with interest in the financial services area, preferably in the Pensions and / or Funds areas. 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. You will also possess a minimum of 8 years of work experience within a relevant area.
If you do not have the necessary academic or professional experience qualifications, but you have at least 15 years of work experience, we would still be interested in speaking with you. Candidates with longer work experience relevant to the role will be preferred.
The following skills and attributes are important for this position:
- Interest in the areas of Consumer Protection;
- Sound knowledge on Pensions and / or retail collective investment schemes funds;
- Sound knowledge on Product Oversight and Governance and Value for Money;
- Well-developed written and verbal communication skills;
- Attention to detail and critical thinking; and
- The ability to work in a team.
The preferred candidate will be given various opportunities to learn and be trained for the role, through various mechanisms which the Authority holds such as the Financial Supervisors Academy and on the job training.
