Catherine Galea – Head, Banking Supervision

Catherine Galea is currently the Head of Banking Supervision Department within the MFSA. The Banking Supervision Department is responsible for the prudential onsite and offsite supervision of both credit and financial institutions. The ultimate objective is to ensure that these licensed entities abide with all regulations and licence conditions, and have the necessary corporate governance and control structures in place.

Ms Galea is also an active member of the Supervisory Board of the European Central Bank, as part of the Single Supervisory Mechanism (SSM). This Board meets regularly to discuss, plan and carry out the ECB’s supervisory tasks, and to decide on any regulatory issues pertaining to credit institutions within the Eurozone. Such decisions are then passed on to the ECB Governing Council under a non-objection procedure.

Catherine Galea commenced her career with the Central Bank of Malta before joining the MFSA in 2002 in order to pursue her career within Banking Supervision and later was in charge of setting up the banking section within the Authorisation Department. Throughout her career, Ms Galea was also responsible for transposing and implementing various pieces of EU legislation in the field of banking supervision and has led various supervisory teams and working groups within the Authority. She actively participated and represented the MFSA in various international fora.

Ms Galea is an Associate of the Chartered Institute of Bankers (ACIB) and holds an MSc degree in Finance from the University of Leicester (UK). Furthermore, she is a frequent lecturer regarding various regulatory issues, including the Capital Requirements Regulation/Directive and Risk Management.