Job description / Role
Job Purpose:This is a key Consumer protection implementation and management role to support the bank in developing, monitoring and tracking adherence to CBUAE Consumer Protection Regulation and Standards. This role would encompass coordination and follow-up regarding changes in System, Policies, SOPs and management frameworks across all business segments and channels in PBG on an ongoing basis
Consumer Protection - Implementation
- Drive the implementation of Consumer Protection Standard within defined timeframes by UAE Central Bank and meet all required timelines
- Track and follow-up with all the stakeholders on gap-assessment and solution in order for compliance to the regulatory standards
- Assist in preparation of management action plan and timeline for monitoring and implementation all Groups / Segments.
- Support in publishing timely and complete monitoring update pack for senior stakeholders covering all broad aspects of the Consumer Protection Regulation.
- Support the implementation plan - covering all products and service areas defined within the Consumer Protection Regulation and Standards
- Identify gaps within existing products, policies and process in comparison to the Consumer Protection Standards - engage necessary stakeholders to eliminate Risks to the implementation timelines by mitigation of identified threats during the project as well as in BAU
- To provide focused, quality updates in order to support Management to take decisions in the right strategic direction
- Assist the Head of Department in conducting the periodic Consumer Protection Steering Committee meetings by preparing latest MIS, obtaining Compliance status, Breaches etc
Consumer Protection - Ongoing Compliance:
- Support the Head of Customer Engagement in reviewing Policies and Procedures based on Consumer Protection and other regulatory guidelines and/or observations from Internal Audit, Compliance and Regulators etc.
- Responsible to take care of ad hoc bank-wide regulatory exercises pertaining to Consumer Protection.
- Be a role model for Customer First and other initiatives launched under the leadership of the Chief Customer Officer and Head of Customer Engagement
- Assist the business teams and front-end Channels (including Branches), with the objective of resolving procedural and operational issues that may arise at any time pertaining to Consumer Protection.
Quality & Control:
- Publishing of required project status updates and highlighting key areas of concern in management reviews at various forums including Consumer Protection Steering Committee
- Involve in critical analysis of approach and interpretation of CPR for solutions and planning
- Ongoing basis, identify weaknesses and implement control checks with support from relevant stakeholders to ensure no deviation from standards prescribed
Education and Experience
- Graduate, preferably with Finance background
- At least 12 years of banking experience spanning across business process, products, procedures, operations, compliance, risk and understanding of consumer protection regulation of CBUAE.
- Knowledge of the Retail Banking Products, Policies and Services across channels including branches, digital, contact centre and ATM
- Strong stakeholder management, communication, drive and interpersonal & negotiation skills required
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.
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