Senior Manager, Innovation & Technology Risk, Supervision

About This Role

The Senior Manager Innovation and Technology Risk (ITR), Supervision will be responsible for the supervision of the individual Fintech Authorised Firms and potentially any ITL managed firms within ITR, Supervision. .

A Senior Manager will be expected to spend the majority of their time dealing with allocated work streams of regulated entities. The allocated work streams will vary in terms of impact and complexity.

Supervision of regulated entities

• Lead, support and/or contribute to the monitoring of risks of regulated entities and ensure they comply with supervisory service standards, processes and procedures.
• Lead, support and/or contribute to professional discussions with the management of regulated entities to gather and corroborate information for the assessment of risk.
• Lead, support and/or contribute to desk-based reviews and onsite risk assessments, thematic reviews, analysing firm-specific financial and non-financial data through write clear and concise memoranda and reports.
• Analyse firm-specific data along with market information, to be able to identify emerging risk trends, which could have a material impact on regulated entities, in order to take appropriate actions and inform the line manager accordingly.
• Draw conclusions and recommend remedial actions as a result of supervisory engagements as appropriate.
• Follow-up on the supervisory risk mitigation plans to ensure they are implemented within the agreed timelines and to the satisfaction of the DFSA.
• Validate the closure of poor compliance and weak controls.

Technical Knowledge

• Act as a technical expert in the subject matter and provide internal training as needed.
• Provide advice and technical guidance internally as required to facilitate timely resolution of complex problems or challenges.
• Provide technical advice and guidance to regulated entities on relevant matters in order to ensure delivery of effective and efficient risk-based supervision.
• Monitor developments in relevant international and regional regulatory standards and in the financial services industry and provide inputs and updates.

Qualifications, Experience & Skills:

Educational Background

• University degree in a relevant field (e.g. 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 would be considered a plus.
• Professional qualifications in finance, risk management, quantitative analysis, etc. such as CA, CFA, FRM, PRM, etc. would be considered as a plus.

Professional Experience

• Minimum of 8 years of regulatory, compliance or risk management experience required in a broadly equivalent financial services regulator and/or a regulated entity.
• Experience in dealing with financial services regulators, standard setters and members of Board of Directors and senior executives.

Knowledge, Skills & Attributes

• Strong and proven knowledge in dealing with financial services regulations and international regulatory standards.
• Good 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.
• Good 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.