Urwah Admin

Abu Dhabi Global Market

<div><p>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.
</p><p>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:
</p><ul><li>Asset Management;
</li><li>New Age Finance (such as Fintech, HealthTech, Crypto and Cyper Tech);
</li><li>Traditional Finance (such as Private Banking &amp; Wealth Mgmt, M&amp;A and Treasury)
</li><li>Functional Clusters (such as Restructuring, Dispute Resolution)
</li></ul><p>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.
</p><p>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.
</p><p>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.
</p><ul><li>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
</li><li>Assist in the development and ongoing review of the policies and rules for the FSRA, in prudential, conduct and AML/CFT areas
</li><li>Respond to policy queries from internal stakeholders, market participants and other regulatory authorities, in conjunction with the Legal team as appropriate
</li><li>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
</li><li>Lead multi-disciplinary project teams working on policy initiatives across both the FSRA and, where necessary, ADGM as a whole
</li><li>Manage public consultations arising from proposed regulatory changes
</li><li>Where required, manage relationships with external stakeholders, including international regulators and market participants
</li><li>Assist in the improvement and management of processes and procedures for the Policy team and the wider Policy &amp; Legal division
</li><li>Regularly review the international financial services landscape and propose any relevant policy matters for consideration by the FSRA
</li><li>Where appropriate, participate in international forums with other regulatory bodies to consider policy matters relating to financial services and in particular financial services regulation
</li><li>Manage more junior members of the team where required
</li><li>Other potential responsibilities arising from contributing to the efficient functioning of the FSRA and ADGM as a whole
</li></ul><p><i>Information Security related
</i></p><ul><li>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
</li><li>maintain the confidentiality, integrity and availability of ADGM Information at all times, both within and outside ADGM
</li><li>A Bachelor&rsquo;s Degree or equivalent qualification
</li><li>A minimum of 10+ years of experience in working for a financial services regulator, supranational regulatory body or equivalent government body or in a relevant field in the financial services industry
</li></ul><p><i>Knowledge and skills
</i></p><ul><li>Essential
</li><li>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
</li><li>Excellent knowledge of international regulatory frameworks, e.g. Basel, IOSCO, IAIS, the EU and other jurisdictions
</li><li>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
</li><li>Fluency in business English, including the ability to summarise and present complex issues to audiences unfamiliar with them for their consideration and decision
</li><li>Ability to exercise judgement on the relative importance of competing issues, as part of a multi-disciplinary team including policy specialists, lawyers, supervisors
</li><li>Ability to work independently with little or no supervision, including taking the initiative where appropriate
</li></ul><p>Desirable
</p><ul><li>Specialist knowledge of insurance, asset management, private wealth, or wealth management and the associated regulatory frameworks
</li><li>UAE Nationals</li></ul></div>

Senior Manager - Policy

<div><p><b>Job Summary: </b>The ADGM Registration Authority&rsquo;s (RA&rsquo;s) Monitoring &amp; Enforcement (M&amp;E) Division is responsible for monitoring compliance with and, where necessary, enforcing ADGM&rsquo;s commercial legislation. ADGM&rsquo;s commercial legislation includes the (non-financial) regulations and rules governing the incorporation, registration, commercial licensing, and operation of firms in the ADGM.
<br>
The Division&rsquo;s responsibilities include assessing and/or investigating suspected and actual contraventions, as well as recommending and implementing disciplinary action where appropriate. The Section Head, Enforcement supports the Enforcement Division of M&amp;E by leading and carrying out the duties and functions that contribute to achieving the RA&rsquo;s regulatory objectives through investigations and enforcement actions.
</p><p>The Section Head reports directly to the Associate Director, Enforcement and works closely with M&amp;E as well as other RA Divisions, other ADGM authorities and related stakeholders.
</p><p><b>Operational Responsibilities:
</b></p><ul><li>Work with the Associate Director to develop and propose &rsquo;M&amp;E&rsquo;s enforcement strategy and operational plans
</li><li>Ensure the effective delivery of the RA&rsquo;s enforcement strategy, in accordance with the yearly operational plan.
</li><li>Manage the on-going monitoring of the effectiveness and quality of Enforcement&rsquo;s engagement, selection and assessment of enforcement cases that the Enforcement team is responsible for.
</li><li>Independently manage and assess Enforcement cases related to suspected contraventions of ADGM commercial legislation including but not limited to audit and corporate reporting, corporate conduct, fraudulent activities, beneficial ownership, real property, professional services and unlicensed activities.
</li><li>Oversee, lead and conduct independent investigations and gather all required information to support analysis based and objective decision making and recommendations.
</li><li>Oversee, manage and advise on the assessments and investigations carried out by direct reports.
</li><li>Maintain own records and ensure all direct report&rsquo;s records of all cases, including actions taken, are complete, accurate, accessible, while maintaining confidentiality.
</li><li>Ensure that the Section Head and their direct report&rsquo;s decision making is in accordance with the principles of natural justice and procedural fairness.
</li><li>Oversee and ensure late beneficial ownership penalties are imposed in a timely manner and are proportionate.
</li><li>Oversee and ensure that Registrar strike off of defunct and non-compliant legal persons is carried out in a timely manner.
</li><li>Ensure detailed records of all cases including warnings or penalties are maintained by the Enforcement department and ensure that they are accessible, while maintaining the confidentiality.
</li><li>Oversee and ensure timely responses to requests for information on non-financial firms from local and international regulators.
</li><li>Deliver clear, precise and sound enforcement assessments and recommendations to the Associate Director.
</li><li>Work closely with the Monitoring department (Audit, DNFBP and DLT Sections) and other RA Divisions.
</li><li>Work closely with the Financial Services Regulatory Authority on joint or coordinated investigations.
</li><li>Where required by the Associate Director, manage relationships with external stakeholders, including other enforcement bodies, regulators and any other relevant stakeholders.
</li><li>Monitor and seek to continuously enhance and improve internal processes and procedures of the Enforcement department.
</li><li>Work closely with RA Legal &amp; Policy in the conduct of civil and administrative proceedings.
</li><li>Deliver additional tasks that may be delegated or assigned from the Executive Director, Monitoring &amp; Enforcement.
</li></ul><div><b>Relationship Management:
</b><br>
<ul><li>Build and maintain effective supervisory stakeholder relationships within ADGM, locally and internationally.
</li><li>Ensure timely, accurate, open and constructive communication with licensed firms and stakeholders.
</li></ul></div><div><b>Managerial:
</b><br>
<ul><li>Creates an environment where team members consistently drive to improve performance
</li><li>Manages team with full accountability for achieving overall agreed objectives
</li><li>Manages by effectively empowering team members
</li><li>Takes responsibility for mentoring high potential and most critical talent in their career progression
</li><li>Reviews performance of team and addresses performance issues quickly through clear decisions<br>
</li></ul></div><div><br>
<b>Information Security related:
</b><br>
<ul><li>Act in accordance with ADGM Information Security Policy.
</li><li>Confidentiality, Integrity and availability of the ADGM Information shall be maintained at all times i.e. within as well as outside ADGM.<br>
</li></ul></div><div><br>
<b>Job Qualifications &amp; Work Experience:
</b><br>
<ul><li>A Bachelor&rsquo;s degree in a legal, financial or business discipline.
</li><li>A minimum 10 years&rsquo; post graduate experience with a financial or corporate regulatory body or law firm, in enforcement, litigation or investigations.
</li><li>Understanding of the public interest role of regulatory bodies.
</li><li>Ability to conduct complex investigations and negotiations.
</li><li>Ability to make sound decisions, based on good judgement, analysis and evidence that are well documented.
</li><li>Ability to manage stakeholder relationships.
</li><li>Fluent in business English and Strong leadership skills.
</li><li>Prior experience in a fast-paced deadline-driven operational environment.
</li><li>Strong internal and external stakeholder management skills.
</li><li>Excellent influencing and negotiation skills.</li></ul></div></div>

Section Head - Enforcement

<div><p>The Financial Services Regulatory Authority (&ldquo;FSRA&rdquo;) is responsible for the regulation of financial services in Abu Dhabi Global Market (ADGM) and for the regulation of related activities.
</p><p>The Legal Counsel will be part of the Legal team within the Policy &amp; Legal Division of the FSRA. This Division is responsible for:
</p><div><ul><li>Legal advisory services - in order to enable other Divisions of the FSRA to achieve the objectives of the FSRA (e.g., Authorisation, Supervision, Enforcement, International etc.) and the ADGM:
</li></ul><ul><li>Legislative services - identify and implement policy initiatives relevant to the development of the financial services legal framework of the ADGM in line with international standards set by bodies including BCBS, IOSCO, IAIS, FSB and FATF.
</li></ul><ul><li>Litigation services &ndash; support supervisory and enforcement matters including any administrative, tribunal and court matters.
</li></ul></div><p>The Policy &amp; Legal Division also provides support to other ADGM authorities and the ADGM by:
</p><div><ul><li>working closely with Registration Authority Legal team that is responsible for the development of the commercial legal framework of the ADGM;
</li></ul><ul><li>preparing relevant Board Papers and legislative changes and engaging with the ADGM Office of Legal Affairs, Governance and Compliance;
</li></ul><ul><li>reviewing and providing feedback to legislation enacted by other local and federal regulatory and government authorities including the CBUAE and the SCA and various Ministries;
</li></ul><ul><li>participating in any working groups and committees with other local and federal regulatory and government authorities, including international assessments of the UAE undertaken by the OECD, FATF and the IMF/World bank;
</li></ul><ul><li>supporting the growth and development of key sectors of the ADGM through policy and legislative initiatives.
</li></ul></div><p>While the Legal Counsel will provide legal services across the financial services sector, the FSRA is seeking individuals with experience in analysing legal aspects of emerging financial technologies (&ldquo;FinTech&rdquo;), including virtual asset service providers, smart contracts, decentralised applications and artificial intelligence.
</p><p><b>Core responsibilities
</b></p><p>Assisting the Director (Financial) in ensuring that the Policy &amp; Legal Division provides the FSRA with timely, high quality, consistent legal services to enable other Divisions to achieve the objectives of the FSRA and the ADGM including:
</p><ul><li>Conducting in-depth legal research and analysis in response to legal or policy queries and interpretation requests from internal and external stakeholders, with a focus on the crypto industry and blockchain technology.
</li><li>Leveraging relevant technical knowledge to provide sound legal advice to the operational departments of the FSRA, including Authorisation, FinTech, Supervision, Markets, Financial Crime and Enforcement
</li><li>Drafting and reviewing legal documents, including legislation, consultation papers, notices and agreements
</li><li>Managing legal projects and external outsourced legal resources
</li><li>Managing litigation for the FSRA including administrative and court matters, with a focus on tech-related litigation and regulatory matters
</li><li>Managing the legislative drafting process for enhancements to the current FSRA legislative framework, new legislative initiatives and other associated legislation and legal instruments where relevant to the FSRA and the broader ADGM
</li><li>Monitoring and seeking to improve the internal processes and procedures of the Policy &amp; Legal Division
</li><li>Raising awareness of relevant legal and regulatory developments in the FinTech space, including developments in financial services litigation.
</li></ul><p>Education
</p><ul><li>Admitted as a barrister or solicitor in a common law jurisdiction.
</li></ul><p>Work Experience
</p><p><i>Essential
</i></p><ul><li>At least 8-10 years&rsquo; post admission experience, ideally for a financial services regulator or an entity that is supervised by an internationally recognised financial services regulator
</li><li>Knowledge, skills and experience in legal and policy matters, with particular focus on regulated financial services, and a strong, substantive understanding of the FinTech industry, including blockchain technology and digital / virtual assets
</li><li>Expertise in providing focused and pragmatic legal advice on technical financial services-related matters
</li><li>Excellent communication skills, with particular strength in written communications and drafting
</li><li>Strong negotiation and presentation skills, including ability to communicate effectively both orally and in writing with others at all levels of the FSRA and other ADGM bodies
</li><li>Ability to work independently with little or no supervision
</li></ul><p><i>Desirable
</i></p><ul><li>Understanding of emerging enabling technologies (e.g., distribution ledger technology, smart contracts, decentralised technology, artificial intelligence etc.) and their impacts on financial markets
</li><li>Experience in contentious matters, regulatory investigations and financial services-related litigation.
</li><li>Policy and legislative drafting experience
</li><li>Proficient in Arabic or other language(s) and understanding of the Arabic culture.</li></ul></div>

Legal Counsel (Financial)

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Senior Manager - Policy

Section Head - Enforcement

Legal Counsel (Financial)