Senior Manager - Supervision

The FSRA is responsible for the regulation of Financial Services providers at Abu Dhabi Global Market and for the supervision of regulated activities.

The Supervision Department is responsible for the supervision of banks, insurance companies, money service providers, custodians, fund/assets managers and financial arrangers and advisors. The Supervision Department follows a holistic, proactive risk-based approach to supervision of financial service providers.

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 Department and across FSRA.

• Implement the short term and long term Key Performance Indicators 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 in relation to the supervised entities.

• 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 risk assessment of firms’ various risk areas, the drafting and execution of the supervisory work plan.
• Conduct periodic implementation controls/progress reports in areas where deficiencies have been identified.
• Planning and executing of supervisory reviews/inspection, drafting and communication of recommendations and remediations, in liaison with the Director.
• Conduct ongoing analysis of the financial institutions’ prudential condition and their conduct of business as well as financial crime prevention activities.
• 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 Senior Executive Director - Supervision.
• Liaise with other internal stakeholders such as Authorisation, Enforcement and/or other ADGM teams, as needed.
• 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 certain sectors.
• Receiving, assessing and completing the processing of the various applications submitted by the financial institutions’ including the variation of license, withdrawal of license, change in ownerships, and etc.

• 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, supporting and guiding the team members where needed.
• 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.

• Bachelor’s / Master’s Degree in Finance, Accounting, or Law.
• Qualifications like CFA, ACCA, CPA or CMA are…