Job closed
Ref: LP452-284
Job description / Role
Support the escrow management function under cash management by ensuring that internal bank policies and procedures in conjunction with the escrow regulations are put in best practice to support the real estate and commercial escrow account business expansion.
• Ability to negotiate escrow documentation and work with internal & external legal representatives
• Work across departmental lines to create client solutions across Escrow & OA. Ensure compliance with ADCB KYC policy
• Ensure resolution of all regulatory requirements within a timely & accurate manner through effective & efficient use of bank resources
• Control reconcile and accurate reporting to regulatory agency (RERA) for the escrow monthly report
• Control and ensure owners association documentation is maintained and updated at all times.
• Ensure timely completion of reconciliations and ensure exception reports are maintained.
• Ensure data capturing of all accounts are moved onto escrow system and all data recording is available on the system.
• Highlight issues of non compliant developers to the management.
• Assist in closing deals and market the product and ADCB capabilities across the UAE.
• Identify and present insightful ideas and solutions to convert prospects to clients.
• Assist the sales team in closing deals; actively manage and deepen client relationships.
• Create product concept and justification document/business case to support the required developments and enhancements in escrow & OA. This will cover feasibility of new products and a cost-benefit analysis clearly demonstrating source of revenue. Present business case for approval
• Co-ordinate with ADCE on a constant basis to ensure smooth and seamless flow of work across the unit and also streamline current payment activities.
• Create brief for Marketing Department for development and production of sales and marketing materials
• Consult concerned units and draft operating procedures for each product and present to the OQC Department for review and approval
• Control and ensure compliance with the Owners association product and track all changes to the account structure.
• Control and ensure proper MIS is maintained for the Owners Association and inflows / payments are tracked and reconciled at all times.
• Ensure payments made for Owners Association are within the approved guidelines.
• Co-ordinate with RERA for product clarifications, guidance, approvals.
• Follow up meetings with clients and ensure requirements are fulfilled.
• Track new accounts and ensure profitability of the product is maintained.
Requirements
Experience and Qualifications:
Minimum Education Level:
Bachelors degree / preferably MIS related
Experience:
(indicate years of experience required for the role as well)
3- 5 years in banking
IT knowledge preferred
About the Company
ADCB is a full-service commercial bank offering a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate and currency derivatives, Islamic products, project finance, and property management services.