About the Department

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

In the role as Junior Analyst, you will be trained and develop as a supervisor in the Insurance and Pensions area within the MFSA. Your responsibilities include:

• Assist the team in onsite and offsite supervision, in order to carry out prudential supervision of licensed insurance licence holders;
• Undertake analytical duties related to compliance by insurance licence holders in line with their statutory obligations emanating from their operating licences.
• Carry out on-going off-site surveillance on licence holders.
• Assist in the monitoring of the level of compliance with applicable regulatory standards by licence holders and eventually the regulatory obligations emanating from the Insurance and Insurance Distribution legal framework.
• Participate in on-site compliance visits of insurance licence holders.
• Involve himself/herself in ‘ad hoc’ assignments related to specific regulatory and supervisory issues that arise from time to time;
• Report on the outcome of the different assignments as may be appropriate and necessary.
• Carrying out or assisting the IPS in any other duties as may be determined by the Employer from time to time.
• Deliver and share training material and outcomes to IPS staff members following training that the Employee has been requested to attend by the Employer.

You will also be expected to undertake any other duties that may arise depending on the exigencies of Insurance & Pensions Supervision and the Authority.

About You

We are looking for candidates with interest in the financial services area, preferably in the Insurance or finance 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. 

If you do not have the necessary academic or professional qualifications but you have at least 1 years work experience, we would still be interested in speaking with you. Candidates with longer working experience relevant to the role will be preferred. 

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.