Senior Specialist - Supervision

Role Overview

Senior Specialist - Supervision at ADGM (Abu Dhabi Global Market), Abu Dhabi. The role works closely with Managers and Senior Managers to implement the supervisory framework and supervise a portfolio of insurance and other financial institutions in accordance with FSRA regulations, risk appetite and international best practices.

Company Overview

The Financial Services Regulatory Authority (FSRA) regulates Financial Services providers in ADGM and supervises regulated activities. The Supervision Division comprises the Supervision Department and the Markets Department. The Supervision Department supervises banks, insurance companies, money service providers and capital markets intermediaries, following a holistic, proactive risk-based approach.

Role Purpose

Assist in implementing supervisory objectives and frameworks while supervising assigned financial institutions' compliance with regulations, risk assessments and prudential conditions. Support the execution of supervisory work plans, periodic reviews and recommendations in accordance with FSRA regulations and international best practices.

Key Responsibilities

Strategy & Framework

• Assist in implementing the short- and long-term objectives of the Supervision Section.
• Assist in developing, enhancing and implementing frameworks, policies, rules and procedures for governing and supervising financial institutions.

Supervision & Compliance

• Supervise firms' compliance with relevant rules and regulations and conduct periodic impact and risk assessments with support from Director, Senior Manager or Manager.
• Conduct periodic risk assessments of firms and draft supervisory work plans.
• Execute supervisory work plans, including planning and executing supervisory reviews.
• Draft and communicate supervisory recommendations with support from Director, Senior Manager or Manager.
• Conduct ongoing analysis of the prudential condition of assigned institutions.
• Monitor firms' conduct of business and compliance with the Financial Crime Prevention framework with support from Director, Senior Manager or Manager.

Deficiency Management

• Take prompt action against identified deficiencies and non-compliances.
• Assist in conducting periodic follow-up to ensure timely resolution of deficiencies.

Stakeholder Management

• Build relationships with regulated institutions and other stakeholders, both internal and external to FSRA and ADGM.
• Liaise with internal stakeholders such as Authorisation and other FSRA groups as appropriate.

Operations

• Assist in implementing policies, rules and processes, including appropriate documentation for all assigned institutions.
• Deliver additional tasks delegated by Director, Senior Manager or Manager Supervision.
• Participate and deliver on allocated projects.

Information Security

• Understand, adopt, adhere to and practice responsibilities and 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 Degree.
• Minimum 6-8 years of experience in financial supervision or industry experience in one or more financial sectors, ideally in the insurance sector.
• Good knowledge of insurance sector regulations, products, services and market practices.
• Good knowledge of Financial Crime Prevention regulations and requirements.

Skills & Competencies

• Good communications skills, both in writing and orally.
• Results-oriented team player.
• Good influencing and negotiation skills.
• Works well in collaborative environments with diverse professionals.
• Good planning, organisation and analytical skills.
• Strong sense of responsibility and impeccable integrity.
• Positive "can-do" attitude, eager to take on additional responsibilities.
• Eager to learn additional skills, both technically and behaviourally.
• Fluent in business English.

Additional Information

Desirable Qualifications

• Degree qualification in Finance, Banking and Accounting, Risk Management, Law or related disciplines.
• Proficient in Arabic or other languages with understanding of Arabic Culture.