Senior Manager Market Conduct Risk - Emirati Talent

Job Purpose:

Responsible for establishing, maintaining and enhancing the Bank's independent Market Conduct Risk Framework as part of the Second Line of Defense, ensuring effective oversight of conduct risks across the Bank in accordance with the UAE Central Bank Consumer Protection Regulation, Consumer Protection Standards, Market Conduct Risk-Based Supervision Framework, SME Customer Protection Regulation and other applicable regulatory requirements.

The role is responsible for providing independent challenge and oversight over the effectiveness of the First Line's management of conduct risks throughout the customer lifecycle, promoting fair customer outcomes, strengthening conduct culture, overseeing market conduct governance arrangements, assessing emerging conduct risks using a risk-based supervisory approach, and providing assurance and reporting to Senior Management, the Board and relevant Board Committees.

The role also supports regulatory engagements, thematic reviews, conducting risk assessments and continuous enhancement of the Bank's conduct risk governance framework.

Chief Risk Officer

Manager / Senior Officer – Market Conduct Risk

• Review controls established by first-line owners to mitigate misconduct risks in third-party dealings and engagements; and escalation gaps to senior management. Establish, maintain, and regularly review a risk register for risks arising from misconduct across all business units.
• Collaborate with various stakeholders to ensure the bank has effective systems for managing and mitigating conduct risks.
• Perform enterprise-wide conduct risk assessments using a risk-based supervisory methodology.
• Identify inherent and residual conduct risks across products, services, channels and customer journeys.
• Conduct thematic reviews based on emerging risks, complaints, regulatory findings, incidents and market developments.
• Develop and maintain the Conduct Risk Universe and Conduct Risk Register.
• Recommend enhancements to mitigate identified conduct risks.

• Independently oversee implementation of Consumer Protection Regulation and Consumer Protection Standards.
• Challenge effectiveness of customer disclosures, transparency and communications.
• Oversee product governance arrangements including target market assessments and product suitability.
• Review fair value / Value for Money assessments for products.
• Provide oversight over customer onboarding, servicing, complaints, vulnerable customer treatment and account closures.
• Challenge the effectiveness of complaint root cause analysis and remediation

• Independently challenge New Product Approval processes to ensure customer risks have been adequately assessed.
• Review customer outcomes throughout the product lifecycle.
• Ensure conduct risk assessments are completed before launch of new products or material product changes.

• Market Conduct regulatory engagements with CBUAE.
• Coordinate responses to regulatory examinations.
• Track remediation plans arising from supervisory reviews.
• Monitor implementation of regulatory developments

• Assess and enhance existing training programs on conduct risk, ensuring employees understand and comply with the conduct standards.
• Collaborate with product development and marketing teamsto ensure the suitability and appropriateness of products and services for the bank’s customers.

Provide oversight and challenge on the bank’s Conflict of Interest policy and controls; review and elevate significant conflicts identified to Senior management ensuring transparency and fair treatment of all parties.

Customer Outcomes, Complaint trends, Root causes, CPS and Regulatory breaches, Conduct incidents,

KRIs, Vulnerable customer and Product governance metrics, Sales quality and quality Assurance results.

• Leverage data analytics to identify emerging conduct risks.
• Develop early warning indicators.
• Perform trend analysis across complaints, sales quality, breaches,…