Job Description
JOB PURPOSE:
- Responsible for escrow product management activities, with a specific focus on JOP and RE activities across all emirates.
- Screening all client requests as per regulations and bank policies.
- Overseeing the preparation of reports for regulatory submissions.
- Working in coordination with the sales and relationship teams on deals.
- Handling product risk and compliance activities, including client-specific requests.
- Managing client/regulatory requests and inquiries.
- Reconciling and managing all projects to comply with regulations.
KEY ACCOUNTABILITIES:(This section shall not be customized to reflect accountabilities unique to one role. Please use Section 5 to capture any accountabilities specific to the role, which are over and above those mentioned in this section.)
- Support escrow product management, mainly in Real Estate & JOP.
- Liaising with respective regulators for any clarification or additional information regarding escrow laws/regulations for the smooth conduct of escrow business.
- Collaborate with different departments to deliver on product, process, and regulator/developer-related activities.
- Review and monitor escrow account openings (Main and Retention) by liaising with RERA, ADREC, RAK-RERA, and clients, and collaborate with regulators, developers, and the relationship team.
- Ensure monitoring of payments under different heads, such as construction, consultancy, sales and marketing, and land payment, in line with the regulations of each Emirate.
- Regulatory reporting, compliance, and MIS oversight, including the review and submission of all mandatory reports to RERA, DMAT, and RERA-RAK on a timely basis.
- Responsible for maintaining and complying with the regulatory and legal compliance requirements of all escrow products, in line with the approved Product Program.
- Manage RERA/external/internal audits and exceptional/specific information sought by respective regulators or local courts.
QUALIFICATIONS & EXPERIENCE:
Knowledge:
- Experienced in escrow operations, escrow laws, and regulations.
- Knowledge of real estate and owners’ associations regulations.
- Excellent communication, analytical, and customer service skills.
- Strong knowledge and use of Microsoft Office, mainly Excel and PowerPoint.
- Proficient in business English.
Key Attributes:
- A self-starter, motivated, with a willingness to undertake self-learning and work under pressure.
- Ability to analyze and understand project credentials, with good numerical skills for project and revenue assessments.
- Strong interpersonal skills.
- Excellent verbal and written communication skills, with the ability to articulate concepts effectively.
Experience:
- Preferably experienced in escrow services, mainly operations.
- Knowledge of RE escrow laws and regulations across the UAE.
- Good understanding of local and international GTB products, international cash management practices, and digital platform operations.
Skills:
- Strong results-oriented individual.
- Ability to manage high workloads within a pressurized environment.
- Multi-tasking abilities.
- Strong organizational and planning skills.
- Excellent communication, negotiation, and problem-solving skills.
- Strong work ethic, with a willingness to take a "hands-on" approach.
Education:
- Minimum of a bachelor's degree.
- Degree in Finance, Accountancy, or Legal preferred.
Job Details
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Job Location
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United Arab Emirates
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Company Industry
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Other Business Support Services
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Company Type
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Unspecified
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Employment Type
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Unspecified
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Monthly Salary Range
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Unspecified
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Number of Vacancies
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Unspecified