WM, Priority and PBG Compliance Manager

ADIB - Abu Dhabi Islamic Bank; Abu Dhabi; On-site; AED 200,000 - 300,000; Full time

Job summary

A leading Islamic bank in Abu Dhabi is seeking an experienced Compliance Manager to oversee compliance risk management for the wealth management division. The ideal candidate will have a minimum of 8 years in compliance roles within banking, including 3 years in wealth management, and deep knowledge of relevant regulations. This role includes providing guidance on financial crime compliance and participating in regulatory engagements. Competitive compensation package offered.

Qualifications

• Minimum of 8 years of compliance experience in banking, with 3 years in wealth management.
• Deep understanding of SCA and CBUAE regulations.
• Extensive knowledge of WM Islamic Banking products.

Responsibilities

• Provide regulatory advisory and market conduct support for WM business.
• Conduct reviews to identify compliance gaps and risks.
• Engage with regulators for approvals and compliance inquiries.
• Advise on remediation action plans related to compliance.

Skills

Stakeholder management

Communication

Analytical skills

Problem-solving

Regulatory knowledge

Education

Bachelor's degree in finance, law, business administration, or related field

Job description

WM, Priority and PBGpliance Manager Job Description

Role : XX

Location : XX

Role Purpose :

The Wealth Management, Priority & Private Bankingpliance Manager is responsible for supporting ADIB's Retail Banking Priority Banking, Wealth Management Business (WM), and Private Banking (PB) onpliance risk management. This role involves providing FCC and Regulatorypliance guidance. The WM, Priority & PBpliance Manager reports directly to the Head of Businesspliance in Grouppliance with a dotted/matrix reporting line to the Business (Global Head of Retail Banking or his Delegate). This role is critical to ensure that a maturepliance culture is sustained to enable the effective execution within risk appetite of the segment-focused strategy across all innovation initiatives, product design, operational fulfilment, and customer touchpoints. Thepliance Manager will monitor adherence to regulatory requirements, internal policies, andpliance Risk Appetite tolerances. The position serves as a Subject Matter Expert on Wealth Management, Conduct, and Consumer Protection and FCC matters. Additionally, this role will actively participate in the Business Risk and Control Committees, WM Product Committees, and other governance forums.

Key Accountabilities of the role

Financial Crimepliance Guidance & Oversight :

Aligned with the Bank's Three Lines of Defense Model, thepliance Manager will oversee the embedding of Financial Crimepliance Policies (FCC) encompassing KYC / CDD, AML, CFT, Sanctions, and Ongoing Due Diligence across the customer lifecycle.

• Regulatory Advisory & Market Conduct : Provide advisory support on SCA regulations and other regulations relevant to WM business, such as regulations issued by the Central Bank of the UAE (CBUAE). Act as the principal contact for regulatory guidance for WM business. Understand and convey regulatory changes and their impact on the bank's operations, ensuring that WM business stays informed and compliant.
• Surveillance : Conduct periodic reviews of business-related activities, identifying and highlighting potential regulatory compliance gaps and risks to be addressed, including any conflicts of interest.
• Policies, Products, and Initiatives : Review new investment products from a compliance perspective, including funds and structured products. Review new investment agreements and opportunities. Act as a point of contact from GCD for the WM product review process by assessing regulatory requirements and the impact of proposed new products and services to ensure smooth and successful product launches. Support the application of compliance-related policies across WM business units and update them in response to regulatory changes.
• Regulatory Engagements : Interact with the Securities and Commodities Authority (SCA) on a day-to-day basis, resolve licensing requirements with the regulator. Assist WM business during examinations from regulatory authorities (CBUAE and SCA), in obtaining approvals/no-objections from regulatory authorities, and act as a contact point for ADIB in interactions with CBUAE and SCA for WM businesses.
• Remediation Guidance : Advise WM business units in formulating remediation action plans for regulatory, RCSA, internal/external audit issues related to compliance.
• Support in responding to compliance incidents, including investigations, remediation, and reporting. Ensure lessons learned are integrated into future compliance strategies.
• Training and Awareness : Participate in providing ongoing training and development for staff, supporting delivery of training programs tailored to different WM business units for conduct and regulatory compliance.
• Reporting : Support the development and implementation of comprehensive reporting mechanisms for WM compliance matters in coordination with the RAU and FCC.
• Escalations : Keep the Head of Business Compliance well informed of critical advisories, initiatives, escalations, and issues.
• Shari'ah Compliance : Maintain a constructive and effective relationship with the Group Internal Shari'ah Control Department, as required.
• Other : Perform any other tasks or assignments as directed by the Head of Business Compliance.

Education, experience, and qualifications :

• Minimum of 8 years of experience in compliance roles within the banking industry, with at least 3 years related to wealth management business.
• Bachelor's degree in finance, law, business administration, or a related field.
• Deep knowledge of SCA and CBUAE regulations relevant to WM business.
• Extensive familiarity with WM Islamic Banking products.
• Good stakeholder management skills, with excellent communication and the ability to challenge effectively.
• Ability to work with regulatory authorities in an open and cooperative manner.
• Ability to challenge the First Line of Defense on compliance-related matters applicable to ADIB.
• Strong analytical, problem-solving, and presentation skills.

Specialist Skills / Technical Knowledge Required for this role :

Specific Responsibility Areas (Non-Business Lines) Required for this role :

• Regulatory Authorities (CBUAE and SCA)
• Managed Services
• Group Credit Management
• Marketing
• Correspondent Banking Relationships
• Financial Market Infrastructure (FMI) providers / Global securities settlement houses, Allfunds, Euroclear

Job ID 300002462420085

Compliance Manager • Abu Dhabi, United Arab Emirates