The growth of the financial services sector is fuelled by the country’s credentials in reputation and trust – and one area which contributes to these qualities is a risk-based approach. Last year, the Malta Financial Services Authority (MFSA) published two documents, outlining its risk culture and appetite, as well as its risk-based approach to supervision. These statements reflect a drive to position risk management at the heart of the MFSA’s supervisory strategy, resources and processes, clearly defining the MFSA’s risk approach and acceptable risk thresholds. “The MFSA’s risk appetite sets the tone for its decisions across the organisation, as it remains continuously vigilant of the risks that lie ahead or emerge over time and takes pro-active and timely measures to mitigate them, also in the interest of its end user: the consumer.” said MFSA’s Head of Risk Franco Borg.