Escrow Management Services Manager

2 weeks ago Be among the first 25 applicants Direct message the job poster from Invest Bank Responsible for recommending the business strategies, product pricing and sales/marketing planning to increase the market share of the bank’s escrow business.To organize the day-to-day Escrow product management, fulfilling regulatory and compliance issues related to Escrow and to proactively develop the Escrow business Handle product activities from strategic to tactical Assist Unit Head to deliver the department strategy under Escrow Product Management and to be accountable service and portfolio growth.Work in coordination with sales and relationship team prepare, negotiate and win mandates.To handle the product roll-out for all escrow propositions.Key Accountabilities: Validate developer documents, licenses, and other required information for opening real estate escrow accounts.Manage the opening and closure of real estate escrow accounts within the bank, adhering to all internal controls and regulatory requirements.Process incoming and outgoing payments related to real estate transactions.Allocate deposits accurately to specific developer project units according to escrow instructions.Prepare and maintain accurate records of all escrow account transactions.Monitor escrow account balances and ensure adherence to disbursement schedules.Communicate effectively with developers, buyers, real estate agents, and other stakeholders to provide updates on the escrow process and address any inquiries.Identify and resolve any discrepancies or issues that arise during the escrow process.Stay up-to-date on all relevant laws and regulations governing real estate escrow accounts in the UAE.Develop business requirements as the basis for Technical Development, Operations, payments, processing, and other cross functional departments to build systems, procedure, and materials (ideas) to support product development and ongoing product enhancements To develop all required SOP & and ongoing review To handle all legal agreement with clients and legal team.To handle CTA agreements with all stakeholders.Handle all risk assessment activities and reports Responsible for maintaining the regulatory and legal compliance requirements of all escrow products To attend client meetings along with CM Advisory/Coverage RMs and analyze project revenue details To review ESCROW account opening (Main and Retention) by liaising with Acct Opening Team upon obtaining the relevant approvals from RERA/DMAT/RAK-RERA / documents from the Developers and communicate account details to the Regulators/Developers and checking KYC/AML/Sanction norms To manage the RERA/External/Internal Audit etc.Qualifications Experience & Skills Qualifications Min Degree in Banking/ Finance/ Accounting or any related field;Proven track record of working within Escrow Management Services Keep up-to-date with financial and industry developments;Strong knowledge of Regulators’ guidelines and other relevant local legislation;Strong marketing and sales skills;Strong analytical and judgmental skills;Experience Working knowledge of Escrow Services with minimum 2+ years of experience Job Specific Skills Detailed knowledge of various TB products including Escrows and Cash Management To be able to demonstrate awareness of future product, market plans, changes, developments and trends.Intimate knowledge of payments systems, clearing houses, local regulatory authorities, banking associations and other ancillary business services.UAE national Preferred Generic Skills Requirements Strong communicator that can represent the bank Strong commercial acumen, marketing aptitude and people skills;Strong analytical and judgmental skills Seniority level Seniority level Director Employment type Employment type Full-time Job function Job function Quality Assurance Industries Banking Referrals increase your chances of interviewing at Invest Bank by 2x Get notified about new Service Manager jobs in Sharjah Emirate, United Arab Emirates.Assistant Manager Contact Centre Process Re-engineering We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI. #J-18808-Ljbffr