Requirements
The role requires a Bachelor's degree and 6-8 years of experience in financial supervision or industry experience, ideally in the insurance sector. Candidates must have good knowledge of insurance regulations, products, services, market practices, and financial crime prevention. Strong communication, planning, organizational, analytical, and influencing skills are essential.
Description
Job description / Role
Job Type
Full Time
Job Location
Abu Dhabi, UAE
Nationality
Any Nationality
Salary
Not Specified
Gender
Not Specified
Arabic Fluency
Not Specified
Job Function
Finance, Business Analysis & Consulting
Company Industry
Insurance
Overview
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 Department and the Markets Department.
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.
The Senior Specialist role works closely with the Managers and Senior Managers to assist in the implementation of the supervisory framework and in the supervision of a portfolio of insurance and other financial institutions, consistently with FSRA's regulations and risk appetite and international best practices.
Strategic responsibilities
Assist in the implementation of the short- and long-term objectives of Supervision Section.
Assist in developing, enhancing, and implementing the framework, policies, rules, and procedures for governing and supervising financial institutions.
Operational responsibilities
Responsible for supervising firms' compliance with relevant rules and regulations and in their periodic impact/risk assessment, with support from the Director, Senior Manager, or Manager.
Responsible for the periodic risk assessment of firms, the drafting of the supervisory work plan, and the execution of the supervisory work plan, including the planning and executing of supervisory reviews and drafting and communication of recommendations, with support from the Director, Senior Manager, or Manager.
Responsible for the ongoing analysis of prudential condition of the assigned institutions and their conduct of business and compliance with Financial Crime Prevention framework with support from the Director, Senior Manager, or Manager.
Responsible for or assist in taking prompt action against deficiencies and non-compliances identified including periodic follow-up to ensure timely resolution of deficiencies.
Build relationships with regulated institutions and other stakeholders, both internal and external to FSRA and ADGM.
Assist in implementing policies, rules, and processes, including appropriate documentation for all assigned institutions.
Deliver additional tasks that may be delegated from the Director, Senior Manager, or Manager Supervision.
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.
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 degree
Work experience
Minimum 6-8 years of experience of 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.
Good communication skills both in writing and orally.
Results-oriented team player.
Good influencing and negotiation skills.
Working well in a collaborative environment with a team of 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.
Desirable
Degree qualification in one of the following disciplines: Finance, Banking and Accounting, Risk Management, Law, or related disciplines.
Proficient in Arabic or other language(s) and understanding of the Arabic culture.
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