Senior Manager - Policy

Role Overview

Senior Manager - Policy at the Financial Services Regulatory Authority (FSRA), Abu Dhabi Global Market (ADGM).

Company Overview

The Financial Services Regulatory Authority (FSRA) is responsible for the regulation of financial services providers in Abu Dhabi Global Market (ADGM) and related activities. The Senior Manager will be part of the Policy team within the Policy & Legal Division of the FSRA, reporting to the Director (Policy).

Role Purpose

Identify and implement policy initiatives for the development and maintenance of the regulatory framework of the FSRA across both conduct and prudential dimensions, including for the FinTech sector and the evolution of the digital assets segment. Work closely with colleagues within the team, the broader division, and across the FSRA and ADGM.

Key Responsibilities

Policy Development and Implementation

• Identify and implement policy initiatives for the development and maintenance of conduct and prudential aspects of the regulatory framework in response to industry evolution, international developments, and in line with expectations set by international standard setting bodies.
• Manage complex and large policy projects, including staff and external resources, from project initiation, planning, benchmarking, policy development, to publication and implementation of final legislation.
• Manage the consultation process by collating and analysing feedback in response to published consultation or discussion papers to implement legislative changes and enact policy proposals.
• Support wider policy and legislative initiatives for key sectors in ADGM, including Wealth/Asset Management and RegTech/SupTech.
• Contribute to the legislative drafting process for improvements to the legislative framework and new legislative initiatives.

Stakeholder and Regulatory Coordination

• Prepare relevant Board Papers and liaise with internal ADGM bodies, including the Office of Legal Affairs, Governance and Compliance.
• Review and provide feedback to policy development and implemented legislation by other local and federal regulatory and government authorities, including the CBUAE, SCA, and the MoF.
• Participate in working groups and committees with other local and federal regulatory and government authorities, including in relation to international assessments of the UAE undertaken by the OECD, FATF, and the IMF/World Bank.
• Partner with the Legal team to consider and respond to policy queries and interpretation requests from internal and external stakeholders.

Policy Advisory and Intelligence

• Provide other divisions in the FSRA with timely, high-quality, and consistent policy advisory services, including through peer reviewing materials produced by the team, the division, and other areas of the FSRA and ADGM.
• Horizon scan for international financial services policy and legislative landscape, and propose relevant enhancements for consideration by the FSRA.

Process Improvement

• Monitor and seek to improve internal processes and procedures of the team, the division, and where required, the FSRA.

Team Leadership

• Create an environment where team members consistently drive to improve performance.
• Manage team with full accountability for achieving overall agreed objectives.
• Manage by effectively empowering team members.
• Take responsibility for mentoring high potential and most critical talent in their career progression.
• Review performance of team and address performance issues quickly through clear decisions.

Information Security

• Understand, adopt, adhere to, and practice responsibilities or controls as per ADGM Information Security policy and best practices explained 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 or Master's degree, ideally in the fields of law, finance, FinTech, public policy, or related disciplines.
• Minimum 10-12 years of policy development and/or other regulatory experience, including in the digital asset sector, ideally in the financial services or government sectors.
• Experience with analysis of innovative product offerings and business models, and assessing associated risks.
• Experience in proposing recommendations to address identified risks.
• Experience of international standards, such as those of the BCBS, IOSCO, the IAIS, and the FSB.

Skills & Competencies

• Strong internal and external stakeholder management skills, including excellent influencing and negotiation skills.
• Strong project management, planning, organisation, and analytical skills.
• Excellent written and oral communication skills to translate complex ideas into plain language for others at all levels of the FSRA, other ADGM authorities, and external stakeholders.
• Fluent in business English.
• Understanding of emerging enabling technologies, such as distributed ledger technology, smart contracts, decentralised technology, artificial intelligence, and their impacts on financial markets (desirable).
• Expertise in conduct and prudential matters associated with FinTech entities, including for virtual asset service providers (desirable).
• Experience in dealing with international regulatory bodies (desirable).
• Proficiency in Arabic or other language(s) and understanding of Arabic culture (desirable).