Manager - Supervision

Role Overview

Manager - Supervision at ADGM, Abu Dhabi Global Market. The role sits within the Supervision Department, which oversees banks, insurance companies, money service providers, and capital markets intermediaries.

Company Overview

The FSRA (Financial Services Regulatory Authority) regulates Financial Services providers in the ADGM and supervises regulated activities. The Supervision Division comprises the Supervision Section and the Markets Section. The Supervision Department follows a holistic, proactive risk-based approach to supervision.

Role Purpose

Supervise a portfolio of Broker/Dealers and potentially other financial institutions in close liaison with the Senior Manager and Directors. Execute the FSRA risk-based supervisory approach and contribute to enhancement of supervisory procedures and regulatory framework. Operate as a key member of the supervision team.

Key Responsibilities

Strategy and Framework

• Assist in developing, enhancing, and implementing the framework, policies, rules, and procedures for governing and supervising financial institutions.

Supervision and Risk Assessment

• Execute effective supervision of financial institutions within the FSRA risk-based supervisory plan.
• Develop a supervisory plan and strategy appropriate for assigned firms and funds together with line manager or backup to mitigate identified supervisory concerns.
• Lead and assist in periodic risk assessment of firms in line with supervisory work plan, including planning and executing supervisory reviews.
• Make appropriate use of supervisory tools such as onsite reviews, third-party reviews, and information requests.
• Review periodic reports and returns on an ongoing basis.
• Conduct periodic implementation controls and progress reports in areas where deficiencies have been identified.
• Draft and communicate recommendations following supervisory reviews.

Compliance and Remedial Action

• Take prompt action against deficiencies and non-compliances identified.
• Assist in implementing policies, rules, and processes, including appropriate documentation for all assigned institutions.

Stakeholder Management

• Build and manage relationships with stakeholders among market participants and other relevant ADGM staff.
• Liaise with other internal stakeholders such as Authorisation and other FSRA groups as appropriate.

Team and Leadership

• Act as a reference point and provide expertise and support to other colleagues within the Supervision team.
• Contribute towards a collaborative team culture within the Supervision team.

Project and Task Delivery

• Deliver additional tasks delegated from senior management, including participating in and leading projects.
• Participate and deliver on projects allocated thereto.

Compliance and Governance

• Adhere to all internal policies, procedures, standards, and behaviours.
• Understand, adopt, adhere to, and practice responsibilities and controls as per ADGM Information Security policy and best practices covered in induction and awareness sessions.
• Maintain confidentiality, integrity, and availability of ADGM information at all times, both within and outside ADGM.

Qualifications & Experience

• Bachelor's degree or Master's degree.
• Minimum 8 years of experience working in broker/dealer supervision or related roles.
• Considerable knowledge of broker/dealer sector regulations, products, services, and market practices.
• Experience in assessment of risks to identify trends, identify concerns, consider appropriate remedial action, and anticipate future regulatory requirements.

Skills & Competencies

• Well-developed communication skills both in writing and orally.
• Good internal and external stakeholder management skills.
• Good influencing and negotiation skills.
• Strong teamwork and ability to collaborate with diverse professionals.
• Planning, organisation, and analytical skills.
• Strong sense of responsibility and impeccable integrity.
• Proactive approach with ability to manage own workload and strong commitment to delivering results.
• Fluent in business English.

Additional Information

Desirable Qualifications and Experience

• Professional qualification in finance, accounting, risk, or other related specialism.
• Industry experience in Financial Services, for example in risk management, compliance, or internal audit.
• Knowledge and experience of other financial sectors.
• Proficiency in Arabic or other languages and understanding of Arabic culture.