Job closed
Ref: HP905-509
Job description / Role
Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.
CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.
As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.
Job Purpose:
The purpose of the job is to carry end-to-end responsibility for all Conduct and Regulatory matters related to consumer protection. Responsibility extends to providing support and working across first, second and third line of defense to ensure long-term business sustainability.
Principal Accountabilities:
Work in the capacity of a Subject Matter Expert on Regulatory risk and Conduct queries from across the Business and Support Units, with a focus on positive customer outcome coupled with regulatory compliance
Regular monitoring of the Consumer complaints report, including but not limited to conduct related complaints, grievances via CBUAE, process inefficiencies etc.
Management of Conflict of Interest and embedding positive conduct risk culture throughout the business
Keep abreast of market practices and develop policies and processes to prevent market abuse
Contribute to the new product and/or service development processes, ensuring rational balance between customer experience and business requirements of the bank
Work with teams across the Compliance function to develop the depth of knowledge and skillset required in the capacity of second line and contribute towards shared priorities of the Department.
Develop, Implement, and Supervise Conduct Risk Management Framework of the bank
Identify, assess, and monitor conduct risk in CBD's (incl but not limited to) policies, procedures, products, services, and processes
Design and execute Conduct Risk Mitigation plans
Ensure Conduct risk training and awareness is imparted to all staff in a periodic and timely manner
Keep abreast of the current regulatory developments and ensure CBD's practice align with the obligatory requirements.
Develop and analyze Management Information (MI) as required by internal and external stakeholders
Conduct and review internal policy, processes, and documents on an ad-hoc/periodic basis.
Work in the capacity of a Subject Matter Expert on regulatory risk and conduct queries from across the business and support units, with a focus on positive customer outcome and regulatory compliance.
Report and monitor regulatory breaches and/or deviation in the process and ensure resolution of such deviations/discrepancies or breaches.
Monitor and ensure relevant units adhere to the requirements as per internal policy and guidelines
Act in the capacity of a risk representative on key Regulatory Change projects, providing advice, support, guidance, and challenge as required
Provide timely administrative and project support to Head of Regulatory Compliance as required
Provide support to the Acting/Chief Compliance officer and assist in the development of all necessary policies & procedures, reconciliation, and quality control standards to achieve the targets of the Department and strategic goals of CBD.
Requirements
Education and Experience:
Bachelor's degree or equivalent in Finance & Administration
At least 10 years of banking experience with focus on business process, products, procedures, operations compliance, and thorough understanding of consumer protection regulation issued by CBUAE
Knowledge of the Retail Banking Products, Policies and Services across channels
Strong interpersonal skills with the ability to communicate with impact, build healthy professional connections, influence outcomes, simplify complex topics into actionable recommendations for decision-making.
About the Company
In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.
By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.
Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.