Processor - Escrow Services

Role Overview

Processor - Escrow Services at Emirates NBD, based in the UAE. The role delivers superior client service and seamless execution of Escrow Operations and services as an Account Trustee in compliance with Real Estate Escrow, Common Area Escrow (JOP), Body Corporate Escrow, Commercial Escrow and bank guidelines.

Role Purpose

Provide superior client service experience and seamless delivery of all Escrow Operations and services in collaboration with the team. Ensure services provided as an Account Trustee to clients, internal and external stakeholders are in line with Real Estate Escrow, Common Area Escrow (JOP), Body Corporate Escrow, Commercial Escrow and bank's processes and guidelines.

Key Responsibilities

Operations & Compliance

• Handle day-to-day Escrow operations activities in compliance with Real Estate, DIFC, Common Area and Commercial Escrow Laws, Regulations and internal procedures within required timelines.
• Check daily transaction documents related to Developers, Unit Management, Projects, Payments, Deposits, Allocations, Unit Cancellation/Refund, Pending payments, Guarantee management and Retention transfer to ensure timely processing and confirmation to clients and stakeholders.
• Check project-wise reports and ensure project-wise accounts are reconciled and up to date.
• Reconcile internal and regulatory reports and send to Regulatory and stakeholders within timelines.
• Ensure all exceptions are escalated, approved and ratified.

Stakeholder Management

• Liaise with bank-appointed engineers for obtaining certification for release of payments.
• Ensure customer queries are responded to within timelines and confidentiality is maintained.
• Liaise with concerned team for clarifications related to any transaction.
• Provide clarifications to and seek clarifications from internal and external customers for smooth completion of requests.
• Support Product Managers and Business units operationally, ensuring customer satisfaction and transactions are processed in line with regulatory, internal bank process, policy and procedures.

Process & Systems

• Display quick adaptability to new initiatives, systems or changes in existing Escrow Operations and Services processes.
• Perform User Acceptance Testing (UAT) for new and enhancement product releases.
• Review and provide sign-off to IT and stakeholders.
• Closely liaise with Product team, Tanfeeth, IT and stakeholders for timely delivery of product launch and enhancements on production.

Reporting & Compliance

• Reconcile audit reports and ensure timely submission to Regulatory, DIFC and Common Area in line with Regulatory guidelines for Account trustee, Developer, Common Area and Body Corporate.
• Display subject matter expertise and ensure service quality meets customer, Regulatory and bank expectations.

Optimization

• Analyze operational activities and provide ideas, recommendations and implement changes to reduce manual activities and enhance operational efficiency in compliance with Operational and Regulatory guidelines.

Qualifications & Experience

• UAE Nationals only.
• 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.
• Excellent knowledge of MS Word, Excel and PowerPoint.
• Result and client oriented.
• Business focused.
• Team Player.
• Passionate.
• Self and quick learner.
• Working in collaboration.
• Professional Expertise.
• Client and Regulatory Management.
• Follow management guidelines.