Senior Manager - Supervision

Role Overview

Senior Manager - Supervision at ADGM (Abu Dhabi Global Market) in Abu Dhabi. The role supervises a portfolio of financial institutions in line with FSRA regulations, risk appetite, and international best practices.

Company Overview

The Financial Services Regulatory Authority (FSRA) is responsible for the regulation of Financial Services providers at Abu Dhabi Global Market and supervision of regulated activities. The Supervision Department supervises banks, insurance companies, money service providers, custodians, fund and assets managers, and financial arrangers and advisors, following a holistic, proactive risk-based approach.

Role Purpose

The Senior Manager supervises financial institutions in close liaison with the Supervision Director, implementing regulatory frameworks and supervisory procedures aligned with FSRA standards. The role contributes to the development of FSRA's supervisory approach and serves as a point of supervisory expertise across sectors.

Key Responsibilities

Strategy

• Implement short-term and long-term Key Performance Indicators for the Supervision section.
• Assist in developing, enhancing, and implementing the framework, policies, rules, and procedures for governing and supervising financial institutions.
• Assist in executing strategic direction in relation to supervised entities.
• Further develop the risk-based supervisory approach.

Supervision & Compliance

• Supervise financial institutions' compliance with relevant rules and regulations.
• Develop risk-based supervisory plans using all relevant information and FSRA Risk/Impact Assessment methodology.
• Complete risk assessment of firms' various risk areas.
• Draft and execute supervisory work plans.
• Conduct periodic implementation controls and progress reports in areas where deficiencies have been identified.
• Conduct ongoing analysis of financial institutions' prudential condition and conduct of business.
• Conduct ongoing analysis of financial crime prevention activities.
• Make appropriate use of supervisory tools such as reviews, third-party reviews, and information requests.
• Plan and execute supervisory reviews and inspections.
• Draft and communicate recommendations and remediations in liaison with the Director.
• Take prompt action against deficiencies and non-compliances identified.
• Receive, assess, and complete processing of various applications submitted by financial institutions, including variation of license, withdrawal of license, and change in ownerships.

Stakeholder Management

• Build and manage relationships with senior stakeholders among market participants.
• Liaise with other internal stakeholders such as Authorisation, Enforcement, and other ADGM teams as needed.
• Build and manage relationships with relevant ADGM staff.

Projects & Additional Duties

• Deliver additional tasks delegated from the Director, such as ad-hoc projects, spot reviews, and investigations.
• Participate and deliver on projects allocated to the role.
• Assist in implementing policies, rules, and processes, including appropriate documentation for all assigned institutions.
• Deliver additional tasks delegated from the Senior Executive Director - Supervision.

Expertise & Leadership

• Act as a point of supervisory expertise and reference to the rest of the team across certain sectors.

Governance

• Adhere to all internal policies, procedures, standards, and behaviours.

Team Management

• Create an environment where team members consistently drive to improve performance.
• Manage team with full accountability for achieving overall agreed objectives, where applicable.
• Manage by effectively empowering, supporting, and guiding team members where needed.
• Take responsibility for development of staff working with and reporting to the role, where applicable.
• Review performance of team and address performance issues quickly through clear decisions, where applicable.

Qualifications & Experience

• Bachelor's degree or Master's degree in Finance, Accounting, or Law.
• Minimum 10–12 years of experience in financial regulatory supervision and/or industry experience in Financial Services compliance or internal audit.
• Experience in conducting inspections, reviews, and/or audits of Financial Services firms.
• Considerable knowledge of conduct of business and asset/fund management regulations and international market practices.
• Strong knowledge of AML/CFT and TFS regulation and Federal requirements.
• Knowledge and experience of assessing authorisation and variations applications.
• Considerable knowledge and understanding of financial reports analysis and key risks in this area.
• Experience of assessing risks and the mitigation and controls environment.
• Expertise in the implementation of regulatory policies.
• Qualifications such as CFA, ACCA, CPA, or CMA are preferable.

Skills & Competencies

• Ability to see the wider picture to identify key trends and future regulatory requirements.
• Well-developed communication skills, both in writing and orally.
• Fluent in business English and strong report writing skills.
• Strong internal and external stakeholder management skills.
• Good influencing and negotiation skills.
• Demonstrate strong teamwork, working collaboratively with a team of diverse professionals.
• Demonstrate planning, organisation, and analytical skills.
• Demonstrate a strong sense of responsibility and impeccable integrity.

Additional Information

Desirable Qualifications & Experience

• Knowledgeable in Asset, Wealth, Fund Management, and/or Custodian business.
• Knowledge of international finance and corporate laws and regulations.
• Proficient in Arabic or other language(s) and understanding of Arabic culture.