Job Description
In line with the aim of further strengthening Malta’s Anti-Money Laundering and Counter Financing of Terrorism (AML / CFT) regime, the FIAU was vested with the power to monitor compliance with the Use of Cash (Restriction) Regulations (SL 373.04) (‘the Regulations’). Through these regulations, the FIAU aims to reduce the illegal use of cash in Malta in certain sectors of the Maltese economy so as to decrease the possibility that these sectors be exploited for ML / FT purposes. The Cash Restriction Section is responsible for raising awareness with respect to the Regulations whilst having the necessary controls in place to detect, investigate and sanction cases of illegal use of cash.
In this regard, the FIAU is seeking to recruit a Junior Compliance Officer to strengthen the Cash Restriction section.
The Role
The candidate will be performing duties to improve the Section’s efficiency in relation to the monitoring of compliance and ensuring adherence to the Use of Cash (Restriction) Regulations as guided by the Prevention of Money Laundering Act (Cap 373 of the Laws of Malta), together with the following duties:
- Assist in the conduct of compliance investigations, collect the necessary evidence and draw up reports in relation to suspected cases of breach to the Regulations
- Liaise and cooperate with various stakeholders and competent authorities including Government agencies
- Assist with the enforcement of both administrative and criminal aspects of the law
- Assist in the analysis of transactional data to detect suspicious transactions that require an in-depth compliance investigation to ensure adherence to the Regulations
- Participation in internal meetings and committees as may be required
- Dealing with incoming and outgoing correspondence and maintaining the Case Management System updated
- Carrying out onsite visits to gather the necessary information
- Assisting in the Collection of comprehensive statistical data
- Provide support during FIAU ad-hoc projects
- Represent the FIAU at local or international meetings and workshops as necessary
- Carry out any other duties as assigned by management
Requirements
- The chosen candidate must be in possession of a diploma (MQF Level 5) qualification preferably in Banking, Law, Accountancy, Forensic Accountancy, Audit, Finance or other relevant subjects, and at least 2 years of work experience relevant to this position or in possession of an MQF level 4 preferably in Banking, Law, Accountancy, Forensic Accountancy, Audit, Finance or other relevant subject, and at least 3 years work experience relevant to this post
- Fluency in both Maltese and English languages is essential
- Sound knowledge and practical understanding of the Use of Cash (Restriction) Regulations (SL 373.04) and other laws that govern the prevention of money laundering and financing of terrorism in Malta and the applicable international standards and EU legislation
- Outstanding written and verbal communication skills
- Proficiency in the use of Microsoft Office and Office automation tools
- Acquaintance with data visualization tools such as Microsoft Power BI and i2 Analyst’s Notebook
- Excellent analytical and report-writing skills and a proven track record of technical competence, efficiency, leadership, ethical responsibility, and diligence
We Offer:
- Health and life insurance group cover
- Work from home
- Sponsorship training scheme
- Training and study Leave
- Family-friendly measures
- Team building events
- Free parking (first come first served)
JobsPlus Permit No: 161/2023.
