Finance Jobs in Malta
Malta, finance job openings
The financial services sector in Malta is thriving and this brings with it a number of opportunities for professionals interested in developing a career in finance. There are four main financial services sectors in Malta, namely, Investment Services, Insurance, financial Institutions and Banking. To this Corporate Service Providers (CSPs) can be added as a fifth sector, these are companies that service other companies in terms of their corporate and governance requirements.
Companies in financial services are usually regulated
Companies operating in the sectors listed above (including CSPs) are regulated by the Malta Financial Services Authority (MFSA) and will require to obtain a licence or a recognition in order to operate. Furthermore it is usual for key people working within these companies to require approval from the MFSA. This occurs through the submission of a personal questionnaire (PQ) by the company seeking to employ the individual, following which a due diligence process is carried out by the authority prior to approval. Whilst the MFSA approves each position on a case by case basis, candidates usually are only required to fill in a PQ once for their first key role, and then again every five years.
Jobs in financial services
There are various positions in financial services and many of them specific to the particular industry (insurance specialists, investment advisors, bankers) but there are also a number of them that are quite horizontal in terms of function. Examples if such roles are those of Compliance Officer, Risk Manager and Money Laundering reporting Officer. These roles require specific training and experience and companies in Malta are struggling to find and retain suitable and competent candidates. Other professions which are of particular interest to the financial services sector in Malta are accountants and lawyers.
Independent Non-executive roles
There is a good demand in Malta for independent non-executive Directors within companies regulated by the MFSA. The appointment to these positions also requires approval from the MFSA via a PQ as outlined above. It is unlikely to see such roles advertised on online jobs portals as often suitable candidates are sought via CSPs or legal firms, through personal connections, or via a recruitment firm. Azure Rock Partners Ltd, the owners of wworkingtown.com are well connected in the space and receive regular requests for people suitable to occupy non-executive positions.
Financial services companies can use Working Town to advertise their vacancies so it’s worth browsing through the latest vacancies listed there.