Remediation Manager within the Supervision Section
Jobsplus Permit No. 244/2021
Closing Date: 14th May 2021
The FIAU is seeking the strengthen its Supervision Section by recruiting a Remediation Manager. The duties and responsibilities shall include, but are not limited to, the following:
- Assist the Senior Manager and Head of Supervision in the strategic direction of the Supervision Section to ensure the effective implementation of its supervisory functions;
- Formulate a plan through which results of compliance examinations and remediation plans announced by subject persons are presented to the Supervision Committee on a timely basis. The Remediation Manager must also devise plans to monitor the effective implementation of remediation plans by subject persons, including through meetings with subject persons and reviews of remediations carried out;
- Oversee the operations of the Remediation Team within the Supervision Section to ensure adherence to FIAU internal policies, and agreed working practices and standards, and ensure efficiency of operations and use of resources. To this effect the Remediation Manager is required to organise and put in place systems to scrutinise and monitor the day-to-day operations and deliverables of the team such as by reviewing the quality of meeting minutes, remediation reports, and other documents compiled by the team and monitoring the timeliness of deliverables;
- Provide guidance and direction to the team for which the Remediation Manager is responsible during the conduct of supervisory meetings and examinations and other ongoing projects and perform adequate monitoring to ensure that these are executed within deadlines;
- Assist in the development and update of internal policies and procedures that are required for effective supervision;
- Cooperate with the Risk Manager in providing feedback on compliance examination outcomes and remediation initiatives to assist in the formulation of guidance to subject persons;
- Liaise, coordinate, and cooperate 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/ Malta Police and others as may be required from time to time;
- Assist the Senior Manager, Head of Section, Director and Deputy Director in the FIAU’s overall strategic planning and decision making;
- Provide advice to the Senior Manager, Director, the Board of Governors and other sections of the FIAU on supervisory and compliance matters;
- Provide support during FIAU ad hoc projects;
- Draw up studies, and research papers on various matters relating to supervision and compliance;
- Represent the FIAU at international meetings, fora and workshops;
- Assist in the compilation of questionnaires and assist in other task related to evaluations and assessments being undertaken by various local and international bodies such as the EU, Egmont, MONEYVAL, FATF, amongst others;
- Provide training on AML/CFT matters during seminars and events organised by the FIAU and other bodies and collaborate with the Legal Section of the FIAU in the issuance of AML/CFT guidance documents;
- Fulfil any other duties delegated by the Board of Governors, Director and Deputy Director of the FIAU.
Applicants must be in possession of a University degree (MQF Level 6) in law, banking and finance, financial services, criminology, insurance, accounting or economics. Candidates in possession of a University degree in another subject will also be eligible for this post, provided that they have proven experience in an area that is relevant to this position.
The applicants should be highly proficient in the laws that govern the prevention of money laundering and financing of terrorism in Malta and the international standards and EU legislation in the area. Sound knowledge of the relevant EU Directives and related domestic legislation that govern financial and ancillary services would also be required, together with a high level of familiarity with the operations of the financial services sector.
The candidates should also have excellent analytical and report writing skills. Applicants should be able to show a track record of technical competence, efficiency, leadership, ethical responsibility, and diligence to qualify for this managerial position.
- A dynamic working environment;
- Excellent career prospects;
- An attractive remuneration package, and other staff benefits;
- Health and Life Insurance;
- Flexi Time;
- Team building events.