Friday, 2nd October 2020
Webinar
This event has already passed and registrations are closed.
Overview
This is an awareness-raising Webinar for the financial services sector on MONEYVAL specific action points including understanding the risks of being an international financial centre, an update on financial sector risks, and giving institutions visibility of our delivery on MONEYVAL. Institutions need to find the right balance between conducting de-risking exercises whilst continuing to fulfill their obligations when providing services to their customers. As part of the Authority’s commitment to assist credit and financial institutions in addressing ML/FT risks, this Webinar will be an opportunity to discuss the challenges as well as the opportunities in mitigating such risks.
Agenda
| 0930hrs | Opening Statement
David Eacott - Head of Banking Supervision, MFSA |
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| 0940hrs | Raising the Bar in Compliance Environment – What are the MFSA expectations
Emily Benson – Head of Conduct Supervision, MFSA |
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| 1000hrs | The Central Bank Account Registry – An Overview
Clara Borg Bonaci - Manager, Legal Affairs, FIAU |
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| 1020hrs | Suspicious Transaction Reporting
Chantiane Said - Intelligence Analysis Manager, FIAU |
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| 1040hrs | Coffee Break | |
| 1050hrs | Panel Discussion: Funding of Terrorism Risk inherent to an International Financial Centre
Moderator: Karol Gabarretta – Secretary General, MBA Cynthia Borg - Head of Financial Crime Compliance, APS Simon Vaughan Johnson - Chief Executive Officer, HSBC |
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| 1130hrs | Question Time | |
| 1145hrs | Closing Statement
Emily Benson – Head of Conduct Supervision, MFSA |
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Speakers
Head, Conduct Supervision, MFSA
Emily Benson
Emily Benson was appointed Head of Conduct Supervision in March 2020. Emily is a UK regulatory lawyer with over 30 years of experience in the Financial Services sector. After qualifying as a solicitor in private practice, her career has included senior positions with the UK’s financial services regulator, then the FSA, and in-house with a high profile bank and a leading insurer. She has also worked for private firms and with a global consultancy firm. Her clients have been from all retail sectors and she is highly experienced in all forms of regulatory investigations and reviews, including leading reviews commissioned by the FCA under its skilled persons regime. Recently as Department Head in a leading UK law firm, she has advised on all types of regulatory processes including authorisations, compliance and corporate governance requirements for investment firms, intermediaries and banks and has led complex investigations and remediation projects. In addition to leading the regulator’s cross sectoral supervision of conduct, Emily will be continuing the regulator’s supervision of trustees and corporate service providers.
Head, Banking Supervision, MFSA
David Eacott
David Eacott is Head of Banking Supervision, responsible for the oversight of credit and financial institutions operating in and from Malta. David joined the MFSA in February 2020 after 22 years at the Bank of England including the UK’s Financial Services Authority. David was most recently responsible for the successful implementation of the UK’s ring fencing regime. During that time, he also helped the Resolution function with its implementation of the UK’s Resolvability Assessment Framework and led the Bank of England’s effort to improve the quality of internal audit functions within financial firms. During his supervisory career, David ran a number of teams responsible for oversight of large and medium sized banks, building societies and asset management firms. He was also a UK policy expert on the CRD and worked at the UK’s Permanent Representation in Brussels during the last UK EU Presidency negotiating its final legislative stages. David studied Modern European Studies at Loughborough University prior to joining the Bank of England.
Intelligence Analysis Manager, FIAU
Chantiane Said
Chantiane Said manages the Processing and Prioritisation team within the FIAU's Intelligence Analysis section, and is responsible for managing the flow of incoming STRs and their preliminary analysis, overseeing the team’s effectiveness and efficiency, and providing assistance during ad hoc projects. Having a Certified Public Accountant warrant and a Practising Certificate in Auditing as an auditor with one of the big four firms, Ms Said joined the Unit in 2017 as an Intelligence Analyst. She graduated in 2014 with a Master in Accountancy from the University of Malta and in 2019 obtained additional certification as an Anti-Money Laundering Specialist from the Association of Certified Anti-Money Laundering Specialists (ACAMS).
Manager, Legal Affairs, FIAU
Clara Borg Bonaci
Dr. Clara Borg Bonaci is a manager within the Legal Affairs Section of the FIAU. Clara oversees the work of the new Guidance & Outreach section, by identifying areas for improvement in the implementation of AML/CFT obligations, and addressing these needs through concrete action plans comprising the drafting of guidance notes and sector specific procedures, and the creation of training plans and other events. Clara regularly participates in outreach efforts among both the private and public sector in the area of AML/CFT, representing the FIAU on panel discussions and delivering talks and presentations on the topic. Clara studied Law at the University of Malta and joined the FIAU in 2017 after spending a few years working with a local law firm.
Secretary General, MBA
Karol Gabarretta
Karol Gabarretta is the Secretary General of the Malta Bankers’ Association. Mr Gabarretta was previously employed by the Malta Financial Services Authority (MFSA) as Director, Banking Supervision. Mr Gabarretta is also a former member of the ECB’s Supervisory Board. Prior to joining the MFSA in 2002, Karol had been employed by the Central Bank of Malta for a period of 23 years. Karol holds a Bachelor’s degree in Economics and a post-graduate degree in Financial Services from the University of Malta. During 2009, Karol was appointed as Chair of the CEBS’ Task Force on Supervisory Disclosure (TFSD). He has also provided assistance within the EU Commission’s TAIEX program as an Expert on Banking Provisions of Financial Services acquis. Karol currently represents the Association on FinanceMalta’s Board of Governors and is a member of the Management Committee of the Depositor and Investor Compensation Schemes.
Head of Financial Crime Compliance, APS
Cynthia Borg
Cynthia Borg is a certified financial crime compliance professional, with a 28-year career in Banking. She spent 26 years with HSBC Bank Malta plc where she held various positions including that of an internal auditor and in AML headship positions. In 2013 she was appointed as the Bank’s Financial Crime Compliance Lead for the Retail Banking & Wealth Management Services. Subsequently Ms Borg was assigned a more focused role as the Bank’s Head of Global Standards and AML operations. In 2016 she was appointed Head of Compliance and MLRO for MeDirect Bank Plc and two years later she moved to Diligex, an AML/CFT specialised firm, as Head of Compliance. Cynthia Borg is now the Head of Financial Crime Compliance and Group Money Laundering Reporting Officer for APS Bank plc and ReAPS Asset Management, a subsidiary of the Bank. A position she has held for the past eleven months.
Chief Executive Officer, HSBC
Simon Vaughan Johnson
Simon Vaughan Johnson joined HSBC in 1986 and was appointed Chief Executive Officer HSBC Bank Malta p.l.c in April 2020. He has broad and deep international banking experience as a Country Head, also working across Commercial Banking, Wealth and Personal Banking, Global Banking and Global Markets. Additionally, Simon has worked in Financial Crime Risk, Trade Services, Payments and Cash Management, and e-Commerce. His postings span 9 countries and 4 regions. Prior to his current appointment, Simon was Head of the Remediation Management Office – HSBC France. He was responsible for designing, building and maintaining an integrated Financial Crime Risk Remediation Program for HSBC France. Prior to this posting, Simon was the Chief Executive Officer for HSBC Kuwait. Simon graduated with Honours from the University of Stirling, majoring in English and French. He is an Associate of the Chartered Institute of Bankers and a Member of the Chartered Institute of Linguists. He is a Certified Anti-Money Laundering Specialist.
