The FSRA is responsible for the regulation of Financial Services providers in the ADGM and for the supervision of regulated activities. The Supervision Division consists of the Supervision Section and the Markets Section.
The Supervision Department is responsible for the supervision of banks, insurance companies, money service providers and capital markets intermediaries. The Supervision Department follows a holistic, proactive risk-based approach to supervision of financial service providers falling under its remit.
The Manager Brokerage and Dealing Supervision role within the Supervision Department is responsible, in close liaison with the Senior Manager and Directors, for the supervision of a portfolio of Broker/Dealers and potentially other financial institutions. The Manager is expected to execute the FSRA risk based supervisory approach, as well as contribute to the enhancement of supervisory procedures and regulatory framework as required. The Manager will be expected to be a key member of the supervision team and work effectively with all colleagues.
Strategic responsibilities
- Assist in developing, enhance and implement the framework, policies, rules and procedures for governing and supervising financial institutions.
Operational responsibilities
- Responsible for effective supervision of financial institutions within the FSRA risk-based supervisory plan.
- Develop a supervisory plan / strategy appropriate for the firms/funds assigned thereto together with line manager / backup to mitigate identified areas of supervisory concerns.
- Make appropriate use of supervisory tools such as onsite reviews, third parties reviews, information requests etc.
- Lead and assist in the periodic risk assessment of firms in line with Supervisory work plan, including the planning and executing of supervisory reviews and drafting and communication of recommendations.
- Review periodic reports and returns on an ongoing basis.
- Conduct periodic implementation controls/progress reports in areas where deficiencies have been identified.
- Build and manage relationships with stakeholders among market participants and other relevant ADGM staff.
- Responsible for taking prompt action against deficiencies and non-compliances identified.
- Deliver additional tasks that may be delegated from senior management, including participating in and leading projects.
- Adherence to all internal policies, procedures, standards and behaviours’.
- Assist in implementing policies, rules and processes, including appropriate documentation for all assigned institutions.
- Liaise with other internal stakeholders such as Authorisation and/or other FSRA groups, as appropriate.
- Participate and deliver on projects that may be allocated thereto.
Managerial
- Act as a reference point and provide expertise and support to other colleagues within the Supervision team.
- Contribute towards a team culture within the Supervision team.
Information Security related
- Understand, adopt, adhere and practice responsibilities or controls as per ADGM Information Security policy and as per best practices explained in the induction and awareness sessions.
- Maintain confidentiality, Integrity and availability of the ADGM Information at all times i.e. within as well as outside ADGM.
Education
- Bachelor’s / Master’s Degree
Work Experience
- Minimum 8 years of experience working in broker/dealer supervision or related roles.
- Considerable knowledge of broker/dealer sector regulations, products, services, and market practices.
- Experience of the assessment of risks to identify trends, identify concerns, consider appropriate remedial action and future regulatory requirements.
- Well-developed communications skills both in writing and orally.
- Good 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.
- Demonstrate a proactive approach, ability to manage own workload and a strong commitment to delivering results.
- Fluent in business English.
Desirable:
- Professionally qualification in finance, accounting risk or other related specialism.
- Industry experience in Financial Services for example, in risk management, compliance or internal audit.
- Knowledge and experience of other financial sectors.
- Proficient in Arabic or other language(s) and understanding of the Arabic culture.
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.
