As part of a joint initiative by the Maltese Financial Services Authority (MFSA) and the Malta International Training Company (MITC), LSE Consulting were approached to develop and advise on the implementation of a year-long diploma programme on financial services operations and compliance. The programme is intended to facilitate the take up and improvement of careers within the financial sector, and was designed to facilitate the recruitment of professionals into the sector from related disciplines, as well as to provide continuous professional development skills for those already working in it, or returning to it after a substantial period of absence.
Approach and methodology
The rationale underlying the programme was to introduce a broad technical and experience-based approach to current operational- and compliance-related topics, which are relevant to the financial services sector both on a local and international level. Focusing on the current reality of Malta as an EU jurisdiction operating and competing beyond national boundaries, senior LSE academics were recruited to develop a two-pronged approach to the programme, combining a local, classroom-based component, and online international component, designed and facilitated by LSE experts. Using a wealth of technological applications for tuition and research purposes, the international component was structured to provide an introduction to a comprehensive conceptual analysis framework to justify the actual regulatory regimes discussed via online lectures, case studies, and real-time discussion with LSE faculty to provide students with a solid understanding of how financial markets and systems work, both internationally and in the domestic marketplace.
Solution and benefits
Beyond the core scope of the project, LSE Consulting worked closely with the MFSA and MITC to facilitate the programme's launch in Malta for more than 60 participants, attended by the Chairman of the MFSA's Education Consultative Council, Director of Human Resources at the MFSA, and the MITC's Director of Studies as well as senior LSE faculty. Beyond its immediate benefits to these participants, the programme further enables the MFSA to guarantee the level of knowledge and competency in the Maltese financial services industry continues efficiently, competitively and professionally as it continues to grow; while also providing them with another significant means of assessing the competence levels of licence holders and their employees.