Role: Global Head of Regulatory Affairs
Department: Group Compliance Department (GCD)
Function: Regulatory Affairs
Location: ADIB HO
The Global Head of Regulatory Affairs is responsible for overseeing all aspects of regulatory policies and ensuring a proactive identification of relevant regulations impacting the ADIB Group (including branches, subsidiaries, and international locations). The Global Head of Regulatory Affairs is responsible for monitoring and reporting the implementation status of the key regulatory requirements and projects for the ADIB Group. The Global Head of Regulatory Affairs is also responsible for maintaining the regulatory relationship by overseeing external regulatory reporting matters and examination and supporting the ADIB Group in fulfilling its regulatory obligations relating to business conduct.
Line Manager: Group Head of Compliance
Key accountabilities / responsibilities
o Ensure effective implementation of the Group's Compliance strategy within the Regulatory Affairs team's remit to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.
o Set and approve the core competencies of Regulatory Affairs and Subsidiaries Compliance Officers roles.
o Manage and lead the Regulatory Affairs team by setting individual objectives, managing performance, developing and motivating staff to maximise performance.
o Support the Compliance Governance & Assurance function by acting as an SME on developing and delivering Regulatory Compliance related training.
o Provide guidance and on the job training for junior colleagues and conduct knowledge sharing sessions.
o Identify Regulatory Affairs team resource shortfalls against the GCD's capacity plan.
o Act as a role model to direct and indirect reports to drive adherence to organisational values and ethics and foster a value-driven culture within the Group.
Budgeting and Financial Planning
o Prepare and recommend the Regulatory Affairs team's budget to Global Head of Compliance and monitor adherence to budget, while ensuring all sectional activities are conducted in line with the approved guidelines.
Policies and Procedures:
o Ensure Group Regulatory Affairs and Ethical Conduct related policies and procedures remain updated, relevant, and communicated to all stakeholders.
o Oversee the Group's compliance with Regulatory Affairs and Ethical Conduct related policies, procedures, and processes.
o Contribute as a thought-leader to evaluate and refine Regulatory Affairs and Ethical Conduct related policies, procedures, and processes form a compliance perspective and implement best practices at a Group level.
o Oversee the development of the Regulatory Affairs framework based on best practices and in line with local and international laws and regulations.
o Attend industry or other external events relating to regulatory compliance as appropriate to keep abreast of recent developments and best practices and assess its impact on ADIB.
o Provide SME guidance on the regulatory matters such as communication of new regulations, amendments to existing regulations, guidance on the application of specific regulations, interpretation of complex regulations, etc.
o Monitor compliance with applicable regulatory requirements for ADIB Group by obtaining self-certification from the Business units.
o Identify new and emerging risks from business and regulatory developments and assess their impact on the ADIB's Business units.
o Monitor key regulatory compliance risks across the Group and support the Business Compliance team to manage those risks.
o Act as the point of contact between regulators, law enforcement, and ADIB.
o Together with Group Risk, provide support to ensure the Bank is prepared for regulatory inspections and onsite visits.
o Collaborate with and assist the Group Head of Compliance, Global Head of FCC, Global Head of Business Compliance, and Global Head of Compliance Governance & Assurance to liaise with Regulatory Authorities on regulatory issues and manage relationships.
o Oversee the maintenance and update of the centralized regulatory obligations repository in GRC in line with new regulations/amendments.
o Own Regulatory Compliance GRC module, including the review and sign off on business requirements, system implementation, operation, and validation.
o Oversee the FATCA and CRS compliance program and ensures that ADIB complies with regulatory requirements related to FATCA and CRS.
o Oversee the preparation and maintenance of the regulatory returns/reporting calendar and monitor adherence to defined due dates.
o Oversee the implementation of Conflicts of Interest, Whistle-blowing, Insider Trading, Personal Account Dealing, Outside Business Interest, Gifts & Entertainment, and Chinese Walls processes across the Group.
o Review product programs, procedures, processes as required, and provide advice from the Regulatory Compliance perspective.
o Develop the Group-wide Regulatory Compliance Risk Assessment framework and oversee the implementation of controls to ensure Group's compliance with key regulatory obligations.
o Establish the guidelines for managing relationships with Regulatory Authorities.
o Actively build relationships with regulators across ADIB jurisdictions.
o Assist international branches and subsidiaries by providing support and oversight in managing regulatory relationships together with IBG Compliance Head.
o Develop, drive, and implement the communication strategy with international branches and subsidiaries in respect of regulatory matters.
o Act as an SME to support and assist the Compliance Monitoring, Assurance and Testing (CMAT) team in the development of CMAT plans.
o Lead/participate in relevant Regulatory Affairs related projects as per the project guidelines set by the Compliance Governance & Assurance Department.
o Oversee remediation of gaps identified in RCSA, internal/external audits, regulator's supervisory audits related to Regulatory Affairs.
o Ensure that the Group Board and Management Committees, Group Head of Compliance, and the Group's Senior Management are well informed of critical regulatory compliance plans, initiatives, and issues/violations.
o Ensure results of Regulatory Compliance Risk Assessment are reported and discussed at appropriate forums.
o Ensure material non-compliances/breaches with the Regulatory Compliance as well as Ethical Conduct policies, processes, and procedures are reported to Senior Management and relevant Committees.