Issue link: https://maltatoday.uberflip.com/i/1293199
13 maltatoday | WEDNESDAY • 30 SEPTEMBER 2020 COMMERCIAL LIKE many other companies and entities, the Malta Financial Services Author- ity regularly puts out calls for students to join its various teams. However, the MFSA's Work Experience programme is not just about gaining exposure but also offers students the opportunity to work at the core of real-life industry scenari- os and encourages them to actively take part in the Authority's day-to-day tasks and projects. The hands-on nature of the programme promotes and encourages individual de- velopment to such a degree that a signif- icant number of interns find themselves moving on to full-time employment within the MFSA upon graduation. In the run-up to Freshers' Week at University, and the start of another aca- demic year, we spoke to three such em- ployees who started out as interns and are now managing a full-time career at the MFSA with further postgraduate studies. We asked them to look back to their early days with the financial regu- lator and focus on what their internship experience meant for them, as well as why they decided to continue pursuing a career with the MFSA once they com- pleted their first cycle degree. These three employees - Eric Micallef, Federica Ursino, and Frederick Aquili- na – are now working with the Financial Crime Compliance, the Securities and Market Supervision, and the Insurance & Pensions Supervision teams respec- tively, and we listened to what each of them had to say. How would you describe your experi- ence working within the MFSA? Eric: Working at the Authority has been a great career starter as I am get- ting to work with a knowledgeable team while also having the added benefit of being exposed to every field in the fi- nancial services sector. I would describe my experience at the Authority as being diverse, challenging, enlightening, but most of all rewarding. Federica: My employment with the MFSA was my first full-time job after graduating in Banking and Finance from the University of Malta. At the time I was looking for a job which enabled me to put into practice what I had studied. In the past year working full-time with the Authority, I already learned so many things. It is a challenging job, but the ex- perience has been great so far. Frederick: I would describe working within the MFSA as a holistic and pos- itive experience. As I carry out my daily tasks at the office, I acquire new knowl- edge on a daily basis. Furthermore, I be- lieve that working at the MFSA, helps me stay up to date with any amendments in the local and international finan- cial sector regulations. Moreover, it is a pleasure to work at the MFSA as my colleagues are always willing to help me whenever I encounter a difficulty while on the job. How does the experience of working with the Regulator differ from working in the private sector? Eric: I think the main difference be- tween the two is that working with the financial Regulator opens up a window of authority to the entire financial ser- vices sector. As a result, it has enabled me to diversify my work experience at the earliest stages of my career. Federica: The stability of the financial sector is very important to the econo- my and the Regulator has a strong role to play in this regard. Working with the Regulator gives an insight into the finan- cial market, and you have a role in safe- guarding the market and protecting con- sumers. It is a job that gives me a great sense of achievement. Frederick: The main mission of the financial regulator is to safeguard the integrity of markets, maintain stability within the financial sector for the benefit and protection of consumers and policy- holders, enforce applicable laws and reg- ulation execute regular inspections and investigate any shortcomings and fail- ures in adhering with specific regulatory requirements. Private entities operate with different end missions in mind. Therefore, work- ing at the financial services regulator has given me a better insight on how the market functions. What attracted you to stay at the MFSA beyond your internship experience? Eric: Without a doubt, I have met some of the most driven and passion- ate people while working at the MFSA. Being surrounded daily with such an at- titude undoubtedly makes you want to stick around. Federica: The MFSA provides its em- ployees with a vast amount of training and studying opportunities. I have just started my career and the MFSA has al- ready given me the opportunity to con- tinue my studies. Frederick: As an employee, I am able to keep up-to-date with the required knowledge in my respective professional area, through funding in studies, web- based learning platforms and participa- tion in high quality training both locally as well as overseas. The MFSA also provides me with the opportunity to work flexible hours and to work remotely which helps me to bal- ance work with my other commitments, whilst reducing my carbon footprint. What are your tips to students who are thinking about a career in the financial services industry? Eric: The financial services sector is very diverse, full of opportunities. Be- ing a criminology graduate, I have been able to find a niche area within financial services in financial crime compliance. Thus, my advice to students expressing an interest in our sector would be to stay creative and always be ready to learn. Remaining flexible will ensure success in this contemporary, ever-evolving scene. Federica: The financial services in- dustry is so vast that you will never get bored. The opportunities to explore var- ious areas in the industry are endless. I graduated in Banking and Finance. How- ever, I will continue my studies in finan- cial law. I have just started my career, but I can already see that working within this sector will be challenging. Nevertheless, with commitment and hard work, every- one can accomplish great things. Frederick: As a former intern myself, I'd recommend looking for internship and apprenticeship opportunities. In- ternships have long been an excellent way for students to test the waters of the workplace in a variety of industries. Also, when it comes to financial services careers, think broadly. The term "finan- cial services" encompasses a wide range of jobs, roles, responsibilities and exper- tise. Find out about them and go for that which interests you the most. How do you feel that your experience interning with the MFSA prepared you for working in the financial sector? Eric: I started my internship a few months past the midway point of my Bachelor's degree in criminology. Ob- serving my colleagues perform compli- ance examinations and using the same tools that were discussed at University fuelled my motivation. My internship al- so showed me the inner workings of the function I now form a part of and made my transition from being a full-time student to full-time employment very smooth. Federica: Working at the MFSA con- tinued to increase my interest in the sec- tor. I started working as an intern in the Authorisation Function in November 2018. The tasks I was given related to a discrete part of the application process. Nevertheless, it piqued an interest to better understand the application pro- cess as a whole. Frederick: As a member of the MFSA team, I constantly feel encouraged to be- come the best version of myself. I learn on the job and I am frequently given the opportunity to take part in training. Crafting a pathway to individual success Eric Micallef Federica Ursino Frederick Aquilina