The Resolution function is responsible for developing and implementing resolution plans for banks, certain investment firms, and insurance undertakings to ensure that failing institutions can be managed without threatening financial stability. It advises the Resolution Committee on whether an institution should enter liquidation or resolution and on the appropriate use of resolution tools. Operating independently from supervision, the function works within the framework of the MFSA Act. Currently resolution is organised into five interconnected teams: Policy & Legal, which handles legislative transposition, policy drafting, and ESAs guideline implementation; Resolution Planning for banks, in cooperation with the Single Resolution Board and processes related to resolution funds; Resolution Planning for certain investment firms which prepare institution specific resolution plans and the Compensation Schemes team. A new team to handle the Resolution process for insurance undertakings including resolution planning, legal and policy matters and the resolution fund for this sector will be created in the coming months. All teams engage regularly with European and local authorities, contributing to working groups, meetings and task forces.About the Role The successful candidate will be expected to contribute to the various duties that are undertaken by Resolution particularly related to insurance undertakings and compensation schemes including the following tasks as necessary:
To deputise for the Head when necessary;
To cooperate with the Head and Resolution team to achieve the objectives of Resolution;
To be responsible for the day to day running of Resolution Insurance Undertakings team and apply decisions taken by the Head;
To prepare yearly staff reviews in collaboration with the Head and senior staff and hold meetings with staff members as required;
To assist the Head in preparing Resolution budgets and allocation of resources;
To discuss work plans with senior staff;
To have a significantly advanced grasp of technical matters related to resolution;
To have good management skills to guide the Resolution Insurance Undertakings team on a technical level and on an interpersonal level and mentor more junior colleagues;
To review the output of the Resolution Insurance Undertakings team and provide feedback as required;
To supervise resolution planning of insurance undertakings falling within scope of IRRD and application of policies and guidelines;
To supervise the process of resolution funds for insurance undertakings;
To participate in resolution colleges and draft policies and plans if necessary;
To take an active part in the discussions in relevant EIOPA committees or task forces and other meetings internally and with other external stakeholders, analyse documents and review staff contributions accordingly;
To represent Resolution on domestic and international working groups and task forces related to resolution;
To provide comments to the Ministry of Finance when necessary and liaise with other stakeholders and other MFSA functions;
To assist the Head in the day to day running of the Compensation Schemes team;
To review work prepared by the Compensation Schemes team as necessary;
Undertake any other duties as assigned by the Head and/or as may be required by the MFSA from time to time based on the exigencies of the Authority.
About You The role calls for an academic qualification at MQF Level 6 or equivalent qualification in: Law, Economics or Insurance and Risk Management. Previous experience on Resolution, Compensation Schemes and/or on areas related to the insurance sector will be considered an asset. Professional certifications in the field are advantageous.A minimum of 6 years prior experience in a senior level, preferably within the financial services sector or related fields.If you do not have the necessary academic qualifications and minimum years' experience but you have at least 10 years prior experience in a senior level role we would still be interested in speaking with you.Skills and competencies:
Strong knowledge of Resolution, Crisis Management tools and IRRD
Proven ability to lead a team.
Analytical, interpersonal, and leadership.
High level of integrity, professionalism, and reliability.
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 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 .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.
