Escrow Services Senior Officer

Role Overview

Escrow Services Senior Officer at ADIB, based in Dubai.

Role Purpose

To work with internal and external stakeholders, regulatory authorities, and department heads to develop and maintain escrow services, ensuring centralized services are provided to the highest level of quality and performance.

Key Responsibilities

Customer & Stakeholder Management

• Visit customers and relevant authorities to track new regulatory updates and maintain business relationships.
• Submit call reports documenting customer and authority interactions.
• Handle and personalize service to escrow-related customers and authorities.
• Maintain the interface with authorities and clients, acting as coordinator and escalation point for parties involved.
• Handle escrow clients UAE-wide to cater to day-to-day customer needs.

Complaints & Service Resolution

• Manage all escrow client complaints within agreed timeframes.
• Coordinate with customers on escrow-related payments and relay information to the department concerned.
• Take corrective actions to fix gaps in day-to-day processing.

Operations & Process Oversight

• Oversee all matters related to daily processes and transactions in coordination with the escrow Operations unit.
• Liaise with other departments where required.
• Identify process and system issues and work with the support team to improve them.
• Maintain accuracy and efficiency in all operations.
• Complete required training to ensure understanding of all processing systems and procedures.

Regulatory & Compliance

• Familiarize yourself with institutional policies and procedures.
• Strictly follow ADIB's Policy & Procedures, Central Bank's Circulars, and ADIB's Compliance Requirements.
• Submit all mandatory reports monthly and quarterly to regulatory authorities.
• Assist in coordination and support of audits and examinations.

Reporting & Documentation

• Keep track of all incoming and outgoing transactions of escrow accounts.
• Create monthly management information system (MIS) and audit-related reports.
• Ensure quality and reliability of MIS reports weekly, monthly, and as required by Senior Management.

Account Management & Documentation

• Review escrow account opening documentation and account maintenance requests received from Relationship Managers and customers.
• Ensure that account opening documentation follows ADIB's Policy and Procedures.
• Handle escrow agreements by reviewing, securing approvals, obtaining customer concurrence and signoff for new onboard escrow projects and accounts.

Projects & Enhancement

• Participate in establishing and implementation of escrow system enhancements, projects, and support initiatives.
• Coordinate promptly and efficiently with Legal, Compliance, Sharia, and Operations while handling escrow transactions.

General Conduct

• Maintain confidentiality at all times.

Qualifications & Experience

• Bachelor degree or equivalent in a relevant subject such as business, finance, or marketing.
• Professional or technical qualifications or diplomas in related subjects.
• Sound experience in escrow rules and regulations.

Skills & Competencies

• Cultural sensitivity and adaptability.
• Interpersonal and relationship skills with ability to develop and sustain executive-level relationships as well as internal organization relationships across a variety of roles and levels.
• Written and superior oral communication skills applied in both in-person and phone interactions.
• Presentation and facilitation skills applied in both in-person and phone interactions.
• Knowledge of principles for providing customer service.