Actaco Financial is a Malta based advisory that assists licensed financial services companies established in Malta, with their Governance, Risk Management, AML and Operational requirements. Services offered include Non-Executive Director, MLRO and Risk Manager.
The advisory was set up by Alexia Farrugia in 2016 on the back of her many years of experience in financial services which allowed her to become an MFSA approved person for such roles. In line with the ethos of providing a bespoke, high quality service, the Actaco team includes qualified and dedicated people that provide ongoing support to all of their clients with the personal attention that each client expects and deserves.
The team is further supported by the Actaco Advisory Board, a cloud of Maltese and European experts in various specific areas that can be relied upon to assist in situations which merit further expertise, or where local knowledge is insufficient. The Advisory Board is an integral part of Actaco’s services.
The Actaco team, can assist clients together in both the pre-licensing and post- licensing stage of an application for a financial services license. Working alongside the client’s chosen legal counsel or Company Service Provider, Actaco’s service initially focuses on the setting up and implementation of the policies, procedures and operational processes that are mandatory for firms licensed in financial services. Once the license is approved by the MFSA, the specific service is provided to meet the license holder’s particular regulatory and business requirements, working closely with the decision makers within the company.
The four business areas that Actaco focuses on are interdependent. AML legislation has strongly shifted towards a risk-based approach, with the risk management service being key to AML issues. Securitisation is an important, and innovative risk management tool. Non-Executive Directorship posts provide increased knowledge, awareness and experience and sharpen the risk acumen across all service areas.
The main objective of service in all areas is a client focused approach that is specifically tailor made to suit the individual clients’ needs and legal and requirements. This is done by employing appropriate resources; appropriate systems; in depth business knowledge and hands on experience; external expertise where the situation requires; ongoing communication with license holder and on site presence of the MLRO or risk manager.
The strong point of the firm is the focus on getting things done efficiently, by an experienced and seasoned professional with the support of a highly skilled team, without any sacrifice to quality or attention to detail.
By having Actaco’s support, clients benefit from the high level of expertise and in depth experience of Actaco’s director, Alexia Farrugia, the assured continuity and consistency of service provided by the support of the Actaco team, and the added value in having a wider view of the environment in which they operate.
Actaco Financial was founded by Alexia Farrugia in 2016 after having spent almost 20 years working at managerial levels in financial services firms and other businesses.
Alexia initially focused on investments services, where she has lead teams in client- facing roles and operational functions, assisting wealth management and institutional clients and oversing the implementation of a number of important regulatory milestones. She has been an authorised trader on the Malta Stock Exchange.
In 2013 Alexia successfully obtained, with distinction, her Masters in Finance at Trinity College, Dublin, with specialisation in Risk Management. She has since held executive and non-executive directorship posts on the board of a number of regulated financial services companies such as funds, investment services companies, and other non-regulated companies.
Alexia Farrugia is approved by the MFSA in the roles of Risk Manager and Money Laundering Reporting Officer (MLRO). She has helped a number of institutions to set up their risk management divisions and banking infrastructures in an advisory capacity.
Ms. Farrugia has lectured Risk Management at the University of Malta where she continues to lecture Securitisation.
Alexia Farrugia takes on appointments, in a personal capacity, as risk manager and/or MLRO to Financial Institutions and all categories of Investment services firms licensed in Malta. She is supported by the team members at Actaco Financial and Actaco’s Advisory Board.
Alexia is a Member of the Malta Association of Risk Management (MARM); the Institute of Financial Services Practitioners (IFSP); Finance Malta; and the IoD. She is currently pursuing the Chartered Director Programme, a professional qualification for directors coordinated by the UK chapter of the Institute of Directors.
Mireille is a B.Comm (Hons) graduate from the University of Malta, where she specialised in Banking and Finance. Her eagerness for involvement in the financial services industry at an early stage during her studies led to an internship opportunity with HSBC Malta. This experience with one of the largest banks in the world gave Mireille as a solid base for her current role within Actaco Financial.
At Actaco, Mireille focuses on Risk Management.
Her insatiable curiosity and thirst for knowledge are the main driving forces behind her motivation. These attributes and her insatiable thirst for knowledge are valuable qualities that ensure Mireille is and remains well-equipped to provide a high level of service to Actaco’s clients.
Mireille supports Actaco’s director in Risk Management and AML assignments where she is involved both on a day to day basis as well as on larger, more specific projects.
Such collaborative approach paired with Mireille’s analytical abilities and keen attention to detail is a perfect fit to the firm’s ethos of providing a committed service of high standards to each and every one of the firm’s clients.
An empathetic individual who is a firm believer in equality, human rights and animal welfare, Mireille stands firm in her beliefs. She uses the same determination in her daily work ensure the best service for Actaco’s clients.
Natalia has a Diploma in Engineering and a Bachelors in Multilingual Communication. She has many years of technical experience within a broad range of industries and has worked in several countries both in Europe and in the Commonwealth of Independent States.
Through her international engagements she has acquired a very wide multicultural background and a thorough understanding of business in different countries. Natalia’s is exceptional tat adapting to changing circumstances and uses this knowledge in the analysis of different situations. This is a very valuable contribution and considerable element that adds to the diversity to the firm.
Natalia specializes in AML issues and uses her multicultural background and the knowledge acquired from many businesses to gain a thorough understanding on issues in relation to AML and how best to implement the regulatory requirements in different organisations with who she engages in her work at Actaco.
She is very detailed and highly conscious of the need to achieve the right balance in the successful fulfillment of regulatory requirements and day-to-day business processes. As an AML specialist, Natalia regularly attends training on AML issues and conducts research interesting AML topics so as to keep the Actaco team updated with the latest AML developments.
Nikita is a full-time student reading for her Bachelors of Commerce at the University of Malta, and a part-time risk management trainee with the Actaco team.
Nikita’s supports the Actaco team with the day-to-day operations of the firm. This allows her to be involved in a wide number of tasks often including larger or more complex projects. Her calm and meticulous disposition allows her to successfully deal with complex aspects of certain projects and have a very valid contribute to the team’s collective effort.
Nikita’s opinions are often sought by all members of the team since her knowledge and character means that she often provides a fresh or alternate perspective on certain issues thanks to her meticulous research and probably life on campus.