Team Leader, Escrow Operations Commercial Bank of Dubai

JOB RESPONSIBILITIES

• Oversee the end-to-end management of escrow accounts for real estate transactions. Ensure timely processing of deposits, disbursements, and reconciliations. Maintain strict compliance with RERA and DLD guidelines.
• Ensure all Escrow transactions align with UAE escrow laws and financial regulations. Conduct periodic audits and implement corrective actions. Liaise with regulatory authorities for reporting and compliance updates.
• Identify, assess, and mitigate risks related to escrow transactions. Implement fraud detection mechanisms and internal control policies. Ensure due diligence and AML (Anti-Money Laundering) compliance.
• Act as the primary point of contact for developers, banks, investors, and regulators. Facilitate smooth coordination between all escrow stakeholders. Resolve disputes and address client concerns efficiently.
• Optimize escrow operations to enhance efficiency and reduce processing time. Develop and implement the best practices for fund management. Drive automation and technology adoption for better workflow management.
• Prepare detailed escrow transaction reports for internal and external stakeholders. Monitor account balances, disbursement schedules, and financial reconciliations. Provide strategic insights through financial data analysis.
• Supervise and mentor the escrow operations team. Conduct training on escrow regulations, operational protocols, and compliance measures. Foster a high-performance culture within the department.
• Oversee the daily operations of escrow accounts for real estate transactions.
• Ensure compliance with Dubai Land Department (DLD) and Real Estate Regulatory Authority (RERA) regulations.
• Supervise escrow account openings, fund disbursements, and closures. Monitor transaction processing, reconciliation, and reporting.
• Ensure adherence to UAE escrow laws and regulations.
• Conduct periodic audits and risk assessments. Implement fraud prevention measures and internal controls.
• Maintain documentation in line with regulatory requirements. 3. Client & Stakeholder Management: Act as a point of contact for developers, banks, and regulatory bodies.
• Manage teams aiming at speed, accuracy and efficiency in processing
• Ensure compliance to Banks rules, policies, Procedures and guidelines
• Ensure RERA guidelines, policies and procedures
• Facilitate smooth coordination between developers and financial institutions. Address client queries and resolve disputes efficiently.
• Streamline escrow operations to improve efficiency and accuracy.
• Develop and implement best practices for escrow management.
• Prepare detailed reports on escrow transactions and financial performance.
• Lead and mentor the escrow operations team.
• Provide training on escrow regulations and internal procedures.