21 Oct
Abu Dhabi Islamic Bank PJSC
United Arab Emirates
ROLE PURPOSE:
The Senior Regulatory Affairs Officer is responsible for supporting Head of Regulatory Affairs in the implementation and compliance with all regulations impacting ADIB including those related to Business Conduct but also in providing guidance on all regulatory compliance related queries from ADIB Business and Support Units.
The Senior Regulatory Affairs Officer is also responsible for the maintenance of Ethical Conduct framework and the supervision of the Workflow agreed between Regulatory Affairs and Compliance Operations Center (CoC).
Regulatory Obligations Management & Advisory
- Ensure timely dissemination to Business & Support function of all applicable notices/circulars and the gap assessment template submitted by the Compliance Operations Center (CoC) pertaining to all regulations issued by the relevant authorities
- Conduct Gap Assessment review and Support in the quality review of the Regulatory Obligations Register
- Maintain comprehensive Regulatory Obligations Register of all regulations the Bank is exposed to across regulators and jurisdictions and monitor process for conduct regulatory gap assessments
- Support in the tracking of daily and weekly targets set up for the CoC and monitor adherence of the assigned targets
- Work closely with business and act as point of contact with the impacted units within ADIB to ensure completion of the submitted gap assessment and provide any necessary inputs on queries
- Ensure the dissemination of the operational notices issued by regulatory authorities to the relevant Business and Control Units and ensure competition and submission of the required information to regulatory authorities
Policies and Procedures
- Support development and update of Regulatory Affairs and Ethical Conduct related policies, procedures, and processes
- Be responsible for the continuous monitoring and update of Regulatory Affairs and Ethical Conduct Related policies by addressing regular update to Head of Regulatory Affairs on their renewal status and market/ regulatory evolution
Regulatory Interaction
- Facilitate the submission of the regulatory submission of Business and Support units
- Support the development of the Regulatory Affairs framework based on best practices and in line with applicable regulations
- Track progress on queries/issues received from regulators and ensure appropriate and timely allocation to respective Business and Support units
- Support in the remediation of gaps identified in RCSA,
internal/external audits, or supervisory audits related to Regulatory Affairs.
Regulatory Guidance to Business Units
- Keep abreast of related laws, regulations, and best practices and assess its impact on ADIB.
- Act as an SME with the Business units to provide technical insights on complex regulations and build credibility based on an understanding of their challenges related to products, customers, and transactions.
- Support the Business and Control units to adhere to Group Compliance policies, procedures, and processes.
- Provide advice to the Business units on the new product review process by assessing compliance/regulatory requirements and the impact of proposed new products and services on ADIB.
- Provide guidance and approval on the business-related Policies submitted to Regulatory Affairs
- Review and ensure approval of New products and Product Programs submitted to Head Of Regulatory Affairs
- Review and approve financial promotions (campaigns), business / control function policies.
Ethical Conduct framework management
- Support in the implementation and maintenance of ADIB Group Conduct Risk Framework
- Ensure to provide guidance and clarification to Business and Control Units in relation with all Ethical Policies through the Dedicated channels at bank level
- Be responsible for the application and management of the ethical policies and procedures along with the maintenance of the applicable registers as per Outside Business Interest, Conflict of Interest,
Gift & Entertainment, Market Abuse and Insider Trading and Personal Account Dealing procedures.
MIS/Reporting:
- Ensure the update of all the KRIs/KPIs related to Regulatory Affairs units and their inclusion in the relevant reports
- Support in the Preparation MIS reports for internal regulatory affairs reporting, or any other relevant committee
- Support the preparation and maintenance of ADIB regulatory returns/reporting and monitor adherence to defined due dates
- Ensure the continuous monitoring of the Regulatory Reporting suite applicable to Regulatory Affairs and support their template design if not provided by regulatory authorities
- Ensure reporting of material non-compliances/breaches related to Regulatory Affairs department in line with the prevailing policies on a timely manner
- Coordinate and finalize any ad-hoc gap assessment of the FATCA and CRS policies and procedures against updated regulatory requirement.
- Support timely submission of the FATCA and CRS reporting expected by CBUAE and SCA on a yearly basis.
Staff Ethical Behavior
- Demonstrate strong adherence to ADIB Conduct Risk Pillars and Code of Ethics in terms of transparency, integrity, confidentiality, respect and collaborative workplace
- Demonstrate strong adherence to ADIB ethical conduct framework in reporting any conflict of interest event or any witnessed behaviour which breaches code of ethic to the Human Resources
- Ensure to participate to the transparency and trust culture within the bank by reporting in good faith, any concerned, misconduct or Malpractice through the Whistleblowing framework.
Specialist Skills / Technical Knowledge, Technical Competencies Required for this role:
- Degree in Finance, Business, or any related subject.
- Exemplary knowledge of the UAE regulatory environment, regulatory structures, market conduct, Islamic banking market products and industry groups.
- 6+ years of regulatory compliance experience
- Ability to quickly acquire knowledge of new regulations, rules and their impact on ADIB business.
- Strong Communications and stakeholder management
- Fluency in English and Arabic
- Strong ability to interpret regulatory obligations and provide clear remediations and clarifications
- Strong presentation skills and ability to perform innovative thinking to solve complex problems with no established precedence while balancing risk, speed and accuracy.
- Ability to adopt a problem-solving approach and autonomous work on the dedicated task
- Strong interpersonal skills with the ability to communicate with impact, build healthy professional connections, influence outcomes, simplify complex topics into actionable recommendations for decision-making.
Previous experience:
- Regulatory Compliance a reputed Financial institutions
- Experience in Conduct Risk Management (could be a plus)
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