Market Conduct and Consumer Protection Officer

Job Purpose:

The Consumer Protection Officer is responsible for safeguarding the rights and interests of customers by ensuring compliance with relevant consumer protection regulations and standards. This role involves monitoring and enforcing policies that protect consumers from unfair practices, overseeing complaint resolution processes, and ensuring that the organization's products and services adhere to regulatory requirements. The Consumer Protection Officer also works to foster a culture of transparency and fairness within the organization

Key Accountabilities: 

• Following up with all stakeholders on identified gaps and solutions to ensure compliance with regulatory standards.
• Support the timely publication of comprehensive monitoring updates for senior stakeholders, covering all key aspects of Consumer Protection Regulations.
• Review policies and procedures related to Consumer Protection and other regulatory guidelines, as well as feedback from Internal Audit, Compliance, and Regulators. Lead ongoing bank-wide regulatory initiatives concerning Consumer Protection.
• Ensure all reports, dashboards, and related materials regarding Consumer Protection Regulations are published according to established deadlines.
• Provide timely updates to regulatory bodies and Senior Management, highlighting key areas of concern during management reviews, including at the Consumer Protection Steering Committee.
• Offer critical analysis and advice on the approach and interpretation of Consumer Protection Regulations for effective solutions and implementation.
• Identify weaknesses and implement control checks, collaborating with relevant stakeholders to ensure ongoing compliance with prescribed Consumer Protection standards.
• Develop and maintain strong relationships with internal and external stakeholders to ensure the Bank's compliance with the CBUAE’s Consumer Protection Regulations and any supplementary regulations.
• Coordinate with Business Units, Segments, and Channels for internal and external audit reviews related to Consumer Protection Regulations, overseeing the timely resolution of any related findings.
• Manage audit-related activities in collaboration with various units, coordinating action plans with relevant stakeholders to address and remediate non-compliant or partially compliant audit findings

Key Skills:

• Extensive knowledge of the complete range of banking products and services.
• Over 5 years of experience in governance within the financial sector, with a strong record of consistent performance and achievements.
• Understanding of all banking operations, Islamic Banking product, policies, CBUAE regulations and compliance.
• Deep understanding of the Consumer Protection Regulation and its associated standards.
• Solid grasp of both local and international regulatory frameworks.

Language:

•  Good communication skills both oral and written in English (Arabic is an advantage)