Section Head - Abu Dhabi, United Arab Emirates - Financial Services Regulatory Authority

Description

Job Summary: The ADGM Registration Authority's (RA's) Monitoring & Enforcement (M&E) Division is responsible for monitoring compliance with and, where necessary, enforcing ADGM's commercial legislation. ADGM's commercial legislation includes the (non-financial) regulations and rules governing the incorporation, registration, commercial licensing, and operation of firms in the ADGM.

The Division'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&E by leading and carrying out the duties and functions that contribute to achieving the RA's regulatory objectives through investigations and enforcement actions.

The Section Head reports directly to the Associate Director, Enforcement and works closely with M&E as well as other RA Divisions, other ADGM authorities and related stakeholders.

Operational Responsibilities:

•    Work with the Associate Director to develop and propose 'M&E's enforcement strategy and operational plans 

•    Ensure the effective delivery of the RA's enforcement strategy, in accordance with the yearly operational plan.

•    Manage the on-going monitoring of the effectiveness and quality of Enforcement's engagement, selection and assessment of enforcement cases that the Enforcement team is responsible for. 

•    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.

•    Oversee, lead and conduct independent investigations and gather all required information to support analysis based and objective decision making and recommendations. 

•    Oversee, manage and advise on the assessments and investigations carried out by direct reports.

•    Maintain own records and ensure all direct report's records of all cases, including actions taken, are complete, accurate, accessible, while maintaining confidentiality. 

•    Ensure that the Section Head and their direct report's decision making is in accordance with the principles of natural justice and procedural fairness.

•    Oversee and ensure late beneficial ownership penalties are imposed in a timely manner and are proportionate.

•    Oversee and ensure that Registrar strike off of defunct and non-compliant legal persons is carried out in a timely manner. 

•    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. 

•    Oversee and ensure timely responses to requests for information on non-financial firms from local and international regulators. 

•    Deliver clear, precise and sound enforcement assessments and recommendations to the Associate Director.

•    Work closely with the Monitoring department (Audit, DNFBP and DLT Sections) and other RA Divisions. 

•    Work closely with the Financial Services Regulatory Authority on joint or coordinated investigations. 

•    Where required by the Associate Director, manage relationships with external stakeholders, including other enforcement bodies, regulators and any other relevant stakeholders.

•    Monitor and seek to continuously enhance and improve internal processes and procedures of the Enforcement department.

•    Work closely with RA Legal & Policy in the conduct of civil and administrative proceedings. 

•    Deliver additional tasks that may be delegated or assigned from the Executive Director, Monitoring & Enforcement.

Relationship Management:

•    Build and maintain effective supervisory stakeholder relationships within ADGM, locally and internationally. 

•    Ensure timely, accurate, open and constructive communication with licensed firms and stakeholders.

Managerial:

•    Creates an environment where team members consistently drive to improve performance

•    Manages team with full accountability for achieving overall agreed objectives

•    Manages by effectively empowering team members

•    Takes responsibility for mentoring high potential and most critical talent in their career progression

•    Reviews performance of team and addresses performance issues quickly through clear decisions

Information Security related:

•    Act in accordance with ADGM Information Security Policy. 

•    Confidentiality, Integrity and availability of the ADGM Information shall be maintained at all times i.e. within as well as outside ADGM.  

Job Qualifications & Work Experience:

•    A Bachelor's degree in a legal, financial or business discipline. 

•    A minimum 10 years' post graduate experience with a financial or corporate regulatory body or law firm, in enforcement, litigation or investigations.

•    Understanding of the public interest role of regulatory bodies.

•    Ability to conduct complex investigations and negotiations. 

•    Ability to make sound decisions, based on good judgement, analysis and evidence that are well documented.

•    Ability to manage stakeholder relationships.

•    Fluent in business English and Strong leadership skills.

•    Prior experience in a fast-paced deadline-driven operational environment.

•    Strong internal and external stakeholder management skills.

•    Excellent influencing and negotiation skills.