The FSRA is responsible for the regulation of Financial Services providers at Abu Dhabi Global Market and for the supervision of regulated activities.The FSRA is responsible for the regulation of Financial Services providers in the ADGM and for the supervision of regulated activities.
The Supervision Division consists of the Supervision Section and the FSRA Markets Section.
The Senior Manager Supervision is a role within the Supervision Section.
The Supervision Section of FSRA is responsible for monitoring the safety and soundness of capital markets intermediaries, banks, insurers and money service providers. The Section undertakes impact/risk assessments of individual financial institutions which will drive the frequency and intensity of the supervisory approach. The Section adopts holistic supervision underpinned by a risk-based approach.
The Senior Manager is responsible, in close liaison with the Supervision Director, for the supervision of a portfolio of financial institutions in line with FSRA’s regulations, FSRA’s risk appetite and international best practices. The Senior Manager is expected to contribute towards the continued development of FSRA supervisory approach following international regulatory developments as well as the continued enhancement of supervisory procedures and regulatory framework, rules and policy initiatives. The Senior Manager will be expected to be a point of supervisory expertise and reference to the rest of the team across a variety of sectors. The role works closely with the Director and other peers within the Supervision Division.
Strategic responsibilities
Implement the short term and long term objectives for the Supervision section.
Assist in developing, enhancing and implementing the framework, policies, rules and procedures for governing and supervising financial institutions.
Assist in executing strategic direction.
Operational responsibilities
Responsible for supervising financial institutions’ compliance with relevant rules and regulations and developing a risk-based supervisory plan, using all relevant information and the FSRA Risk/Impact Assessment methodology.
Make appropriate use of supervisory tools such as reviews, third parties reviews, information requests etc.
Complete the periodic risk assessment of firms, the drafting and execution of the supervisory work plan, including the planning and executing of supervisory reviews and drafting and communication of recommendations, in liaison with the Director.
Conduct ongoing analysis of prudential condition of financial institutions and their conduct of business as well as financial crime prevention activities.
Conduct periodic implementation controls/progress reports in areas where deficiencies have been identified.
Build and manage relationships with senior stakeholders among market participants and other relevant ADGM staff.
Responsible for taking prompt action against deficiencies and non-compliances identified.
Deliver additional tasks that may be delegated from the Director (e.g. ad-hoc projects, spot reviews, investigation, etc…).
Adherence to all internal policies, procedures, standards and behaviours.
Assist in implementing policies, rules and processes, including appropriate documentation for all assigned institutions.
Deliver additional tasks that may be delegated from the SED / Executive Director / Director – Supervision.
Liaise with other internal stakeholders such as Authorisation and/or other FSRA groups, as appropriate.
Participate and deliver on projects that may be allocated thereto.
Act as a point of supervisory expertise and reference to the rest of the team across a variety of sectors.
and further develop the risk-based approach
Managerial
Creates an environment where team members consistently drive to improve performance.
Where applicable, manages team with full accountability for achieving overall agreed objectives.
Manages by effectively empowering team members.
Takes responsibility for development of staff working with them / reporting to them as may be applicable.
Reviews performance of team and addresses performance issues quickly through clear decisions as may be applicable.
Information Security related
Understand, adopt, adhere and practice responsibilities or controls as per ADGM Information Security policy and as per best practices explained in the induction and awareness sessions.
Maintain confidentiality, Integrity and availability of the ADGM Information at all times i.e. within as well as outside ADGM.
Education
Bachelor’s / Master’s Degree
Work Experience
Min 10-12 years of experience in financial supervision and /or Industry experience in Financial Services compliance / risk management / internal audit, preferably in Asset and Wealth Management, Funds and / or Brokerage sectors with exposure to complex products such as Contracts for Differences and / or Virtual Assets.
Experience in planning and executing risk assessments of Financial Services firms including both desk based and onsite.
Considerable knowledge of conduct of business and asset / fund management regulations and international market practices.
Considerable knowledge of AML / CFT and TFS regulation.
Experience of the assessment of risks to identify trends and future regulatory requirements
Expertise in the implementation of regulatory policies.
Well-developed communications skills both in writing and orally.
Strong internal and external stakeholder management skills
Good influencing and negotiation skills.
Demonstrate strong teamwork, working collaboratively with a team of diverse professionals.
Demonstrate planning, organisation and analytical skills
Demonstrate a strong sense of responsibility and impeccable integrity.
Fluent in business English.
Desirable:
Experience in supervising and / or risk assessment of banks and/or insurance companies.
Professionally qualified in one of the following disciplines: Finance, Banking and Accounting, Risk Management, Law or related disciplines.
Knowledge of international finance and corporate laws and regulations.
Proficient in Arabic or other language(s) and understanding of the Arabic culture.