Risk Manager - Malta

What will I be doing?

• Regulatory Liaison:  Ensure alignment with all local risk requirements and act as the focal point for the Malta Financial Services Authority (MFSA),. This professional will need to be approved (PQ’ed) by the regulator, MFSA
• .Risk Framework Implementation: Support the maintenance of the risk framework across Malta and other regions, ensuring alignment with global risk management standards and local regulatory requirements.
• IT Risk Management: Play a crucial role in implementing the second line of defense framework for IT Risk, ensuring that IT systems and operations comply with internal controls, best practices, and regulatory standards, starting in Malta and expanding to other countries.
• Risk Assessment: Conduct comprehensive risk assessments to identify potential threats and vulnerabilities within the organization’s operations, processes, and systems.
• Policy Development: Develop and implement risk management policies, procedures, and protocols to mitigate identified risks and ensure compliance with regulatory requirements.
• Reporting: Present periodic risk reports to the local Risk & Compliance Committee, Board of Directors, and the Regional Risk Forums. Additionally, prepare and submit relevant regulatory reports, including but not limited to Capital Adequacy Ratio, Wind Down Plan, ICT & Security Risk Report and other pertinent reports mandated by the MFSA and other regulatory bodies.
• Monitoring: Monitor key risk indicators (KRIs) and performance metrics to assess the effectiveness of risk management strategies and initiatives.
• Stakeholder Collaboration: Collaborate with internal stakeholders, including senior management, compliance teams, internal audit, and business units, to foster a culture of risk awareness and accountability.
• Audits and Examinations: Assist management during internal and external audits, examinations, and regulatory inquiries, providing documentation and support as needed.
• Strategic Input: Provide timely and insightful risk reports and recommendations to senior management and relevant committees to support strategic decision-making.
• Trend Analysis: Stay abreast of emerging risks, industry trends, and regulatory developments to proactively identify potential impacts on the organization and recommend appropriate actions.

What skills do I need?

• Regulatory Approval: Understanding of the Maltese regulatory framework. The candidate needs to be already approved by the MFSA for a similar role in another financial / credit institution or payments company.
• DORA Knowledge: Strong knowledge of the Digital Operational Resilience Act (DORA) and experience implementing similar regulations in various jurisdictions.
• Education: Bachelor’s degree in computer science or computer engineering, engineering, finance, economics, statistics, business administration, or a related field. Advanced degree or professional certification (e.g., CRISC, COBIT, CRMA, FRM, PRM, CFA, or CIA) is a plus.
• Experience: Minimum of 8 years of experience in risk management within the financial services industry, with a strong understanding of risk assessment methodologies, regulatory requirements, and industry best practices.
• Analytical Skills: Proven analytical skills with the ability to analyze complex data, identify patterns, and draw meaningful insights to support decision-making.
• Communication Skills: Excellent communication and interpersonal skills with the ability to effectively engage and collaborate with stakeholders at all levels of the organization.
• Organizational Skills: Strong organizational skills with the ability to manage multiple priorities and deadlines in a fast-paced environment.
• Problem-Solving: Problem-solving abilities with a proactive and solution-oriented approach to addressing challenges.
• Technical Proficiency: Proficiency in risk management tools and software. Familiarity with big data tools and databases (e.g., Python, SQL, Spark) and experience with data visualization tools (e.g., Looker, Power BI, Tableau, QuickSight).