Senior Specialist - Supervision
ADGMUnited Arab Emirates18 hours ago
Full-timeManagement, Manufacturing
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Job Description
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 Department and the Markets Department.
The Supervision Department is responsible for the supervision of banks, insurance companies, money service providers and capital markets. The Supervision Department follows a holistic, proactive risk-based approach to supervision of financial service providers falling under its remit..The Senior Specialist (Funds and Asset Management) role works closely with the Managers and Senior Managers to assist in the implementation of the supervisory framework and in the supervision of a portfolio of relevant financial institutions active in the Fund Management and / or Asset Management sectors , consistently with FSRA’s regulations and risk appetite and international best practices.
Operational responsibilities
The FSRA was established to advocate a progressive financial services environment and uphold the integrity of ADGM. The FSRA’s policies are aligned with internationally recognised standards and ensure that financial entities operate with certainty, market participants thrive in an equal level-playing environment, and the interests of investors are safeguarded.
About The Team
Abu Dhabi Global Market is an award-winning international financial centre strategically located in the capital of the United Arab Emirates.
Established by UAE Federal Decree, ADGM’s jurisdiction extends across the entire 114 hectares of Al Maryah Island.
ADGM's three independent authorities - the Registration Authority (RA), the Financial Services Regulatory Authority (FSRA) and ADGM Courts - together ensure that its business-friendly environment operates in line with international best practices, recognised by major financial centres worldwide.
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 Department and the Markets Department.
The Supervision Department is responsible for the supervision of banks, insurance companies, money service providers and capital markets. The Supervision Department follows a holistic, proactive risk-based approach to supervision of financial service providers falling under its remit..The Senior Specialist (Funds and Asset Management) role works closely with the Managers and Senior Managers to assist in the implementation of the supervisory framework and in the supervision of a portfolio of relevant financial institutions active in the Fund Management and / or Asset Management sectors , consistently with FSRA’s regulations and risk appetite and international best practices.
Operational responsibilities
- S upervision of assigned Financial Services Firms’ compliance with relevant rules and regulations.
- Conduct periodic impact/risk assessments, with support from the Director/Senior Manager/Manager.
- Plan and conduct periodic risk assessment of firms, contribution to the drafting and execution of the supervisory work plan, including the planning and execution of supervisory reviews and drafting and communication of recommendations, in collaboration with line management.
- Ongoing analysis of the governance and control frameworks, conduct of business and the prudential condition of the assigned Fund / Asset Managers, with support from the Director/Senior Manager/Manager.
- Review regulatory submissions made by relevant financial institutions.
- Produce analysis based on the data provided by fund / asset managers.
- Review and assess product notifications / registrations and produce recommendations for line management consideration.
- Assess applications made by Firms and produce recommendations for line management consideration.
- Responsible for/assist in taking prompt action against deficiencies and non-compliances identified including periodic follow-up to ensure timely resolution of deficiencies.
- Build relationships with regulated institutions and other stakeholders, both internal and external to FSRA/ADGM.
- Assist in implementing policies, rules and processes, including appropriate documentation for all assigned institutions.
- Deliver additional tasks that may be delegated from the Director/ Senior Manager / Manager 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.
- Assist in the implementation of the short- and long-term objectives of Supervision Section.
- Assist in developing, enhancing and implementing the framework, policies, rules and procedures for governing and supervising financial institutions.
- 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.
- Bachelor’s Degree
- Min 5-8 years of experience from a similar regulatory background, or industry experience in fund / asset preferably from a risk, compliance or internal audit background.
- Good communications skills both in writing and orally.
- Results-oriented team player.
- Good influencing and negotiation skills.
- Working well in a collaborative environment with a team of diverse professionals.
- Entry level planning, organisation and analytical skills.
- Strong sense of responsibility and impeccable integrity.
- Positive “can-do” attitude, eager to take on additional responsibilities.
- Eager to learn additional skills, both technically and behaviourally.
- Fluent in business English.
- Degree qualification in one of the following disciplines: Finance, Banking, Accounting, Risk Management, Law or related disciplines.
- Relevant professional qualifications
- Proficient in Arabic or other language(s) and understanding of the Arabic Culture
The FSRA was established to advocate a progressive financial services environment and uphold the integrity of ADGM. The FSRA’s policies are aligned with internationally recognised standards and ensure that financial entities operate with certainty, market participants thrive in an equal level-playing environment, and the interests of investors are safeguarded.
About The Team
Abu Dhabi Global Market is an award-winning international financial centre strategically located in the capital of the United Arab Emirates.
Established by UAE Federal Decree, ADGM’s jurisdiction extends across the entire 114 hectares of Al Maryah Island.
ADGM's three independent authorities - the Registration Authority (RA), the Financial Services Regulatory Authority (FSRA) and ADGM Courts - together ensure that its business-friendly environment operates in line with international best practices, recognised by major financial centres worldwide.
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