Senior Enforcement Specialist – Financial Regulation

The Financial Services Regulatory Authority (“FSRA”) is responsible for the regulation of financial services in the Abu Dhabi Global Market (“ADGM”).

One of the FSRA’s objectives is to prevent, detect and restrain conduct that causes or may cause damage to the reputation to the ADGM through appropriate means including the imposition of sanctions. The FSRA Enforcement Department plays a critical role in advancing the FSRA’s pursuit of its objectives through the fair and proportionate use of the FSRA’s enforcement powers.

The Enforcement Department is responsible for:

• Complaints Management:
  Receive, assess and respond to all complaints received by the FSRA efficiently and effectively.
• Internal Assistance:
  Provide effective assistance to the FSRA’s supervisory departments.
• Internal Referrals:
  Receive and assess internal referrals concerning potential contraventions of FSRA Regulations and Rules.
• External Referrals:
  Receive and assess external referrals of information from other regulatory or law enforcement bodies concerning potential contraventions of FSRA Regulations and Rules, or otherwise potential misconduct in the ADGM.
• Investigations:
  Plan and conduct all investigations into potential contraventions of FSRA Regulations and Rules.
• Regulatory Action:
  Arrange for the exercise by the FSRA of its regulatory powers, including the preparation of briefs for internal decision makers and supporting the conduct of litigation (with Legal).
• Mutual Assistance:
  Receive, assess and respond to external requests for assistance received by the FSRA concerning Enforcement matters or which otherwise require the exercise of the FSRA’s information gathering powers.

In addition, the responsibilities of the Enforcement Department include:

• Developing the FSRA’s overall strategy and approach to enforcement in collaboration with key FSRA stakeholders;
• Developing and implementing the Enforcement Department policies, procedures and practices; and
• Developing systems and infrastructure for the FSRA’s Enforcement function.

The Senior Specialist will be responsible for the conduct of a range of assigned enforcement matters, working within a working within a team of experienced regulatory enforcement professionals (made up of investigators, accountants, lawyers and market specialists).

In addition, the incumbent will be responsible for the conduct of matters specialising in the following practice and policy/project areas:

• Virtual Asset regulatory compliance and misconduct; and
• Unauthorised Business and Fraudulent Schemes.

Primary Duties

• Assist in the development and effective delivery of the FSRA and Enforcement Department’s Strategy and Operational Plan;
• Assist in the ongoing development, enhancement and implementation of policies and procedures;
• Take responsibility for initiatives both at FSRA and Departmental level as may be allocated thereto;
• Provide expert leadership in key assigned practice and policy areas;
• Be responsible for leading investigations and regulatory action matters and supervising the conduct of regulatory investigations, referral and complaint assessments, regulatory action matters and mutual assistance matters.

Operational responsibilities

• Conduct of a range of assigned investigations, referral assessments, complaints assessments, mutual assistance matters and regulatory action proceedings.
• Manage and conduct assigned complex investigations into suspected contraventions of FSRA administered Regulations and Rules, including but not limited to:
• Preparing formal recommendations to commence investigations;
• Planning and project managing the investigation;
• Gathering evidence (including through the appropriate exercise of the FSRA’s formal powers to require production of documents and information and conduct inspections, and through voluntary requests for information and documents);
• Forensically reviewing and analysing evidence;
• Securing and registering evidence;
• Conducting investigative interviews (on a compulsory and voluntary basis);
• Reporting on the progress of investigations;
• Preparation of detailed reports of the findings of the investigation;
• Preparation of briefs of evidence; and
• Preparation of recommendations to pursue regulatory…