Job Description
Job Purpose:
Develop and maintain awareness of regulations, standards, and guidance issued by the Central Bank of the UAE (CBUAE). Assist in interpreting regulatory requirements and communicating them very clearly to relevant units within the Bank to support compliance. Contribute to the Regulatory Compliance function by supporting advisory activities, assisting in monitoring regulatory gap assessments, and preparing summaries of key regulatory changes for stakeholders. Additionally, support the delivery of regulatory training and awareness initiatives to promote understanding of applicable requirements.
Key Result Areas:
- Maintain good knowledge of CBUAE regulations, standards, circulars, and relevant federal laws and directives.
- Provide support in offering regulatory guidance and clarifications to business units and support functions.
- Support the preparation and delivery of presentations on newly issued regulations and standards.
- Assist in assessing financial services activities to determine applicability of regulatory requirements.
- Support the execution and tracking of regulatory gap assessments, ensuring updates are maintained accurately.
- Identify and document differences between existing and new or updated regulations.
- Prepare summaries and basic comparative analyses of regulatory requirements for internal use.
- Assist in the dissemination of regulatory notices, circulars, and guidance to stakeholders.
- Support tracking of regulatory obligations to ensure requirements are not missed.
- Monitor progress of assigned regulatory compliance actions and escalate issues when necessary.
- Support the preparation and submission of regulatory reports (regular and ad hoc).
- Coordinate with stakeholders to gather inputs required for regulatory submissions.
- Assist in reviewing regulatory correspondence for accuracy and consistency.
- Support the maintenance and update of Regulatory Compliance policies and procedures.
- Assist in delivering regulatory training and awareness sessions.
- Provide day-to-day support to team members on regulatory matters when required.
- Assist in preparing management reports and MIS related to regulatory compliance activities.
- Support documentation of key regulatory developments and themes for internal reporting.
- Prepare summaries of CBUAE outreach sessions and meetings for internal circulation.
- Assist in Business Impact Analysis (BIA) and Business Continuity Planning (BCP) activities to support continuity of regulatory compliance function
Operating Environment, Framework and Boundaries, Working Relationships:
Regulatory Environment
Operates within a regulated environment governed by CBUAE regulations, circulars, notices, and standards, as well as relevant federal laws, decrees, and directives, with guidance from senior team members.
Regulatory Monitoring
Supports monitoring of regulatory developments, official gazette publications, international standards (e.g., FATF), and internal policy updates.
Operational Continuity
Assists in ensuring continuity of regulatory compliance activities through participation in Business Impact Analysis (BIA) and Business Continuity Planning (BCP) activities.
Internal Compliance Standards
Adheres to internal Regulatory Compliance policies, procedures, and governance requirements in day-to-day activities.
Regulatory Interpretation
Supports the provision of regulatory clarification and guidance to stakeholders, escalating complex queries where required.
Regulatory Submissions
Assists in preparing regulatory submissions and correspondence in line with internal review processes and regulatory timelines.
Internal Stakeholder Management
Builds and maintains effective working relationships with internal stakeholders, including Business Units, Risk, Compliance, and the Regulatory Compliance team.
Cross-Functional Collaboration
Coordinates with internal stakeholders to gather timely and accurate information for regulatory reporting, gap assessments, and implementation activities.
Regulator Interaction
Supports interactions with external regulators (e.g., CBUAE), primarily through preparation of inputs and documentation for submissions and responses.
Problem Solving:
- Support the analysis of new regulations, circulars, and standards to help assess their impact on the Bank.
- Assist in identifying regulatory gaps between existing practices and newly issued requirements.
- Prepare summaries and basic comparative analyses to support stakeholder understanding.
- Monitor and flag delays or issues in regulatory submissions, escalating where appropriate.
- Assist in interpreting regulations and providing advisory support to relevant stakeholders.
Decision Making Authority & Responsibility:
- Assist in providing regulatory interpretations and advisory support, along with recommendations, to business units and support functions.
- Support meetings to guide stakeholders on notices and regulations issued by the Central Bank.
- Assist in preparing the structure, format, and content of regulatory summaries, analyses, MIS, and training materials.
- Support the maintenance and update of regulatory tracking mechanisms, gap assessments, and progress reporting.
- Identify and escalate regulatory risks, delays, or compliance issues to senior team members.
- Assist in the review of regulatory submissions to ensure accuracy, completeness, and readiness for timely submission.
Knowledge, Skills and Experience:
- Bachelor's degree in Business, Commerce, Law, Economics, or a related discipline.
- Professional qualifications in compliance, risk, or regulatory disciplines are an advantage.
- 6 to 8 years of relevant experience in regulatory compliance, banking, or a related function.
- Experience supporting interactions with regulators and assisting in regulatory submissions.
- Working knowledge of UAE regulatory frameworks and exposure to applicable international standards and best practices.
- Good understanding of UAE regulatory requirements, rules, and legislation.
- Strong analytical and problem-solving skills with the ability to support sound decision-making.
- Good written and verbal communication skills in English.
- Developing presentation and stakeholder management skills.
- High attention to detail with the ability to prepare clear and concise regulatory summaries.
