Senior Manager - Authorisation

Job Description

The Financial Services Regulatory Authority (FSRA) is responsible for the regulation of financial services and related activities within Abu Dhabi Global Market (ADGM).

The Authorisation Department of the FSRA is responsible for:

• the licensing of financial services firms (excluding markets and trading venues) to carry on regulated activities under the Financial Services and Markets Regulations in ADGM, with the objective of upholding industry standards, promoting sound and fair dealing financial institutions and protecting investor interests;
• the approval or recognition of individuals for fitness and propriety in performing controlled functions under FSRA’s regulations;
• supporting the development and implementation of related regulatory policies, legislative frameworks and supervisory capabilities in co-ordination with the Policy & Legal Division and the Supervision Division.
  
  

The Senior Manager – Authorisation is responsible for leading the review and evaluation of licensing applications in co-ordination with the Fintech Department, ensuring that the process is conducted in line with internal procedures and operational performance standards of FSRA.

• Lead the processing and evaluation of FSP applications in accordance with FSRA’s regulatory requirements, and operational performance standards.
• Perform risk assessments to identify areas of supervisory concerns in relation to business models of applicants and develop mitigation plans accordingly.
• Manage issues or complaints from market participants related to the authorisation process.
• Assist in the planning and execution of strategic initiatives / projects within the Department.
• Assist in managing and overseeing resources, work plan and budget within the Department.
• Formulate and review regulatory policies, rules and processes pertaining to the authorisation of financial services firms to ensure they keep pace with industry and international developments.
• Build and manage relationships with market participants / stakeholders and peer regulators (e.g. at IOSCO meetings, industry roundtables), to establish strong reputational influence and standing in those communities in order to achieve FSRA’s regulatory objectives.
• Lead projects / work streams / reviews to enhance operational excellence, efficiency and effectiveness.
• Liaise with the ADGM Markets Development team and participate in early applicant engagement.
• Liaise with the Supervision Division to ensure a smooth and proper handover authorised firms to be supervised.
• Deliver additional tasks that may be delegated from the Line Manager.
  
  

Managerial

• Creates an environment where team members consistently drive to improve performance.
• Manages team with full accountability for achieving overall agreed objectives.
• Manages by effectively empowering team members.
• Takes responsibility for mentoring high potential and most critical talent in their career progression.
• Reviews performance of team and addresses performance issues quickly through clear decisions.
  
  

Information Security related

• Understand, adopt, adhere and practice responsibilities or controls as per ADGM Information Security policy and as per best practices explained in the induction and awareness sessions.
• Confidentiality, Integrity and availability of the ADGM Information shall be maintained at all times i.e. within as well as outside ADGM.
  
  

About Us

The FSRA was established to advocate a progressive financial services environment and uphold the integrity of ADGM. The FSRA’s policies are aligned with internationally recognised standards and ensure that financial entities operate with certainty, market participants thrive in an equal level-playing environment, and the interests of investors are safeguarded.

About The Team

Abu Dhabi Global Market is an award-winning international financial centre strategically located in the capital of the United Arab Emirates.

Established by UAE Federal Decree, ADGM’s jurisdiction extends across the entire 114 hectares of Al Maryah Island.

ADGM's three independent authorities - the Registration Authority (RA), the Financial Services Regulatory Authority (FSRA) and ADGM Courts - together ensure that its business-friendly environment operates in line with international best practices, recognised by major financial centres worldwide.