Processor - Escrow Services

Role Overview

Processor - Escrow Services at Emirates Islamic Bank, based in the UAE. The role delivers superior client service and seamless escrow operations across Real Estate, Common Area, Body Corporate, and Commercial escrow services in compliance with all regulatory requirements and bank guidelines.

Role Purpose

Ensure timely and accurate processing of all escrow operations and transactions while maintaining compliance with Real Estate, DIFC, Common Area, and Commercial Escrow Laws and Regulations. Serve as an Account Trustee to clients and stakeholders, delivering service quality that meets regulatory, bank, and customer expectations.

Key Responsibilities

Operations & Processing

• Handle day-to-day escrow operations activities in compliance with Real Estate, DIFC, Common Area, and Commercial Escrow Laws, Regulations, and internal procedures within established timelines.
• Check daily transaction documents related to Developers, Unit Management, Projects, Payments, Deposits, Allocations, Unit Cancellation/Refund, Pending Payments, Guarantee Management, and Retention Transfer.
• Ensure timely processing and confirmation of transactions to clients and stakeholders.
• Reconcile project-wise accounts and ensure all accounts are up to date.
• Escalate, approve, and ratify all exceptions.

Stakeholder & Client Management

• Liaise with bank-appointed engineers to obtain certification for payment release.
• Respond to customer queries within established timelines while maintaining confidentiality.
• Liaise with concerned teams for clarifications related to any transaction.
• Support Product Managers and Business Units operationally to ensure customer satisfaction.
• Provide clarifications to and seek clarifications from internal and external customers for smooth completion of requests.
• Closely liaise with Product Team, Tanfeeth, IT, and stakeholders for timely delivery of product launches and enhancements to production.

Reporting & Compliance

• Ensure timely reconciliation of internal and regulatory reports for submission to Regulatory bodies and stakeholders within required timelines.
• Reconcile audit reports and ensure timely submission to Regulatory, DIFC, and Common Area bodies in line with Account Trustee, Developer, Common Area, and Body Corporate regulatory guidelines.

Process Improvement & Quality

• Analyze operational activities and provide ideas, recommendations, and implementations to reduce manual activities and enhance operational efficiency in compliance with Operational and Regulatory guidelines.
• Display subject matter expertise and ensure service quality meets customer, Regulatory, and bank expectations.
• Quickly adapt to new initiatives, systems, or changes in existing escrow operations and services processes.

Systems & Technology

• Perform UAT for new and enhancement product releases, review, and provide sign-off to IT and stakeholders.

Qualifications & Experience

• UAE National status required.
• Bachelor of Commerce or equivalent degree.
• 0–2 years of experience in Escrow Operations, Services, and various aspects of banking.

Skills & Competencies

• Proficiency with Finacle, BPM, EMS, Business Online, Payment Hub, and other banking applications.
• Proficiency with MS Word, Excel, and PowerPoint.
• Subject matter expertise in escrow services and regulatory compliance.
• Client and Regulatory Management.
• Team player with strong collaboration skills.
• Result and client oriented with excellent performance.
• Business focused.
• Passionate and self-motivated.
• Quick learner.
• Professional expertise and ability to follow management guidelines.