Central Bank of Malta Internships Scheme

1 - Rationale of the Scheme

2 - Eligibility

3 - The application process

4 - Internship procedure

5 - Rights and duties of interns

6 - Financial matters

7 - General

8 - Closing date

Application Form

1 - Rationale of the Scheme

The scheme, which is administered by the Central Bank of Malta (the Bank), is addressed to young university graduates in specific areas of specialisation who would like to obtain work experience in a small central bank within the Eurosystem.

The aims of the scheme are:
• to provide young university graduates with a first-hand experience of the workings of the Bank; and
• to enable them to practice their research and analytical skills by working on research projects identified by the Bank.

The Bank will benefit through:
• gaining the input of young graduates with recent academic experience;
• creating a pool of young people with first-hand experience of the responsibilities of the Bank.

2 - Eligibility

2.1. Nationality
Interns must be nationals of the European Economic Area. They must, however, be in possession of a work permit issued by the Employment and Training Corporation prior the engagement.

2.2. Academic qualifications
The minimum academic qualification for qualification under the scheme is an honours degree from a reputable university or other tertiary learning institution in the following areas of specialisation: economics; econometrics; statistics; finance; mathematics; IT programming or any other areas as may be indicated by the Bank from time to time. The degree classification has to be either First Class Honours or Upper Second Class Honours. The Bank has the right to change these minimum qualifications. Candidates must provide an official transcript and degree certificate with their application. Degrees awarded by foreign universities and other tertiary learning institutions must be accompanied by official transcripts and degree supplements. Information and guidance regarding foreign degrees may be obtained from the:

Malta Qualifications Recognition Information Centre (MQRIC)

Applicants are to submit all information regarding the evaluation of their qualification. It is the responsibility of the applicants, in possession of qualifications awarded by foreign universities/tertiary learning institutions, to produce a recognition statement on comparability of qualifications issued by the MQRIC, which statement should be attached to the application.

2.3. Languages
Candidates should have an excellent command of English, both spoken and written, with good drafting abilities. Working knowledge of other Community languages would be considered an asset.

Knowledge of the languages declared on the application form, other than the mother tongue, should be supported by the appropriate evidence.

2.4. Conduct
Candidates should submit an original certificate of criminal records issued by the competent national authority of the respective country or an equivalent document stating that the applicant had never been convicted of any crime. The Central Bank of Malta reserves the right to make its own security checks.

2.5. References
Candidates must provide the Bank with the names and addresses of two referees and give their consent to the Central Bank of Malta to obtain the relevant information from the referees.

All supporting documentation requires authentication by the personnel department of the national central bank of the country of origin or the Maltese embassy of the applicant's country of residence. All applications will be treated with strict confidentiality and all information in the application form will be treated in accordance with the Data Protection Act (Cap 440).

2.6. Wrongful declaration of facts
The Bank reserves the right to terminate the internship if at any time it becomes apparent that the intern knowingly made wrongful declarations, or provided false statements or papers at the moment of application or during the internship period.

2.7. Amendments to eligibility criteria
The Bank reserves the right to amend the eligibility criteria.

3 - The application process

3.1. Submission of application
Applications are to be made in accordance with the procedures established by the Bank from time to time, as published on the Bank’s Website www.centralbankmalta.org.

Applications submitted after the closing date will be automatically rejected. Applicants must provide all the relevant documents in support of their electronic application within 14 calendar days from electronic submission. No additional information will be accepted after receipt of these documents.

3.2. Pre-selection procedure
The main objective of the procedure conducted by a pre-selection panel is to verify the information submitted by the candidates in the application form and to allocate points on the basis of pre-established criteria before the start of the opening of the application period. The decision of the pre-selection panel is final and will be submitted to the Selection Panel.

3.3. Selection process
Selection will be based upon the outcome of an interview conducted by a Selection Panel, which may also include a written assessment.

The Selection Panel determines the number of internships to be awarded for each period. The selection criteria will also include: the evaluations of the pre-selection panel; the Bank's absorption capacity; the budget; any perceived conflict of interest; the areas of specialisation required by the Bank at the time.

3.4. Withdrawn/rejected/unsuccessful applications
At any stage of the application process, applicants may withdraw their application by informing the Bank’s Human Resources Office in writing. In such cases, applicants will be excluded from any further stage of the selection process.

Rejected, unsuccessful or withdrawn applications together with their supporting documentation will be destroyed after six months from the final decision taken by the Selection Panel, unless applicant files a request for the return of the documents within one week from the Bank's communication of the decision.

3.5. Fresh applications
Applicants whose application may have been rejected, or who may have been unsuccessful or who may have withdrawn their application under previous intakes, may re-apply for a subsequent internship period through the submission of a fresh application, together with all supporting documents.

4 - Internship procedure

Applicants can only be offered a single contract for a given internship period. Applicants who decline a contract offer will be excluded from the on-going procedure. They may re-apply for a subsequent internship period by submitting a fresh application, together with all supporting documents as detailed above.

Successful applicants for the internship should provide any forms and certificates required by the Bank at the time of their recruitment. They are responsible for making sure that they have the correct visa, where applicable, and that they obtain all the documentation required by the Maltese authorities

5 - Rights and duties of interns

5.1. Duration of internship

5.1.1. Basic
The internship shall be for a period of ten months. Interns will qualify for the associated benefits subject to having completed at least five months of the programme.

5.1.2. The internship
Each internship period begins with an obligatory two-day induction programme. Interns are thereafter attached to the designated offices.

Interns will be placed under the responsibility of a mentor who may be responsible for only one intern per internship period. The mentor will be expected to guide and closely follow the intern's progress during his/her internship. The mentor must immediately notify the Bank’s Human Resources Office of any significant incidents occurring during the internship (in particular in relation to professional incompetence, absences, excessive sicknesses, accidents, bad behaviour/conduct, or interruption of the internship) which comes to his/her attention.

Interns must comply with the Bank’s policies, procedures and other internal rules governing the permanent employees of the Bank. A copy of these rules and internal procedures will be made available to all interns under the scheme. The hours of work are the same as for regular Bank employees. Interns are allowed to attend meetings on subjects of interest to their work (unless these meetings are restricted), receive documentation and participate in the work of the office to which they are attached at a level corresponding to their educational and working background.

5.1.3. Interruption/early termination
With proper justification, the Bank may authorise the interruption or early termination of an internship. The remuneration will be suspended during the interrupted period.

If the intern is allowed to return to complete the unfinished part of the internship, he/she may only continue up to the end of the original internship period. No extension is possible.

If an intern has been granted permission to terminate his/her internship earlier than the date specified in the contract, the remuneration will be adjusted accordingly.

5.1.4. Future employment
Admission to an internship does not confer on the intern the status of an official of the Bank and interns do not benefit from the same benefits enjoyed by permanent employees of the Bank. Although admission to an internship does not entail any right or priority with regard to a full-time appointment in the services of the Bank, interns who successfully complete the full ten-month programme* may be offered employment by the Bank when circumstances arise, subject to the issue of the necessary employment permits by the local competent authority. A formal application has to be completed and submitted (by interns who have completed the full internship programme) to the Bank whenever a vacancy is published on the Bank’s website.

*(Successful completion of the internship programme entails the completion of the full ten-month programme without any interruption and with an above average performance rating.)

5.1.5. Insufficient performance
The Bank reserves the right to terminate the internship without any notice if the level of the intern’s performance is insufficient and below expectations. The intern should be given at least one verbal and one written warning about his/her lack of performance before the Bank could terminate the internship.

5.2. Leave of absence

5.2.1. Holidays
Interns are bound by the same hours of work and benefit from the same official public holidays as officials of the Bank.

Interns are entitled to 2 days' vacation leave per month. This entitlement is accrued pro rata to the months worked counted from the first day of the month. Compensation for leave not taken will not be paid. Days taken for participation in any competition, exam or university work, etc. are to be deducted from this entitlement.

5.2.2. Absence in case of sickness
In case of sickness, interns must immediately notify their mentors and produce a medical certificate, indicating the probable length of absence. The medical certificate must be forwarded to Human Resources Office. An intern who is absent because of illness may be subject to medical checks by the Bank. A maximum of 15 days’ paid sick leave is allowed for the full ten month internship on a pro-rata basis.

No other leave of absence is allowed.

5.3. Confidentiality

5.3.1. General
Interns must exercise the greatest discretion regarding information that comes to their knowledge during the course of their internship. They must not, in any manner whatsoever, disclose to any unauthorised person any document or information not already made public. They will continue to be bound by this obligation after the end of their internship. The Bank reserves its legal right to terminate the internship and to seek redress in terms of law. A secrecy declaration is signed by all programme participants.

Interns must not have any professional connections with third parties which might be incompatible with their internship. Furthermore, they are not permitted to exercise any other gainful employment during the period of the internship. Any conflict of interest arising during the assignment should be immediately reported in writing by the intern to his/her mentor.

5.3.2. Contacts with the press
Interns must respect the same rules for contacts with the press as other Bank employees and follow the instructions provided. The Bank reserves the right to terminate the internship and to pursue any legal proceedings against person/s who do not respect this obligation.

5.3.3. Publications
Interns must not, either alone or with others, publish or cause to be published any matter dealing with the work of the Bank without the written permission of the Bank.