Description:
The Financial Services Regulatory Authority (FSRA) is responsible for the regulation of financial services providers in Abu Dhabi Global Market (ADGM) and for the regulation of related activities.
The Specialist - Policy is to assist the Director – Policy and other team members in the following areas, including through the provision of high-quality policy advice and other services to all departments of the FSRA and, where necessary, ADGM more widely.
- Identifying and implementing policy initiatives relevant to the development and maintenance of the regulatory framework of the FSRA in line with international standards set by bodies including the BCBS, IOSCO, the IAIS and FATF.
- Providing advisory services in order to enable other divisions of the FSRA to achieve the objectives of the FSRA and ADGM.
- Supporting the growth and development of key sectors in ADGM through policy and legislative initiatives including the following.
- Asset Management;
- FinTech, RegTech and SupTech;
- Private Banking and Wealth Management;
- Market Infrastructure and Digital Assets; and
- Sustainable Finance.
- Reviewing and providing feedback to legislation enacted by other local and federal regulatory and government authorities including the CBUAE, SCA and the MoF.
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.
- Provide other divisions in the FSRA with timely, high quality and consistent advisory services in order to enable the FSRA to achieve its objectives and those of the ADGM through the following.
- In conjunction with the Legal team consider and where appropriate help to develop responses to policy queries and interpretation requests from internal and external stakeholders.
- Peer reviewing materials produced by the team, the division and other areas of the FSRA and ADGM.
- Maintaining and periodically reviewing the legal advices database for new queries.
- Contribute to the legislative drafting process for both improvements to the current FSRA legislative framework and any new legislative initiatives as well as any other associated legislation where relevant to the FSRA and the broader ADGM.
- Support public consultations with respect to legislative changes proposed by the FSRA by drafting consultation papers and representing the FSRA in engagements with stakeholders as part of the consultation process.
- Provide scrutiny of materials and feedback for policy and internal governance committees and other advisory committees where required.
- Monitor and seek to improve the internal processes and procedures of the team, the division and, where required to do so, the FSRA.
- Where required by the Director, facilitate relationships with external stakeholders, including international regulators, market participants and any other relevant stakeholders.
- Where appropriate, participate in national and international forums with regulatory bodies to consult on policy and legislative matters relating to financial services and its regulation.
- Assist efforts to improve the internal processes and procedures of the team, the division and, where required to do so, the FSRA.
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.
- Confidentiality, Integrity and availability of the ADGM Information shall be maintained at all times i.e. within as well as outside ADGM.
Education
- Bachelors / Masters degree
Work Experience
Essential
- Minimum of 4-6 years of experience in the field or other relevant ones.
- Ability to contribute to the creation and implementation of regulatory policies.
- Strong internal and external stakeholder management skills, including excellent influencing and negotiation skills.
- Ability to exercise judgement on the relative importance of competing issues, as part of a multi-disciplinary team including policy specialists, lawyers, supervisors.
- Ability to work independently with little or no supervision, including taking the initiative where appropriate.
- Excellent written and oral communication skills to translate complex ideas into plain language for others at all levels of the FSRA, other ADGM authorities and external stakeholders.
- Fluent in business English.