Senior Remediation Associate within the Supervision Section
Jobsplus Permit No. 550/2021
The FIAU is seeking to strengthen its Supervision Section through the recruitment of a Senior Remediation Associate. Responsibilities include:
- Assist the Remediation Manager in managing, leading, mentoring, and guiding the Remediation Team to ensure the effective implementation of the annual remediation and follow-up plan;
- Assist the Remediation Manager in the development and update of internal policies and procedures required for effective remediation practices;
- Carry out timely review of outcomes of compliance examinations and remediation plans announced by subject persons and presenting the outcome of such reviews before the Supervision Committee;
- Participating in Supervision Committee meetings and documenting the results of discussions held, on a timely basis;
- Preparing remediation or closure letters to subject persons clearly describing decisions taken by the Supervision Committee on the outcome of compliance examinations and remediation plans executed by subject persons;
- Assisting in the planning and management of Supervision Committee meetings;
- Carrying out reviews to confirm the effective implementation of remediation plans by subject persons, including through meetings with subject persons, system walk-throughs, documentary reviews and sample-based testing;
- Advising and assisting subject persons to establish appropriate AML and CFT internal structures and controls;
- Participate in training provided to subject persons, supervision officers or other supervisory authorities;
- Cooperating with the Risk Team in providing feedback on compliance examination outcomes and remediation initiatives to assist in the formulation of guidance to subject persons;
- Liaising, coordinating, and cooperating 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 / the Malta Police Force and others as may be required from time to time;
- Assisting in other task related to evaluations and assessments being undertaken by various local and international bodies such as the EU, the Egmont Group, MONEYVAL, FATF, etc;
- Carrying out any other job-related duties as may be assigned by the Director, Deputy Director, Head, Senior Manager and Manager, from time to time.
Applicants must be in possession of a University degree (MQF Level 6) in law, banking and finance, financial services, insurance, accounting, economics or any related subject. 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 post.
• A dynamic working environment
• Excellent career prospects
• An attractive remuneration package, and other staff benefits
• Flexi Time
• Team building events