Consumer Protection-Asst. Manager

Job Description-

Key Role

Developing, monitoring and tracking adherence to CBUAE Consumer Protection Regulation and Standards. This role would encompass ongoing coordination and follow-up regarding changes in System, Policies, SOPs and management frameworks across all business segments and channels

Domain Experience

Responsibilities: (Implementation/Compliance, Detection and Investigation)

Consumer Protection – Implementation

– Drive the implementation of Consumer Protection Standard within defined timeframes by UAE Central Bank and meet all required timelines

– Track and follow-up with all the stakeholders on gap-assessment and solution in order for compliance to the regulatory standards

– Assist in preparation of management action plan and timeline for monitoring and implementation all Groups / Segments.

– Support in publishing timely and complete monitoring update pack for senior management covering all broad aspects of the Consumer Protection Regulation.

– Support the implementation plan – covering all products and service areas defined within the Consumer Protection Regulation and Standards

– Identify gaps within existing products, policies and process in comparison to the Consumer Protection Standards – engage necessary stakeholders to eliminate Risks to the implementation timelines by mitigation of identified threats during the project as well as in BAU

– To provide focused, quality updates in order to support Management to take decisions in the right strategic direction

Consumer Protection – Ongoing Compliance:

– Support the Head of Customer Engagement in reviewing Policies and Procedures based on Consumer Protection and other regulatory guidelines and/or observations from Internal Audit, Compliance and Regulators etc.

– Responsible to take care of adhoc bank-wide regulatory exercises pertaining to Consumer Protection.

– Assist the business teams and front-end Channels (including Branches), with the objective of resolving procedural and operational issues that may arise at any time pertaining to Consumer Protection.

Involve in critical analysis of approach and interpretation of CPR for solutions and planning

– Ongoing basis, identify weaknesses and implement control checks with support from relevant stakeholders to ensure no deviation from standards prescribed

– Submission of reports to senior management and Central Bank as per CPR requirements and within the timelines published.

– Conduct Consumer awareness training programs.

– Build framework on customers and staff feedback on customer satisfaction, business and market conduct and provide results of survey to management for improvement is staff and business conduct, changes to product and services that will enhance customer satisfaction and mitigate risks in business and market conduct risk management.

Consumer Protection –Complaint Management and Resolution:

– Ensure all customer complaints are resolved and timelines adhered to

– Oversee complaint management process and provide continuous training to improve the services and resolution process

– Monitor complaints and report unresolved complaints to senior management within the timeless

– Using data analysis financing, arrange for thematic reviews, surveys, mystery shopping to develop a holistic understanding of complaint trends, Based on findings, improve control framework and conduct of Bank’s process and policies

Technical Experience

· Strong knowledge of the retail products life cycle, industry trends on consumer protection tools/solutions

· Understanding of consumer protection management and governance frameworks, strong knowledge of business and market practices and protocols, and in-depth knowledge and expertise of the Bank’s operations, including IT practices.

· Ensure efficient use of limited resources. and oversee teams of consumer protection support staff and analysts and ensure efficient time utilization.

· Provide training to reporting staff and analysts and consumer awareness programs and conduct customer satisfaction surveys

· Attention to detail and ability to analyze large amounts of information

· Strong problem solving and analytical skills

· Excellent communications (oral and written), interpersonal / business partnering, and organizational skills

· Proficient with MS applications.