Senior Manager - Enforcement

Role Overview

Senior Manager – Enforcement at the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM).

Company Overview

The Financial Services Regulatory Authority is responsible for the regulation of financial services in the Abu Dhabi Global Market. The FSRA's objectives include preventing, detecting and restraining conduct that causes or may cause damage to the reputation of the ADGM through appropriate means including the imposition of sanctions. The Enforcement Department plays a critical role in advancing these objectives through fair and proportionate use of the FSRA's enforcement powers.

Role Purpose

The Senior Manager – Enforcement leads the conduct of a range of assigned enforcement matters within a team of experienced regulatory enforcement professionals including investigators, accountants, lawyers and market specialists. The role is responsible for regulatory investigations, referral assessments, complaint assessments, disciplinary and regulatory action matters, and mutual assistance matters. As a senior member of the Department, the Senior Manager acts as a point of expertise and advice to other team members on enforcement activities, contributes to the development of FSRA Enforcement policy, and supports the Executive Director – Enforcement in enhancing the FSRA's Enforcement function to meet international standards of best practice.

Key Responsibilities

Strategy and Policy Development

• Assist in the development and effective delivery of the FSRA and Enforcement Department's Strategy and Operational Plan.
• Assist in the ongoing development, enhancement and implementation of policies and procedures.
• Contribute to the development of FSRA Enforcement policy in specific specialisation areas.
• Contribute to the Enforcement Department's continuous development and enhancement of its policies and procedures.
• Provide expert leadership in key assigned practice and policy areas.
• Contribute to the Enforcement Department's input into the FSRA's FSAP Assessment Project.

Investigations and Case Management

• Manage and conduct assigned complex investigations into suspected contraventions of FSRA administered Regulations and Rules.
• Prepare formal recommendations to commence investigations.
• Plan and project manage investigations.
• Gather evidence including through the appropriate exercise of the FSRA's formal powers to require production of documents and information and conduct inspections, and through voluntary requests for information and documents.
• Forensically review and analyse evidence.
• Secure and register evidence.
• Conduct investigative interviews on a compulsory and voluntary basis.
• Report on the progress of investigations.
• Prepare detailed reports of the findings of investigations.
• Prepare briefs of evidence.
• Prepare recommendations to pursue regulatory action to address contraventions of FSRA administered legislation.

Complaints Assessment

• Assess and respond to complaints concerning potential contraventions of FSRA administered legislation.
• Communicate with complainants to gather further information and supporting evidence as required.
• Gather information and evidence including through the exercise of the FSRA's formal powers to require production of documents and information and conduct inspections, and through voluntary requests for information and documents.
• Review and analyse evidence.
• Prepare detailed assessment reports and recommendations for further investigation or to pursue regulatory action as required.
• Respond to complainants.
• Contribute to the oversight of the Enforcement Department's Complaints Management function.

Referral Assessment

• Assess and respond to internal and external referrals of information concerning potential contraventions of FSRA administered legislation.
• Gather information and evidence including through the exercise of the FSRA's formal powers to require production of documents and information and conduct inspections, and through voluntary requests for information and documents.
• Review and analyse evidence.
• Prepare detailed assessment reports.
• Prepare recommendations for further investigation or to pursue regulatory action as required.

Regulatory Action and Disciplinary Proceedings

• Lead investigations and regulatory action matters and supervise the conduct of regulatory investigations, referral and complaint assessments, regulatory action matters and mutual assistance matters.
• Conduct, in collaboration with the FSRA Legal Department, Regulatory Action proceedings to impose regulatory and disciplinary action, including large complex regulatory actions that result in tribunal or court litigation.
• Conduct, in collaboration with the FSRA Legal Department, Taxation Reporting penalty proceedings.

Mutual Assistance and International Cooperation

• Conduct mutual assistance matters involving the collection of information and documents on behalf of external regulatory authorities.
• Work with other regulatory agencies in any cross-border investigations and regulatory actions.
• Provide effective assistance to international and UAE regulatory and law enforcement authorities including in information sharing requests made under relevant Memorandums of Understanding and, where appropriate, by conducting investigations in ADGM on their behalf with respect to potential breaches.

Stakeholder Management and Collaboration

• Work collaboratively with the other regulatory functions in the FSRA to deliver risk-based regulation to achieve the objectives of the ADGM.
• Develop and maintain effective relationships with ADGM and external stakeholders including UAE and international regulatory and law enforcement authorities, ADGM Authorities, market participants and representative bodies to identify and develop initiatives that support and contribute to the development of ADGM as an International Financial Centre.

Team Leadership and Development

• Contribute to building a cohesive team environment in which team members consistently drive to improve performance.
• Take responsibility for mentoring high potential and critical talent in their career progression.

General Responsibilities

• Take responsibility for initiatives both at FSRA and Departmental level as may be allocated thereto.
• Carry out any project related work that may be assigned both at FSRA and Departmental level.
• Deliver additional tasks and projects that may be delegated.

Information Security

• Understand, adopt, adhere and practice responsibilities and controls as per ADGM Information Security policy and as per best practices explained in induction and awareness sessions.
• Maintain confidentiality, integrity and availability of ADGM Information at all times within as well as outside ADGM.

Qualifications & Experience

• Bachelor's or Master's degree.
• Appropriate qualifications in a relevant discipline, primarily law, forensic accounting or law enforcement.
• Minimum 10–12+ years of regulatory enforcement and/or investigation experience.
• Strong knowledge and experience of regulatory enforcement and investigation practice.
• Comprehensive understanding of financial services regulation and applicable laws and regulations.
• In-depth knowledge of the operation of financial markets and financial services industry.
• Substantial experience in investigation and disciplinary work in a relevant sector including regulatory bodies.
• Substantial experience in securities, futures and leveraged foreign exchange markets.
• Demonstrated ability to lead and conduct complex investigations and regulatory action proceedings.
• Appropriate certifications in anti-money laundering and counter terrorist financing compliance and fraud examination preferred.

Skills & Competencies

• Ability to lead and motivate an effective multi-disciplinary team.
• Ability to anticipate and interpret market changes, envision the future and decide strategic priorities.
• Ability to drive execution, continuously improve the core and reallocate resources at pace.
• Ability to develop talent, build and develop teams and strengthen organizational capability.
• Ability to make appropriate decisions which are based upon sound judgement and analysis, are evidence-based and well documented.
• Excellent analytical, interpersonal, presentation, written and communication skills.
• Excellent command of written and spoken English.
• Proficiency in Arabic language would be an advantage.
• Ability to build and manage complex stakeholder relationships.
• Ability to simplify complex problems and develop effective solutions.
• Ability to take ownership, demonstrate resilience and persist and sustain energy in the face of challenges.
• Strong sense of responsibility and impeccable integrity.
• Act with purpose and integrity.
• Lead by example and demonstrate a strong sense of responsibility and integrity.

Additional Information

The Senior Manager is expected to work with internal and external stakeholders and contribute to ensuring that the FSRA's Enforcement framework meets international standards of best practice and is utilised to provide effective enforcement and credible deterrence.