WM, Priority and PBG Compliance Manager

Description

Role : XX

Location : XX

Role Purpose :

The Wealth Management Priority & Private Banking Compliance Manager is responsible for supporting ADIBs Retail Banking Priority Banking Wealth Management Business (WM) and Private Banking (PB) on compliance risk management. This role involves providing FCC and Regulatory Compliance guidance. The WM Priority & PB Compliance Manager reports directly to the Head of Business Compliance in Group Compliance with dotted / matrix reporting line to the Business (Global Head of Retail Banking or his Delegate). This role is critical to ensure that a mature compliance culture is sustained to enable the effective execution within risk appetite of the segment-focused strategy across all innovation initiatives product design operational fulfilment and customer touchpoints. The Compliance Manager will monitor adherence to regulatory requirements internal policies and Compliance Risk Appetite tolerances. The position serves as a Subject Matter Expert on Wealth Management Conduct and Consumer Protection and FCC matters. Additionally this role will actively participate in the Business Risk and Control Committee WM Product Committee and other governance forums.

Key Accountabilities of the role

Financial Crime Compliance Guidance & Oversight :

Aligned with the Banks Three Lines of Defense Model the Compliance Manager will oversee the embedding of Financial Crime Compliance Policies (FCC) encompassing KYC / CDD AML CFT Sanctions and Ongoing Due Diligence across the customer life cycle.

• Regulatory Advisory & Market Conduct : Provide advisory support on SCA regulations and other regulations relevant to WM business such as regulations issued by the Central Bank of the UAE (CBUAE). Act as the principal contact for regulatory guidance for WM business. Understand and convey regulatory changes and their impact on the banks operations ensuring that WM business stays informed and compliant.
• Surveillance : Conduct periodic review of the business-related activities identifying and highlighting potential regulatory compliance gaps and risks to be addressed including any conflicts of interest.
• Policies Products and Initiatives : Review new investment products from a Compliance perspective including funds and structured products. Review new investment agreements and opportunities.Act as a point of contact from GCD for the WM product review process by assessing regulatory requirements and the impact of proposed new products and services to ensure that product launch is smooth and successful.Support in applying compliance related policies across WM business units and update in response to regulatory changes.
• Regulatory Engagements : Interact with the Securities and Commodities Authority (SCA) on a day-to-day basis resolve any licensing requirements with the regulator.Assist WM business during examinations from regulatory authorities (i.e. CBUAE and SCA) in obtaining approvals / no-objections from regulatory authorities and act as a point of contact for ADIB in the Banks interactions with CBUAE and SCA for WM businesses.
• Remediation Guidance : Advise WM business units in formulating their remediation action plan for regulatory RCSA internal / external audit issues related to compliance.
• Compliance Incident Management : Provide support in the response to compliance incidents including investigations remediation and reporting. Ensure that lessons learned are integrated into future compliance strategies.
• Training and Awareness : To be part of the team providing the ongoing training and development of people and support delivery training programs tailored to the needs of different WM business units for conduct and regulatory compliance perspective.
• Reporting : Support development and implementation of a comprehensive reporting mechanism for WM business for specific compliance matters in coordination with the RAU and FCC.
• Escalations : Ensure that the Head of Business Compliance is well informed of critical business units advisories initiatives escalations and issues.
• Shariah Compliance : Maintaining a constructive and effective relationship with Group Internal Shariah Control Department as and when required.
• Other : Any other special task / assignment assigned by the Head of Business Compliance.

Education experience and qualifications :

Specialist Skills / Technical Knowledge Required for this role :

Specific Responsibility Areas (Non- Business Lines) Required for this role :

Required Experience :

Manager

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