Manager- Escrow Operations

Abu Dhabi Commercial Bank; Dubai; On-site; AED 60,000 - 120,000; Full time

Job summary

A premier bank in the UAE is seeking an experienced professional to manage ESCROW Operations. The role involves overseeing the ESCROW Operations Portfolio, ensuring compliance with regulatory guidelines, and leading a team to achieve business objectives. Candidates should have at least 6 years of experience in ESCROW management and a Bachelor's Degree in a relevant field. Attractive benefits, including flexible working arrangements, are offered to align with your career ambitions.

Benefits

Comprehensive benefits package

Flexible and remote working options

Qualifications

• 6+ years of experience in managing ESCROW operations.
• Excellent knowledge of banking and accounting systems.
• Experience in managing a team in ESCROW operations.

Responsibilities

• Manage the ESCROW Operations Portfolio to achieve business targets.
• Monitor the compliance of ESCROW portfolio with regulatory guidelines.
• Establish professional relationships with regulatory authorities.

Skills

Managing ESCROW

Interacting with Regulators

Team Management

Banking and Accounting Systems Knowledge

Technical Knowledge of ESCROW Products

Education

Bachelor’s Degree in Business, Information Technology or equivalent

Job description

Embark on a journey where your unique contributions are celebrated, and your professional growth is embraced. At ADCB, we nurture a diverse, inclusive community where every voice is valued.

About the business area

ITMAM

ITMAM, a wholly-owned subsidiary, provides banking operational and processing services to all Group sectors, including lending, wealth management, and ATM services. Integrated into the Group Business Services (GBS) organizational structure, Itmam operates under its own Board of Directors, comprising Group executive staff members. Its structure includes a General Manager overseeing five key operational service divisions: Consumer Operations, Corporate & Investment Banking Operations, Customer Contact Services, Treasury and Syndication Operations, and Shared Services and Operations Management. Notably, "Tamooha," the Group’s award‑winning operations center initiative, is staffed exclusively by UAE national women.

We are actively seeking an ambitious professional to join our team at ADCB to work alongside passionate colleagues who share your ambition to redefine excellence in UAE banking.

In this role, your key responsibilities include:

• To assist in the management of the ESCROW Operations Portfolio and enable the Group Business Services (GBS) to achieve/surpass agreed ESCROW Business/revenue targets by providing superior service delivery to the customers (Large Real Estate Developers, Insurance Corporates and Asset Management companies), in order to safeguard the Bank from all risks associated with this business, especially complying with the Regulatory requirements framed by the authorities like Real Estate Regulatory Authority (RERA) and UAE Central Bank (CBUAE)
• Monitor the ESCROW Operations Portfolio namely ESCROW Payments, Offer and Acceptance (OA) accounts, Insurance ESCROW and Commercial ESCROW accounts to ensure they are in line with Regulatory and Internal guidelines, including processing of transactions and the accuracy of processing in compliance with the Bank’s policies and procedures
• Provide guidance and advice to the business to ensure accurate and timely conduct in accordance RERA, CBUAE, Insurance guidelines, Bank procedures and policies
• Establish and maintain professional relationships and connections with RERA and UAECB authorities to ensure accurate and timely conduct of ESCROW transactions
• Manage self and team in line with ADCB’s people management policies, procedures, processes and practices to ensure adherence and to maximize own and employee contribution to business performance
• Recommend and implement improvements to departmental policies, procedures and processes covering all areas of activity aligning to Regulatory guidelines so that all relevant procedural requirements are fulfilled while ensuring ADCB delivers best-in-class services, products and innovation

The ideal candidate should have the following experience:

• At least 6 years of experience in managing ESCROW
• Bachelor’s Degree in Business, Information Technology or equivalent field
• Technical knowledge of ESCROW related products
• Experience in interacting with Regulators, Developers, Insurance Corporates and Asset Management Companies
• Excellent knowledge of Banking and accounting systems of both the Bank and the Regulators
• Experience of managing a team in ESCROW Operations for a medium to large sized Bank

What we offer:

• Comprehensive Benefits Package: This includes market-leading medical insurance, group life and personal accident insurance, paid leave and leave airfare, employee preferential rates on loans and finance facilities, staff discounts and offers, and children education assistance (for certain job levels).
• Flexible and Remote Working Options: We understand the importance of work-life balance and offer flexible working arrangements, subject to eligibility and job requirements.

At ADCB, we are dedicated to creating a respectful, caring and disciplined work environment that aligns with your career ambitions.