“The management of cyber risk in banks is much more than an IT [information technology] discussion. We know from experience that the five most efficient cyber defenders are basic to any risk management solution. They are anticipation, education, detection, reaction and resilience,” Mr Cassar said.

Following Mr Cassar’s opening speech, Daniela Bagnaschi, Head of Data Management and Business Intelligence at the Malta Financial Services Authority (MFSA), drew ties between the MFSA’s vision and plans for risk mitigation in the cyberspace and elaborated on the crucial aspects of the triad comprising People, Process and Technology, as well as its impact on the cyber resilience framework of regulated entities.

“This event was an important one as it emphasised the need for wider stakeholder involvement in raising awareness on the various cyber risks in the banking industry, but also the financial services sector in general. Likewise, the involvement of all stakeholders is required in the mitigation of these ever-growing and evolving risks,” said Karol Gabarretta, Secretary-General of the MBA.

The association tagged the event as “successful” and one that “achieved its aims”. More than 100 participants attended the conference.

The post MBA calls for increased cybercrime awareness first appeared on The Malta Business Weekly.

“I have worked closely with Rita in the past, and I have full confidence in her capacity to enhance and support the work carried out by the association in these increasingly challenging times for the banking industry,” said MBA Secretary-General Karol Gabarretta.

Ms Sammut Buontempo holds an Honours and a Masters degree, both in accountancy, as well as she is a Certified Public Accountant and Fellow of the Malta Institute of Accountants (MIA). Beyond having worked in the banking industry, she also has experience in the field of property management where she worked as a finance manager.

After joining Mid-Med Bank Ltd in 1984, she worked in regulatory, finance, credit and retail banking. In 1999 — the same year when HSBC bought 70.03% of Mid-Med Bank in June and changed the name to HSBC Bank Malta — Ms Sammut Buontempo became a senior manager with HSBC Bank Malta Plc, specialising chiefly in regulatory and finance, until 2014 when she took early retirement from the bank.

In 1998, Ms Sammut Buontempo headed the technical delegation, representing Mid-Med Bank Plc, on the Malta Financial Services Authority (MFSA) Technical Working Group, which implemented the Capital Requirements Directive BD08. From 2005-2006 she headed the technical delegation representing HSBC Bank Malta Plc on the Malta Financial Services Authority (MFSA) Technical Working Group, which implemented the Basel II regime (EU Directive – Recast 2000/12).

Subsequent to her banking career, Ms Sammut Buontempo also worked in the field of banking advisory services in senior managerial positions with KPMG Malta and Deloitte Malta, respectively.

The post MBA appoints new Assistant Secretary-General first appeared on The Malta Business Weekly.