Director Escrow Management Full-time Job

2 weeks ago   Facilities Management   Abu Dhabi   17 views Reference: 27387
Job Details

Key Accountabilities

Manages the entire product lifecycle and product roadmap.

Incorporating feedback and input from customers, partners and in-house teams on product strategy and finding ways to expand product market reach

Monitor the market trend and conduct product review regularly

Aligning product development with business goals

Works in close co-ordination with different departments to establish proper control measures, clear guidelines, and business performance indicators

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 handle the product roll-out regionally and globally for all escrow propositions.

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 CAD 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.

To Prepare unit MIS (profit, revenue, cost etc.) and highlight any potential risk or opportunities

To review/submit all the mandatory reports to RERA/DMAT/RERA-RAK on a timely basis and any other MIS information sought by the respective regulators or local courts.

To re-assess the FTP benefits from GT and arrive at the applicable interest payable to the Developers (if applicable) on a frequency agreed with the respective Developers

To review payments under different heads of payments such as construction, consultancy, sales and Marketing, Land payment etc. in line with the regulations of each Emirate

Handle and manage unit projects and make sure to meet deadlines

To make sure all regulator systems are up to date with the relevant data on a timely basis

To update the standard Tariff structure of Escrow Management from time to time

Liaising with the respective regulators for any clarification/additional information regarding Escrow laws / Regulations for the smooth conduct of Escrow business

Vetting of commercial escrow agreements with internal/external lawyers /opening of Commercial escrow accounts / checking the payment requests for compliance with the commercial escrow agreement terms/ liaising with payment team for execution of payments/closure of accounts etc.

To attend all Regulator meetings

Company Description
FAB, the UAEs largest bank and one of the worlds largest financial institutions offers a an extensive range of tailor-made solutions, and products and services, to provide a customised banking experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.
Headquartered in Abu Dhabi, in Khalifa Business Park, the banks international network spans over 19 countries, across the world, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience and will support the growth ambitions of its stakeholders across the global network in which the bank operates.
To empower its customers and clients to Grow Stronger, FAB is initiating a powerful movement, which goes beyond banking. The Grow Stronger movement represents the banks promise to support its stakeholders goals and growth ambitions, providing ideas, tools and expertise to help them become stronger, today and in the future. Through a strong, diversified balance sheet, leading efficiency and a solid corporate governance structure in place, FAB is set to drive growth forward.