Regulatory Management and Oversight Specialist
Wio Bank
Date: 1 week ago
City: Abu Dhabi
Contract type: Full time
About this role:
Wio Bank is a leading one-of-a-kind financial platform that is revolutionizing the banking industry in the MENA region. Our platform is here to reboot personal and business banking in the digital age. Our personalised features and seamlessly integrated services are built around your needs, helping you spend, save, and plan for your future.
The Regulatory Management and Oversight Specialist plays a crucial part in that the bank adheres to regulatory requirements, manages compliance risks, and maintains up-to-date policies and procedures across all functions.
What you’ll be responsible for:
Wio Bank is a leading one-of-a-kind financial platform that is revolutionizing the banking industry in the MENA region. Our platform is here to reboot personal and business banking in the digital age. Our personalised features and seamlessly integrated services are built around your needs, helping you spend, save, and plan for your future.
The Regulatory Management and Oversight Specialist plays a crucial part in that the bank adheres to regulatory requirements, manages compliance risks, and maintains up-to-date policies and procedures across all functions.
What you’ll be responsible for:
- Develop and implement a comprehensive regulatory oversight framework to ensure that the bank complies with all relevant regulations and standards. Ensure the framework is regulatory reviewed and updated to reflect changes in regulatory requirements.
- Periodically review and ensure all regulatory compliance policies and procedures are up-to-date, comprehensive, and effectively implemented across the bank. Work with the Head of Regulatory Compliance to develop new policies as needed.
- Conduct the regular compliance risk assessments conducted to identify and evaluate regulatory risks. Develop and implement strategies to mitigate identified risks and ensure continuous compliance with regulatory requirements.
- Develop and deliver training programs to educate employees on regulatory compliance requirements and best practices. Promote a culture of compliance and ethical behavior throughout the bank.
- Monitor regulatory developments and assess their impact on the bank’s operations. Advise the Head of Regulatory Compliance and senior management on necessary changes to policies, procedures, and practices to remain compliant.
- Collaborate with the internal audit team to address any findings related to regulatory compliance. Implement corrective actions and monitor progress to ensure timely resolution of issues.
- Support from a regulatory perspective the investigation of compliance-related incidents and breaches.
- Manage and update the breach register for the internal and external breach to addresses and action such a breaches to avoid fines in futures and maintain a violation register which includes violations and fines
- Manage and update the regulatory library and ensure all regulations are disseminated to the respective business and support functions for their actions, and coordinate with Business to implement regulations and review status of implementation for both new and existing regulations.
- Collaborate with other departments, including Risk, Legal, Operations, and IT, to ensure a coordinated approach to regulatory compliance. Provide guidance and support on regulatory matters to business units and senior management.
- Bachelor's degree in Finance, Business Administration, or a related field. A Master’s degree is preferred.
- Professional certifications such as ICA, CRCM, or equivalent are highly desirable.
- Minimum of 3-5 years of experience in regulatory compliance within a banking or financial services environment, with a strong focus on regulatory management and oversight. Experience in a digital banking context is advantageous.
- Strong knowledge of regulatory requirements, with the ability to interpret and apply complex regulations effectively.
- Excellent analytical and problem-solving skills, with the ability to assess regulatory risks and develop effective solutions.
- High level of integrity, attention to detail, proactive mindset, and a strong commitment to regulatory compliance.
- Strong teamwork and interpersonal skills, with the ability to influence and collaborate with senior management and various departments.
- Preferably Bilingual, fluent in English and Arabic with strong written and verbal communication skills.
- Attention to detail with the ability to manage and prioritize tasks.
- Being part of a leading one-of-a-kind financial platform that is revolutionizing the banking industry in the MENA region.
- Joining a highly performance driven culture.
- Peering with talented colleagues coming from top-tier fintech companies from all over the world.
- Work-life balance is important to us so you would have 28 working days of holidays + up to 14 national holidays per year.
- Additional perks such as top private health & life insurance, flexible working hours, hybrid work policy, and many more to come!
- Working in an international environment, with employees from over 40 different nationalities.
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