Job Description

The Financial Services Regulatory Authority (FSRA) is responsible for the regulation of financial services in Abu Dhabi Global Market (ADGM) and the supervision of firms authorized to provide financial services.

The Senior Manager will be a member of the Policy team and assist the Director in identifying and implementing policy initiatives that support the growth and the development of the financial services sector and the wider commercial framework in ADGM, specifically in the areas of:

• Asset Management;
• New Age Finance (such as Fintech, HealthTech, Crypto and Cyper Tech);
• Traditional Finance (such as Private Banking & Wealth Mgmt, M&A and Treasury)
• Functional Clusters (such as Restructuring, Dispute Resolution)

This will require the identification of relevant new policy initiatives needed for the effective ongoing regulation of financial services in ADGM, alongside the maintenance of existing policies as enacted through the FSRA Rulebooks, collaborating with members of the Legal team and other operational units within ADGM as necessary.

The Policy team also monitors the regulatory frameworks implemented by other local and federal regulatory and government authorities including the CBUAE, SCA and MOF, and collaborates with those and other authorities on international assessments of the UAE undertaken by bodies such as the OECD, FATF, the IMF and the World Bank.

There is also engagement with supranational regulatory organisations such as the BCBS, IOSCO and the IAIS, in monitoring updates to their regulatory frameworks that may need to be implemented in ADGM and also responding to fact-finding exercises and surveys that they undertake.

• Assist the Director in providing the FSRA with high quality policy advice in order to achieve the overarching objectives of both the FSRA and ADGM more widely
• Assist in the development and ongoing review of the policies and rules for the FSRA, in prudential, conduct and AML/CFT areas
• Respond to policy queries from internal stakeholders, market participants and other regulatory authorities, in conjunction with the Legal team as appropriate
• Identify, recommend and present policy development options for consideration by the Chief Executive Officer of the FSRA and its decision-making bodies, ensuring they are underpinned by robust analysis and evidence
• Lead multi-disciplinary project teams working on policy initiatives across both the FSRA and, where necessary, ADGM as a whole
• Manage public consultations arising from proposed regulatory changes
• Where required, manage relationships with external stakeholders, including international regulators and market participants
• Assist in the improvement and management of processes and procedures for the Policy team and the wider Policy & Legal division
• Regularly review the international financial services landscape and propose any relevant policy matters for consideration by the FSRA
• Where appropriate, participate in international forums with other regulatory bodies to consider policy matters relating to financial services and in particular financial services regulation
• Manage more junior members of the team where required
• Other potential responsibilities arising from contributing to the efficient functioning of the FSRA and ADGM as a whole

Information Security related

• understand, adopt, adhere to and practise responsibilities or controls as per the ADGM Information Security policy and as per best practices explained in the induction and awareness sessions; and
• maintain the confidentiality, integrity and availability of ADGM Information at all times, both within and outside ADGM
• A Bachelor’s Degree or equivalent qualification
• A minimum of 10+ years of experience in working for a financial services regulator, supranational regulatory body or equivalent government bodyor in a relevant field in the financial services industry

Knowledge and skills

• Essential
• Excellent knowledge, skills and experience in policy matters relating to the regulation and supervision of authorised firms engaged in the provision of financial services in prudential, conduct and AML/CFT areas
• Excellent knowledge of international regulatory frameworks, e.g. Basel, IOSCO, IAIS, the EU and other jurisdictions
• Excellent interpersonal and presentation skills, along with the ability to build relationships and effectively communicate with others at all levels of the FSRA and other ADGM authorities, both orally and in writing
• Fluency in business English, including the ability to summarise and present complex issues to audiences unfamiliar with them for their consideration and decision
• Ability to exercise judgement on the relative importance of competing issues, as part of a multi-disciplinary team including policy specialists, lawyers, supervisors
• Ability to work independently with little or no supervision, including taking the initiative where appropriate

Desirable

• Specialist knowledge of insurance, asset management, private wealth, or wealth management and the associated regulatory frameworks
• UAE Nationals

The FSRA was established to advocate a progressive financial services environment and uphold the integrity of ADGM. The FSRA’s policies are aligned with internationally recognised standards and ensure that financial entities operate with certainty, market participants thrive in an equal level-playing environment, and the interests of investors are safeguarded.