About Resolution

Resolution is responsible for drafting resolution plans for banks and certain investment services firms, advise the Resolution Committee on whether an institution should go into liquidation or resolution and the application of resolution tools when necessary. Resolution interacts on an on-going basis with European institutions and local Authorities. 

In order to retain its operational independence from the supervisory function, the MFSA Act contemplates the creation of a Resolution Committee and its underlying structures. The Resolution Committee has all the powers assigned to it by the Resolution Authority under the above-mentioned Act. The Resolution functions are carried out as contemplated by the Act and as provided for by the Resolution Committee. Furthermore, Resolution also administers the requirements emanating from the Bank Recovery and Resolution Directive (BRRD), Single Resolution Mechanism Regulation (SRMR), the Recovery and Resolution Regulations (RRR) and the Intergovernmental Agreement (IGA) on the transfer and mutualisation of contributions to the Single Resolution Fund. 

Moreover, Resolution interacts continually with European institutions mainly the Single Resolution Board (SRB) and local authorities to draft resolution plans for banks and certain investment firms. They also advise the Resolution Committee on whether an institution should go into liquidation or resolution, applying resolution tools as necessary. Furthermore, they manage the process related to Resolution Funds and draft necessary Policies and Legislation supporting the resolution process.

Resolution is composed of two main teams which are inter-related, Policy & Legal and Resolution Planning. Policy & Legal is focused on transposition and drafting of relevant legislation and issuance of circulars to apply European Banking Authority (EBA) Guidelines. This team is also responsible for the analysis of policy documents, drafting of policies and procedures to operationalise resolution functions set in legislation, and for processes related to contributions towards Resolution Funds. Resolution Planning involves preparing resolution plans, based on requirements emanating from relevant legislation and policies, for credit institutions and certain investment firms licensed in Malta, in cooperation with the SRB. Both teams are also involved in meetings and task forces at international and local level. 

 

The Role

The successful candidate will join a multidisciplinary team and will be expected to join in the various duties that are undertaken by Resolution including the following tasks as necessary:   

• Prepare resolution plans and/or assist in the drafting of such plans, also in collaboration with the Internal Resolution Teams led by the Single Resolution Board;
• Analyse and discuss with Senior colleagues the contents of recovery plans as appropriate given the implications that such plans may have on the resolution plans;
• Conduct or assist with the Public Interest and Resolvability assessments;
• Conducting assurance checks of data related to Resolution Reporting and other data used in the resolution planning process;
• The appointee may also be involved in on-site compliance visits or deep dives performed by the Resolution Unit;
• Conducting policy related tasks including drafting of internal policy papers, commenting on policy related documents, and participating in policy team meetings as necessary;
• Provide comments to the Ministry responsible for Finance on resolution-related documents and liaise with the Central Bank of Malta and other MFSA Functions;
• Implementing SRB policies and the EBA’s Standards and Guidelines;
• Conduct or assist with the analysis and preparation of comments on documents discussed in various Working Groups and Task Forces pertaining to SRB and EBA Resolution Committees;
• Participation and contribution to meetings both locally and overseas, as appropriate;
• To oversee and guide more Junior Staff members in part of his/her duties;
• Undertake ad-hoc assignments related to resolution aspects, that may arise from time to time, and to report on the outcome of such assignments as may be appropriate and necessary. 

About You

We are looking for candidates with solid academic background in Accountancy, Banking and Finance, Economics or in a similar policy-oriented background or relevant experience. 

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. Possession of a post graduate degree in a discipline relevant to the financial services sector would be considered an asset.

You will also possess at least three (3) years of working experience within the financial services.

If you do not have the necessary academic or professional qualifications but you have at least seven (7) years of relevant experience, we would still be interested in speaking with you. 

Other important 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 Privacy Notice on the MFSA webpage - https://www.mfsa.mt/privacy-notice/. 

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.

Public Call No: 953/2024