Home UAE Abu Dhabi Executive Director, Escrow Management

Executive Director, Escrow Management
Full time at First Abu Dhabi Bank FAB in Abu Dhabi, UAE

Executive Director, Escrow Management Full time at First Abu Dhabi Bank FAB in Abu Dhabi, UAE

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Job highlights

Posted on May 9, 2021
  • Experience in
  • Professional background in
  • Job level Experienced

Job details

JOB PURPOSE:

 As part of one of the largest Real Estate Escrow service providers in the region, the individual will

need to develop new Escrow Product and manage existing Real Estate and Commercial Escrow

propositions while working with different customer segments, and be responsible for the overall

customer experience including pre-sales support, on-boarding and client servicing.

 Engage with local and regional regulators (RERA/ ADM/WAFI) in structuring Escrow Proposition,

suitable for the markets while advising clients on all aspects of Corporate banking including CDD,

compliance, Risk, credit, operations & provide the “right solution”

 Work with different product units and business functions in conceptualizing complex Account

bank and Project Bank Escrow propositions that will enable FAB to provide comprehensive

solutions

 Bring in process automation and adopt prudent Risk management practices that will drive scale

while delivering Escrow propositions.



KEY ACCOUNTABILITIES:

• Manage, develop and grow the Escrow business under GTB cash Product management while

actively working with Solutions & Advisory teams in supporting Escrow propositions for the CIB

client base & provide the “right solution”

• Identify opportunities within the domain of new Escrow product development (Account bank,

Owners Association, commercial Escrow in Egypt/KSA/Kuwait) while adhering to the regulations

and embracing technology enablers to achieve process efficiencies.

• Building and nurturing long term relationships with Real Estate regulators and working with them

in ensuring that Escrow proposition is aligned and Product changes, automation and reporting

requirements are in line with regulatory expectations

• Specific responsibility for timely Renewal of annual Trust Agreement with RERA/ADM, attend

monthly Account Trustee Meetings with regulators, Auditors and Developers.

• Accountable for arranging / approving all the mandatory reports to regulators on a timely basis and any other MIS information sought by regulators or local courts / other product partners etc

• Arrange External Annual Audit of the ESCROW Management business by External Auditors /

liaising with Government Auditors / Internal Compliance / Auditors

• Ensure departmental processes adhere to prudent Risk Management Practices and Audit

recommendations ; continuously review processes and ensure automation tools are adopted and

fit for purpose.


Job Context

 Primary focus on CIB clients and chosen clients from other areas of the Bank

 Engage with stakeholders across the bank and client in general to promote specific solutions

 Close liaison with GTB Management, CIB an PBG Relationship , Operations and other relevant

stakeholders while developing and implementing solutions

 Participate in review of client agreements, service standards and service quality to ensure that we

meet and exceed the expectations of our clients

 Educate Developers & Investors about Escrow laws, rights / limitations if any

 Close co-ordination with Regulators for timely updates critical in running the Escrow Management

business


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