Director- Escrow Product & Account Bank Management

8.00 to 11.00 Years   Dubai , United Arab Emirates   18 Mar, 2023
Job LocationDubai , United Arab Emirates
EducationNot Mentioned
SalaryNot Mentioned
IndustryBanking /Accounting /Financial Services
Functional AreaNot Mentioned

Job Description

  • The individual will support the P & L growth in terms of total revenue (NII & NFI) by focusing on product management initiatives and work with GTB Advisory teams in achieving specific business targets.
  • Responsible for recommending the business strategies, product pricing and sales/marketing planning to increase the market share of the banks escrow business.
  • Work in coordination with sales and relationship team prepare, negotiate and win mandates.
  • Handle product development activities from strategic to tactical
  • To structure, develop and commercialize innovative and complex escrow products such as Account Bank propositions under EPM - Cash Product Management across UAE and International locations. This role will also support the build and creation of new Client propositions in this area.
  • Assist Unit Head to deliver the department strategy under Cash Product Management of GTB, Corporate & Investment Banking Group and to be accountable service and portfolio growth.
  • To organize the day-to-day Escrow product management, fulfilling regulatory and compliance issues related to Escrow and to proactively develop the Escrow business.
Key Accountabilities:
  1. Develop & commercialize escrow Propositions in UAE & globally (existing products and new product roll-out) covering both conventional and Islamic clients, upon obtaining inputs from the relevant stakeholders such as Coverage/ Advisory /FAB-Islamic and CIB product teams such as ECM/DCM/PF/Structured finance teams/bilateral financing teams/Loan Agency/Overseas Branches/FI/NBFI teams etc.
  2. To liaise with the relevant Country teams such as London/Singapore (as per the management directives from time to time) and roll out Country Addendums as applicable for offshore Account Bank purposes.
  3. To comply with ethical, regulatory and compliance issues related to escrow products mainly for commercial escrow and Account Bank product.
  4. Handle all risk assessment activities and reports.
  5. To prepare, review PPG/Country Addendum(s)/SOPs on an agreed frequency or when major changes occur in respect of the product/business practices/policy whichever is earlier. The PPG should be exhaustive and should serve both the onshore and offshore Account Bank products.
  6. To develop SOP (Standard Operating procedures) for escrow products in liaison with the GPP team for the onshore and offshore Account Bank product procedures/processes.
  7. To develop escrow agreement in coordination with internal or external legal teams / to update the prevailing Account opening forms with the credentials of the Account Bank product.
  8. To conduct extensive research and formulate a standard tariff structure for the product
  9. To create relevant MIS formats / to work closely with Channels/Automation teams for achieving maximum automation of the product.
  10. To arrange responses to RFPs / to negotiate in coordination with CM team, the Account Bank tariff with an aim for maximizing NFI income.
  11. Engage the CIB Coverage Bankers/GTB CM team to build up strong escrow pipeline while remaining focused on pipeline deal mandates.
  12. Maintain close liaison with intra region and cross regional stakeholders to facilitate cross border transactions and opportunities where possible.
  13. Upon obtaining the mandate, ensure to have complete oversight the end-to-end Account Onboarding, Agreement finalization and operational process by closely engaging with local operations/legal other stakeholders as appropriate.
  14. Monitoring various Accounts and providing relevant MIS information to the Banks/Facility Agent /security Agent/ Borrower/Customer / as applicable in the agreed frequency and as depicted in the Account Bank Agreement
  15. To monitor the FTP benefits of the Account Bank CASA deposits and to avoid any leakages / maintain the NII/NFI/Forex income reports
  16. To make sure all regulator systems are up to date with the relevent data on a timely basis
  17. To provide Balance confirmation to the approved Auditors / Agents as applicable and on demand
  18. In case of default, to abide by the instructions of the Security Agent and ring-fence the secured accounts as per the instructions.
  19. To support Internal Audit teams while undertaking review / provide appropriate responses / close comments (if any) in a timely manner
  20. To impart extensive training to all relevant stakeholders in coordination with FAB Business School
  21. To perform other activities as appropriate and assigned from time to time by Head of Escrow Product Management
Job Context:
  • Focus is primarily on CIB clients and chosen clients from other areas of the Bank
  • Close liaison with GTB Management, CM team, EPM product team, Client Services, GCF / FI product teams, Agency team, Payment Centre, Channel Support, Overseas Branches, Coverage Bankers, IT Desk, Operations and other relevant stakeholders in the implementation process
  • Participate in review of escrow agreement, service standards and service quality to ensure that we meet and exceed the expectations of our clients
  • To liaise with the Facility Agents routinely for obtaining timely updates and maintaining a close rapport is critical in running the Account Bank product
  • To liaise with the Security Agents in case of default for the timely and strict compliance with their instructions
Frameworks, Boundaries & Decision-MakingAuthority:Ensure 100% adherence to the Account Bank/commercial Agreements and amendments therein from time to time/ Instructions from Facility /Security Agents and Banks internal policies.Ensure 100% adherence to the Escrow laws / Regulations and amendments therein from time to time/ Regulator circulars/ MOMs/ Banks internal policies.Functions within the framework and boundaries of Group policies as well as overall organizational and governance frameworks
  • Authorized to take decisions as per the approved authorization matrix.
  • Experienced product owner mainly for ESCROW proposition, escrow laws, local and international regulations, and practices.
  • Sound Knowledge of Corporate and other cash management products and operations
  • Ability to interpret legal implications around Escrow products and services
  • Understanding of diverse financing structures including real estate/ project / structured finance / syndicated / bilateral / lending transactions and the associated account structures.
  • Working knowledge of LMA standard Facility structure /documentation and bilateral lending policies and documentation
  • Understanding of due diligence processes
  • Exposure to non-financed Account Bank roles
  • Good understanding of mechanisms to create and manage security with regard to Bank accounts.
  • Credit policies of the Bank, Account operations, process guidelines & in-country, Banking laws.
  • Language proficient: Fluent (Business) English, preferably Arabic
Key attributes / Skills
  • Ability to present and negotiate with clients at the most senior levels. High problem-solving abilities.
  • Proven ability to develop and implement new businesses, demonstrable professional achievement.
  • Ability to lead and manage multi-cultural personnel.
  • A sound, creative and analytical mind to adapt to the changing environment. Planning, problem solving and organizational skills.
  • Articulate, good presentation and communication skills as well as strong influencing and negotiation skills to drive results.
  • Excellent customer service skills
  • High pedigree with proven market record of accomplishment and reputation.
  • Ability to maintain good peer relationship to maximize synergies with cross functions for leveraging on business opportunities.
  • Min 8 years of cross-functional /cross-product (Operations/Corporate Banking/Project Finance/ etc.) Banking Experience.
  • Min 5 years of relevant experience in Escrow mainly in product
  • Min Post Graduate Degree

Keyskills :

About Company

FAB, the UAE’s largest bank and one of the world’s 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 bank’s 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.


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