Senior Manager - Market Conduct Risk - Emirati Talent

Commercial Bank International; Sharjah; On-site; AED 260,000 - 320,000; Full time

Job summary

Commercial Bank International in the UAE seeks a Senior Manager of Market Conduct Risk to establish and supervise the bank's conduct risk policy, ensure compliance with consumer protection standards, and promote a strong risk culture across all units.

The role requires 3–5 years in regulatory compliance within banking, deep knowledge of conduct risk, and the ability to implement controls, monitor misconduct, and report results to senior management and regulators.

Qualifications

• Bachelor’s degree in business, Law, Education, or a related field.
• 3–5 years of experience in regulatory compliance, controls and governance within banking.
• Strong knowledge of conduct risk and consumer protection standards.

Responsibilities

• Govern conduct risk policy development, oversight and monitoring of consumer protection.
• Review and enforce governance, conflicts of interest, and market abuse controls.
• Develop risk registers and ensure effective engagement with stakeholders.
• Monitor employee conduct and integrate it into performance evaluation.
• Track and report conduct risk metrics and governance effectiveness.

Skills

Compliance standards

Conduct risk

Consumer protection

Regulatory awareness

Data analysis

Communication skills

Education

Bachelor’s degree in business, Law, Education, or a related field

Job description

The Senior Manager of Market Conduct Risk is responsible for ensuring that the bank adheres to the UAE Central Bank's mandated oversight of conduct risk. This role focuses on developing, implementing, and monitoring the bank's conduct risk policy, ensuring compliance with consumer protection standards, and fostering a positive risk culture. The role also includes overseeing and reviewing various conduct-related risks, conflicts of interest, market abuse, and employee behavioral standards across the organization.

Duties and Responsibilities:

1.Governance and Organization:

• Ensure that the bank’s conduct risk policy is reviewed regularly by senior management in accordance with regulatory requirements.
• Define and communicate clear roles and responsibilities to operationalize consumer protection standards and conduct risk frameworks, ensuring effective governance.
• Oversee the development and enforcement of a formal code of conduct that sets behavioral standards for all employees, including disciplinary actions for breaches.
• Foster senior management support for promoting a healthy risk culture, positive conduct, and adherence to consumer protection standards.
• Ensure robust controls are in place to monitor third-party dealings and engagements, mitigating risks arising from misconduct.
• Establish, maintain, and regularly review a risk register for risks arising from misconduct across all business units.
• Collaborate with various stakeholders to ensure the bank has effective systems for managing and mitigating conduct risks.

3.Talent Management:

• Assess and enhance existing training programs on conduct risk, ensuring employees understand and comply with the conduct standards.
• Oversee that employee conduct is considered as part of the performance evaluation process.

4.Market Abuse & Integrity:

• Monitor and report instances of market abuse (such as insider trading or market manipulation) by employees or clients, ensuring proper remedial actions are taken.
• Develop and maintain processes to assess and manage market abuse risks associated with the bank’s customers.

5.Conflicts of Interest:

• Ensure the bank's conflict of interest policy is comprehensive, covering conflicts between:
  • Customers and the bank
  • Employees and the bank
  • Two or more customers
• Monitor and address potential conflicts of interest, ensuring transparency and fair treatment of all parties.

6.Culture and People:

• Collaborate with product development and marketing teams to ensure the suitability and appropriateness of products and services for the bank’s customers.
• Monitor and improve the bank’s complaint resolution process, ensuring timely and efficient resolution of customer complaints.

7.Metrics and Monitoring:

• Track and report annual average losses as a percentage of net profit resulting from conduct risk events.
• Collaborate with senior management and the board to ensure that risks arising from the introduction of new products are adequately assessed, including conducting value-for-money analysis.

8.Specialized Risk Areas:

• Collusion Risk: Identify and mitigate risks of collusion between parties aimed at manipulating market conditions.
• Consumer Mobility Risk: Oversee risks related to consumer ease in switching providers.
• Cooling Off Risk: Ensure customers are provided with adequate cooling-off periods.
• Sales, Marketing, Advertising, and Promotional Risk: Monitor risks associated with these activities, ensuring compliance with regulatory requirements.
• Solicitation Risk: Manage risks associated with solicitation practices within the institution.

Education:

• Bachelor’s degree in business, Law, Education, or a related field.

Experience:

• 3-5 years of experience in regulatory compliance, Controls and Governance, within the banking industry.

Other Skills Required for the Job:

• Deep knowledge of compliance standards, particularly those related to conduct risk and consumer protection.
• Knowledge of how conduct risk intersects with operational risk and the ability to implement effective control measures.
• Strong skills in analyzing data related to conduct risk incidents, customer complaints, and market abuse, and developing appropriate mitigation strategies.
• Excellent communication skills to engage with internal stakeholders (senior management, business units) and external bodies (regulators, auditors) regarding conduct risk issues.