About the Compensation Schemes
The Depositor Compensation Scheme and the Investor Compensation Scheme have been established to provide a means of protection for customers of failed credit institutions and investment firms. Both Schemes are overseen by a Management Committee appointed by the Malta Financial Services Authority (MFSA). The Schemes are housed within the MFSA.
The selected officer will be reporting to the Chairperson and/or Secretary of the Compensation Schemes Management Committee or to any other person the Chairperson/Secretary may delegate for the purpose of assigning duties and responsibilities as applicable to the Grade from time to time.
- Liaise with the Competent Authority, Resolution Authority, Central Bank of Malta and other local and foreign authorities (including EBA) in providing input relating to draft technical standards and guidelines and recommendations,
- Administer periodical stress tests of the Depositor Compensation Scheme (DCS) conducted by the European Banking Authority,
- Prepare reports on the results of the stress tests and undertake corrective measures to address any weaknesses identified in the stress tests,
- Administer processes related to any cooperation agreements between home and host compensation schemes,
- Manage the Data Exchange and Payment system solutions provider and participate in any related user tests,
- Conduct formal routine checks of Single Customer View files of all credit institutions affiliated with the DCS
- Participate in the administration of the contributions, payment commitments and pledge requirements of the DCS and ICS in terms with regulations,
- Maintaining databases, records and files related with the DCS and the ICS,
- Communication with stakeholders,
- Administering the Schemes’ accounting and payment systems,
- Preparing the Annual Reports and annual financial statements, respond to queries and participate in surveys and questionnaires,
- Representing the Compensation Schemes in meetings, including meetings related with crisis management, stress testing and procurement, that are held locally and/or overseas,
- Undertake ad-hoc assignments related that may arise from time to time and to report to the Management Committee on the outcome of such assignments as may be appropriate and necessary.
The selected candidate will possess qualifications including:
- A University of Malta Degree or equivalent qualification in a relevant financial or mathematical subject or a comparable recognised qualification at NQF level 6 or better duly certified by the Malta Qualifications Recognition Information Centre (MQRIC)*.
- Proficiency in the use and handling of Microsoft office or equivalent applications would be considered an asset.
- Proven work experience within the financial services sector as well as familiarity with the relevant local legal and regulatory framework, would be considered an asset.
The selected candidate will possess relevant soft skills including:
- ability to multi-task and to meet strict deadlines
- well-developed written and verbal communication skills
- ability to work within a team
- ability to listen actively and to work on one’s initiative
- a high degree of self confidence
- good level of negotiation skills
How to apply or query for further information
Candidates are to forward a copy of their Curriculum Vitae (C.V.) and an accompanying covering letter providing the motivation for the application to firstname.lastname@example.org and email@example.com
Other important information
The Schemes are 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 Schemes reserve 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.org.mt under MQRIC heading.
The Schemes 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 Schemes webpage: www.compensationschemes.org.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.
Ref: Jobs Plus 616/2022