Monday, 11th November 2024
The Westin Dragonara Resort, St. Julian's
This event has already passed and registrations are closed.
Overview
The theme of the Conference is ‘Navigating the Reforms in Banking Regulation’. After ten years since the inception of the SSM, we will reflect upon the significant transformation in the realm of banking supervision. Over the past decade, the SSM has enhanced the uniformity and rigor of supervisory practices, leading to a more resilient banking sector. It has played a crucial role in conducting comprehensive assessments, such as stress tests and asset quality reviews, to ensure that banks maintain adequate capital buffers and can withstand economic shocks, and has also been instrumental in promoting transparency and harmonising regulatory standards across member states, reducing the risk of regulatory arbitrage. However, the SSM has faced challenges, including adapting to the complexities of supervising a diverse range of banking institutions and dealing with emerging risks such as digitalisation, cybersecurity threats, and climate change. Despite these challenges, the SSM has generally succeeded in strengthening the stability of the European banking system, fostering greater confidence among investors and depositors, and contributing to the broader goal of financial integration within the Eurozone.
The aim of the Conference is to give an update of banking regulation to the industry, enhance transparency around the MFSA’s expectations from banks and encourage preparedness to upcoming regulations. In the light of the above, the Conference will address regulatory reforms being implemented through the new Banking Package, including Climate and Environmental Risks, the AML regulatory enhancements and DORA and the MFSA will provide insights into results from its various workstreams and preparedness exercises.
Who Should Attend
- Banks' Chairpersons, CEOs, CROs and Compliance officers, as well External Auditors and Advisory Firms
Agenda
| 08:30H | Registration & Welcome Coffee | |
| 09:00H | Opening Statement
Kenneth Farrugia - Chief Executive Officer, MFSA |
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| 09:10H | Keynote Speech: The Future of Banking Supervision: Opportunities and Challenges
Elizabeth Mc Caul - Member of the ECB Supervisory Board |
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| 09:30H | Proportionality in Banking Supervision
Christopher P. Buttigieg - Chief Officer Supervision and Chair of Regulatory Committee, MFSA; ESMA and EBA Board Member; Chair of ESMA Proportionality and Coordination Committee |
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| 09:50H | Panel Session 1: Looking Forward to the Upcoming Implementation of CRR III and CRD VI
Nikolaos Grapsas - Deputy Head, Banking Supervision, MFSA (Moderator) Jan Willem Slingerberg - Head of Department Supervisory Policy, De Netherlandsche Bank |
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| 10:40H | Coffee Break | |
| 10:55H | Cyber Resilience Testing within the Banking Sector
Matthew Ben Hamed, Senior Analyst, Supervisory ICT Risk and Cybersecurity, MFSA |
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| 11:25H | LSI SREP Benchmarking and Supervisory Effectiveness: A Reflection of Four Years' SREP Cycles
Anabel Armeni Cauchi - Deputy Head, Banking Supervision, MFSA |
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| 12:05H | Lunch | |
| 13:05H | The Role of the New Union AML/CFT Framework in Combating Financial Crime
Olena Loboiko - Policy Officer, Financial Crime Unit, DG FISMA, European Commission |
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| 13:25H | Panel Session 2: The Role of AMLA and AMLR in Combatting Financial Crime
Alfred Zammit - Director, FIAU (Moderator) Jo Swyngedouw - Head of Financial Stability, AML Supervision and Banking Prudential Policy, National Bank of Belgium |
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| 14:10H | Coffee Break | |
| 14:25H | 10 Years of the SSM - Looking Back on Lessons Learnt
Patrick Amis - Director General of the Directorate General Specialised Institutions and LSIs (DG SPI), ECB |
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| 14:50H | Panel Session 3: 10 Years of the SSM - Looking Back on Lessons Learnt
Catherine Galea - Head of Banking Supervision, MFSA (Moderator) Karol Gabarretta - Secretary General, Malta Bankers' Association; Previous Member of the ECB Supervisory Board |
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| 15:35H | The MFSA's Expectations from NEDs on Banks' Boards
Anabel Armeni Cauchi - Deputy Head, Banking Supervision, MFSA |
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| 16:15H | Concluding Remarks
Jesmond Gatt - Chairman, MFSA |
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Registrations
The Authority encourages interested participants to register by filling in the form below by not later than Thursday 7 November 2024.
Registration is on a first come, first served basis.
Photos will be taken during the event with the intent to publish such photos on social media channels and websites. By registering, one would be granting consent to such data being used.
Speakers
Chief Executive Officer, MFSA
Kenneth Farrugia
Kenneth Farrugia, CEO of the MFSA, holds a Bachelor of Accountancy (Hons), an MA in Business Ethics, and is a Certified Public Accountant and a fellow member of the Malta Institute of Accountants (MIA). Throughout his career, Mr Farrugia held audit positions both within private audit firms and the public sector. Prior to joining the MFSA, Mr Farrugia was the Director of the FIAU, Malta’s financial intelligence and single AML/CFT Supervisor and Enforcement Unit in Malta, for six years until April 2023. During his tenure he implemented major policy, system and procedural reforms within the various sections of the FIAU, including intelligence analysis, AML/CFT supervisory and enforcement initiatives, and legal and international relation areas. Additionally, Mr Farrugia spearheaded the setting up of new teams within the Unit such as the cash limitation supervisory team, the central bank account registry and data analytics team, as well as the strategy, policy and quality assurance teams to cater for new responsibilities assigned to the FIAU by law, and also to enhance the overall governance structure of the Unit. He represented the FIAU in international fora, including the EBA AMLC, FIU Platform and EGMONT, amongst others, and participated in various AML/CFT high-level committees. For nine years up to 2017, he was engaged within the Government of Malta’s Internal Audit and Investigations Department (IAID) where he held various roles, including that of Director General. Mr Farrugia provided support to the Internal Audit & Investigations Board (IAIB) in drafting policies and procedures, implementing and managing the necessary change programmes and served as Secretary to that Board. He also participated in various meetings, seminars and conferences organised by the European Commission in the fields of auditing and financial investigations. Mr Farrugia is currently also the Chairman of the FIAU.
Chairman, MFSA
Jesmond Gatt
Jesmond Gatt was appointed as Chairman of the Board of Governors of the Malta Financial Services Authority in 2023. Mr Gatt joined the Central Bank of Malta in 1984, graduating in Mathematics and Computing at the University of Malta in 1995. During his career at the Bank, which spans over 37 years, he has worked on all major IT projects holding the position of Chief Officer responsible for retail banking services, management of currency and the regulation of payment systems and infrastructures. He formed part of the core financial sector team which oversaw the changeover to the Euro in Malta in 2008. Since Malta became part of the European Union he has been a member of a number of Euro system and European Commission committees working on payments systems and the management of euro notes and coins. He has also participated in a number of European Commission initiatives drawing up payment systems regulations. Since 2016 he has been sitting on the Board of the FIAU, acting as Chairman to the Board from 2020. In December of 2022 he has taken up the role of Chief Executive Officer at the Malta Government Investments.
Chief Officer Supervision, MFSA
Christopher Buttigieg
Dr Christopher P. Buttigieg was appointed as Chief Officer Supervision in March 2020 following his appointment as Chief Officer Strategy, Policy and Innovation in 2019. During his tenure as Head of Securities and Markets Supervision before 2019, which stretched over four years, Dr Buttigieg was responsible for work in the field of policy, regulation and supervision of securities, markets and FinTech. He joined the Authority in 2000 as Manager in the Investment Services Unit and has gained professional experience in various areas of financial regulation, supervision, the investigation of market misconduct and the enforcement of sanctions. Dr Buttigieg was responsible for implementing various pieces of EU legislation in the field of securities and markets and has led different regulatory and supervisory teams within the Authority. He sits on the Authority’s Supervisory Council and represents the MFSA at various European Fora on financial regulation and supervision. He is the MFSA’s alternate member on the ESMA Board of Supervisors and is the Chair of the ESMA Data Standing Committee. Dr Buttigieg is a lecturer in the Banking and Finance Department of the University of Malta and has published various papers on financial regulation and supervision in academic and professional journals. For a period of two years, up to April 2015, Dr Buttigieg was a director on the board of the Malta Resources Authority, Malta’s energy regulator. In 2015, the President of Malta appointed Dr Buttigieg as a member on the board of the Fund for Voluntary Organisations. Dr Buttigieg is also a member of the Board of Trustees of the Academy of European Law (Trier).
Chief Officer Enforcement, MFSA
Michelle Mizzi Buontempo
Dr Mizzi Buontempo has been occupying the position of Chief Officer Enforcement since March 2020, after five years heading the Conduct Supervision function within the MFSA. Michelle has over twenty years of experience in the regulation and supervision of different areas within financial services, including supervision of investment firms and fiduciaries. She represented the MFSA at various Committees of the ESAs and is a member of the ECB Supervisory Board. During her career within the MFSA, Michelle has been entrusted with the responsibility of piloting a number of projects including the setting up of a regulatory regime to enhance consumer protection in the investments and insurance sector, as well the establishment of a new regulatory framework for trustees and company service providers. Michelle regularly lectures on corporate governance and consumer protection. An advocate by profession, Michelle was awarded a Masters Degree in Financial Services from the University of Malta. She also holds a warrant to practice in the Maltese Courts. Prior to joining the MFSA, she headed the corporate division of a leading audit firm specialising in financial services.
Head, Banking Supervision, MFSA
Catherine Galea
Catherine Galea is the MFSA’s Head of Banking Supervision. She commenced her career with the Central Bank of Malta in 1990 before joining the MFSA in 2002 in order to pursue her career within Banking Supervision and in 2010 was assigned the responsibility of setting up the banking section within the Authorisations function. Later, Catherine was appointed as Head of Banking Supervision and was also the Malta member within the SSM Supervisory Board. From 2020 till 2023, Catherine was subsequently entrusted with setting up and heading the Supervisory Quality Assurance function within the MFSA. Throughout her career, Catherine was also responsible for transposing and implementing various pieces of EU legislation in the field of banking supervision and has led various supervisory teams and working groups within the Authority. She actively participates and represents the MFSA in various international fora. Furthermore, she is a frequent lecturer at local educational institutions on various regulatory issues, including the Capital Requirements Regulation/Directive and Risk Management. Catherine is an Associate of the Chartered Institute of Bankers (ACIB) and holds an MSc degree in Finance from the University of Leicester (UK).
Director, FIAU
Alfred Zammit
Alfred Zammit, Director of the FIAU, joined the Unit in 2010 and was appointed Director in December 2023. Mr Zammit regularly participates in AML/CFT international workshops and conferences, and represents the FIAU in international I, such as the meetings of the Egmont Group of FIUs, the EU FIU Platform and Moneyval, among others. He has participated in various AML/CFT training sessions, both locally and internationally, and regularly contributes in formulating AML/CFT guidance documents, legal amendments and the transposition of EU AML/CFT directives. Mr Zammit also participates in the various internal committees, including the Compliance Monitoring Committee, which reviews compliance cases and possible breaches by subject persons of the pertinent legislation.
Head of Financial Stability, AML Supervision and Banking Prudential Policy, National Bank of Belgium
Jo Swyngedouw
Jo Swyngedouw is Head of the Financial Stability, Prudential Policy and AML Supervision Department at the National Bank of Belgium (NBB). Jo studied law and economics (M.A.) at the K.U. Leuven (Belgium) and is lecturer at the University of Antwerp. Since the inception of the European Banking Authority (EBA), Jo is alternate or member (since 2013) of the Board of Supervisors, was member of the Management Board and was Vice-Chairman of the EBA from July 2018 until July 2023. In that capacity, Jo acted as interim Chairperson of the EBA in the period January until May 2019. Since February 2020, Jo is Chair of the EBA Standing Committee on Anti-Money Laundering and Countering the financing of Terrorism (AMLSC). Jo chaired the Belgian delegation during the Belgian EU presidency negotiating and concluding the AML Package in the first quarter of 2024.
Policy Officer, Financial Crime Unit, DG FISMA, European Commission
Olena Loboiko
Olena is a policy officer at the European Commission, currently working in the Financial Crime unit of DG FISMA, with extensive experience and expertise in European regulatory and policy framework in the financial sector. Over the last 3 years, Olena has been involved in all Commission’s initiatives the area of anti-money laundering and countering the financing of terrorism relating to the financial sector, including the recent legislative proposals. Previously, Olena has worked in the Banking unit of DG FISMA, in the area of prudential regulation for banks. Before joining the European Commission in 2017, Olena has worked at De Nederlandsche Bank (Dutch Central Bank) in the area of prudential supervisory policy for over 5 years. Olena received her LLM in European Union law (cum laude) from Erasmus University of Rotterdam in 2011, and is an MBA candidate at Bayes Business School, City University of London.
Director General of the Directorate General Specialised Institutions and LSIs (DG SPI), ECB
Patrick Amis
Patrick Amis is Director General of the Directorate General Specialised Institutions and LSIs at the European Central Bank, entrusted with the direct supervision of 52 significant banks and the oversight of the less significant institutions within the European Single Supervision Mechanism. He is also in charge of the integration of climate-related risks into the European Central Banks’ supervisory approach. Before his current appointment he joined the ECB in March 2014 as Deputy Director General at the Directorate General Micro-Prudential Supervision I, responsible for the direct supervision of the 30 largest and more complex of the significant institutions in the Eurozone, and then as Director General of LSI oversight. Before joining the ECB, Patrick Amis had a supervisory career in the Banque de France, which he joined in 1995, where he took a variety of positions in line supervision and prudential policy. He also chaired working groups on accounting, both in the Basel Committee and in the Committee of European Banking Supervisors (CEBS) and was Deputy Secretary General of CEBS from 2008 to 2010.
Member of the ECB Supervisory Board
Elizabeth Mc Caul
Elizabeth McCaul is a Member of the Supervisory Board of the European Central Bank. Her areas of responsibility include the Supervisory Review and Evaluation Process (SREP), internal governance and risk management, the digital agenda, the training program of the SSM as well as diversity and inclusion. She focuses on prudential implications in dynamic areas such as the oversight of FinTech and supervision of crypto-assets, cyber and IT risk and the digital transformation of the banking sector. She joined the NY State Banking Department as First Deputy in 1995 and served as NY Superintendent of Banks from 1997-2003. She was elected Chair of the Conference of State Bank Supervisors, served as a Member of the Federal Financial Institutions Examinations Council, on the Joint Forum for Financial Conglomerates and as an Instructor for Financial Stability Institute at the BIS. Before joining the ECB, she worked for Promontory Financial Group where she founded the New York office and served as the Partner-in-Charge, as CEO and Chair of Europe, and Global Head of Strategy. For the first decade of her career, she was an investment banker at Goldman Sachs.
Chief Risk Officer, BNF Bank
Glen Smith
Glen Smith is an experienced financial services professional with over 30 years' experience in financial services and banking, specialising in Risk and Regulation. He has occupied various senior management roles across international financial markets in both retail and commercial banking. Prior to his appointment with the Bank, Mr Smith held the role of Senior Risk Manager with HSBC Continental Europe, based in the Paris Head Office. This included the management and oversight of wholesale credit risk activities, reporting, regulatory risk and controls, covering France, Germany, Malta and other territories.
Head of Department Supervisory Policy, De Netherlandsche Bank
Jan Willem Slingerberg
Jan Willem Slingenberg is Head of the 'Supervisory Policy Banks' department at the Dutch Central Bank (DNB), making him responsible for coordinating all national and international policy issues relating to banking supervision. Jan Willem is the co-chair of the EBA subgroup on Securitisations and Covered Bonds, member of EBA Standing Commiteee on Regulation and Policy, member of the BCBS Policy and Standards Group and alternate to the BCBS. During his time at DNB, Jan Willem has worked in different (management) positions in various fields, ranging from banking supervision to financial stability. During this time, he was also seconded to the SSM in Frankfurt. Mr. Slingenberg holds a Masters degree in Economics from the University of Amsterdam.
Secretary General, MBA
Karol Gabarretta
Karol Gabarretta is the Secretary General of the Malta Bankers’ Association as from the 23 July 2018. Mr Gabarretta represents the Association on various local bodies, such as the Management Committee of the Deposit Compensation Scheme, the Board of Governors of FinanceMalta and the Malta Financial Services Advisory Council. He also sits on the Executive Committee of the European Banking Federation (EBF). He holds a Bachelor’s degree in Economics (B. Comm. Econ.) and a post-graduate degree in Financial Services (M.A. Fin. Serv.) from the University of Malta. Mr Gabarretta was employed by the Central Bank of Malta (1979 - 2001) and subsequently by the MFSA (2002 - 2018) and is a former member of the ECB’s Supervisory Board. Mr Gabarretta also served as Chair of the Committee of European Banking Supervisors (CEBS) Task Force on Supervisory Disclosure (TFSD) and provided assistance within the EU Commission’s TAIEX program as an Expert on Banking Provisions of Financial Services Acquis.
Deputy Head, Banking Supervision, MFSA
Anabel Armeni Cauchi
Anabel Armeni Cauchi is a Deputy Head in the MFSA's Banking Supervision Department. She joined the MFSA in January 2019 and is responsible for leading the team which directly supervises LSIs in Malta as well as strategic stakeholder management locally and with the European Central Bank and the European Banking Authority. She is the high level alternate in the EBA Board of Supervisors, as well as a member of the ECB's Senior Management Network and the EBA's Supervisory Risk and Innovation Committee. She joined the MFSA after more than 11 years in the Financial Stability Department of the Central Bank of Malta, where she was involved in the macro-prudential supervision of banks, insurance companies and investment funds. She has represented the Central Bank and the MFSA in various ECB Working Groups and local regulatory forums. She holds a Masters of Science degree in Economics from the University of Malta.
Senior Manager - Banking Supervision, MFSA
Jana Pace Hili
Jana Pace Hili holds the position of a Senior Manager within the MFSA’s Banking Supervision Function. Jana joined the MFSA in 2014 and is now responsible for the direct supervision of Less Significant Institutions in Malta. Throughout her working experience at the MFSA, Jana was also responsible for the supervision of Significant Institutions as well as the authorisation of collective investment schemes and investment firms. She has represented the MFSA in various ECB Working Groups. Jana succeeded in publishing her master’s research in a highly respected journal, following the completion of her Master of Science Degree in Banking and Finance from the University of Malta.
Senior Manager, Banking Supervision, MFSA
Keith Spiteri
Keith Spiteri is a Senior Manager in the MFSA Banking Supervision’s LSI team. He joined the MFSA in January 2017 and is responsible for supervising a portfolio of LSI Banks as well as the LSI’s team specialist on AML and Governance. He has represented the MFSA in various international fora and worked as an onsite supervisor for the ECB. He has previously worked in Banking Resolution at the MFSA and prior to joining the MFSA he worked within the Banking industry.
Senior Analyst - Supervisory ICT Risk and Cybersecurity, MFSA
Matthew Ben Hamed
Matthew Ben Hamed is a Senior Analyst within the Supervisory ICT Risk and Cybersecurity function at the Malta Financial Services Authority, where he has been working for nearly three years. His primary focus is on the workstream handling Threat-Led Penetration Testing initiatives under the DORA Regulation. Matthew holds a Bachelor of Science degree in Business and IT and currently pursuing a Master of Science in Cybersecurity, both from the University of Malta. Additionally, Matthew holds the CompTIA Security+ ce Certification. With a strong academic background and professional qualifications, he actively contribute to strengthening the financial sector's resilience to cyber threats and ensuring compliance with evolving regulations.
Deputy Head, Banking Supervision, MFSA
Nikolaos Grapsas
Nikolaos Grapsas is a Deputy Head within the Baking Supervision function at MFSA. Before joining the Authority in September 2019, he worked for 16 years in large Greek commercial banks, assuming different roles in Risk Management. Currently he is the local coordinator in one of the MFSA/ECB Joint Supervisory Teams and holder of an MSc in Applied Statistics and Operational Research.
Assistant Manager, Financial Crime Compliance, MFSA
Maria Callus
Maria Callus has been working at the Malta Financial Services Authority for the past six years. Maria currently forms part of the onsite team which is responsible for carrying out supervisory examination on behalf of the FIAU. In 2019, she graduated with a Bachelor of Commerce with Honors in Banking and Finance, laying a solid foundation for her career in financial services. During her years at the MFSA, Maria has attained an ICA International Diploma in Anti Money Laundering and ACAMs Certification. Recently, in 2023, Maria earned a Master of Science in Forensic Accounting at the University of Portsmouth, with a dissertation focusing on the EU’s newly publish Anti-Money Laundering Regulation.
Assistant Manager, Financial Crime Compliance, MFSA
Eric Micallef
Eric started working at the Authority through an internship within the Enforcement Function (AML/CFT section) while reading for his Bachelor’s Degree (Hons) in Criminology at the University of Malta. He also possesses an International Diploma in AML from the University of Manchester and is in possession of a Masters in Forensic Accounting at the University of Portsmouth with a dissertation focusing on supervisory independence and the new EU AMLA. He has formed part of the MFSA’s Financial Crime Compliance Function for six years, conducting AML/CFT and Sanctions Compliance Examinations as part of the Function’s Onsite team. At present, as an Assistant Manager, he works as part of the Offsite and Risk Analysis team focusing on training and outreach, policy, strategy, risk analysis, and governance.
