Associate Director, Financial Crime Risk, Supervision
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Key skills for this role
About the Role
The Dubai Financial Services Authority (DFSA) seeks an Associate Director in Financial Crime Risk to execute the team's work plan, oversee regulatory projects, and provide technical guidance.
Key Skills for This Role
Responsibilities
- Execute the Financial Crime Risk Team’s work plan, ensuring a risk based, proportionate and efficient approach to supervisory activities
- Oversee assigned regulatory projects related to financial crime risk and relevant business models within the team and across the DFSA
- Act as a technical expert in financial crime risk and provide internal trainings as needed
- Provide guidance to the team in all aspects of financial crime risk for regulated entities
- Support DFSA Divisions by providing guidance in financial crime risk in line with DFSA’s objectives
- Monitor developments in relevant international and regional regulatory standards and financial services industry
- Contribute to DFSA wide and Supervision Division wide strategic direction, business planning and policy formation
- Participate in the development and implementation of supervision strategy for the team
- Ensure DFSA wide projects relevant to the role are completed effectively, on time and within budget
- Manage and support the effective achievement of objectives through setting individual objectives, managing performance, developing and motivating staff
- Support the professional development programs of the DFSA
- Effectively lead the team in the absence of the Director when requested
Requirements
- Bachelor’s degree in a relevant field such as Business, Finance, Accounting, Risk Management or Economics; post graduate degree advantageous
- Evidence of continuing professional education relevant to target position
- Professional qualifications such as ACAMS, CFA, FRM, PRM considered a plus
- 10+ years of regulatory, compliance or risk management experience required in a broadly equivalent financial services regulator and/or a regulated entity
- Minimum of 2 years in managerial/supervisory roles desirable
- Experience in dealing with financial services regulators, standard setters and members of Board of Directors and senior executives
- Preferably experience in the development and implementation of regulatory standards and policy analysis
- Experience of country self assessments against FATF 40 recommendations; national risk assessments; involvement with FATF mutual evaluation considered an advantage
- Strong and up to date knowledge and technical expertise in financial services regulations and international standard setters
- Robust understanding of the responsibilities/role of the regulator and risk based regulation
- In depth knowledge of the financial services industry and its unique characteristics
- Deep understanding of current and emerging risk management trends/issues
Full Job Posting
Role
- An Associate Director in Financial Crime Risk in Supervision is responsible for executing the Financial Crime Risk Team’s work plan. The Associate Director must ensure that a risk based, proportionate and efficient approach is maintained towards all the team’s supervisory activities.
- An Associate Director is expected to oversee assigned regulatory projects related to financial crime risk and relevant business model within the team, across the Supervision Department and the DFSA, as well as supporting on related policy work.
Key Responsibilities
- Act as a technical expert in respective risk area and provide internal trainings as needed.
- Provide guidance to the team in all aspects of financial crime risk for regulated entities.
- Support DFSA Divisions by providing guidance in all aspects of financial crime risk.
- Monitor developments in relevant international and regional regulatory standards and in the financial services industry.
- Contribute to DFSA wide and Supervision Division wide strategic direction, business planning and policy formation.
- Participate in the development and implementation of supervision strategy for the team.
- Ensure DFSA wide projects as captured in the Business Plan relevant to the AD are completed effectively, on time and within budget.
- Manage and support the effective achievement of objectives through setting individual objectives, managing performance, developing and motivating staff.
- Ensure key performance indicators, performance reviews, leave approvals and timesheets are completed accurately and timely.
- Support the professional development programs of the DFSA.
- When requested, effectively lead the team in the absence of the Director.
Educational Background
- Bachelor’s degree in a relevant field such as Business, Finance, Accounting, Risk Management or Economics. A post graduate degree in similar fields would be considered as an advantage.
- Evidence of continuing professional education relevant to target position.
- Professional qualifications in finance, risk management, quantitative analysis, etc. such as ACAMS, CFA, FRM, PRM, etc. would be considered as a plus.
Professional Experience
- 10+ years of regulatory, compliance or risk management experience required in a broadly equivalent financial services regulator and/or a regulated entity, with a minimum of 2 years in managerial/supervisory roles being desirable.
- Experience in dealing with financial services regulators, standard setters and members of Board of Directors and senior executives.
- Preferably experience in the development and implementation of regulatory standards and policy analysis.
- Experience of country self assessments against the Financial Action Task Force (FATF) 40 recommendations; national risk assessments; and involvement with a FATF country mutual evaluation would be considered an advantage.
Knowledge, Skills & Attributes
- Strong and up to date knowledge and technical expertise in dealing with financial services regulations and relevant international standard setters.
- Robust understanding of the responsibilities/role of the regulator and of what it means to be a risk based regulator.
- An in depth knowledge of the financial services industry and its unique characteristics with proven technical knowledge and understanding of the key risks in the sector.
- Deep understanding of current and emerging risk management trends/issues.
- Appreciation of the unique features of the regulatory regime in the DIFC and understanding of the nature of the financial service activities offered by Authorised Firms operating in the DIFC.
- Strategic vision, strong analytical thinking and creativity; capacity to clearly articulate options and trade offs and ability to apply judgment.
- Influential skills and ability to lead meetings and deliver difficult messages, when necessary.
- Excellent people leadership, planning, organisation and time management skills embodied in a professional, diplomatic and ethical attitude.
- Excellent communication and presentation skills, with proven ability to address senior executives.
- Strong stakeholder management skills, including ability to engage effectively and confidently with international counterparts.
- Capacity to deliver high quality work to demanding timescales.
- Be able to work flexibility, autonomously, and co operatively in a collaborative team environment.
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