Assistant Manager, Customer Fulfilment- Wholesale Banking Escrow Management Services

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a Public Joint Stock Company based in the United Arab Emirates (UAE). It was founded in 1976 and is one of the oldest banks in the UAE. The Bank operates within retail and corporate banking, offering a range of services including personal and business banking, credit cards, loans, investment services, and wealth management.

In recent years, the Bank has achieved significant milestones, including being named one of the world's best banks by Forbes ME (2022) and awarded UAE's SME Bank of the Year by the Asian Banking and Finance Awards. The Bank has been successful in achieving the highest profitability and lowest cost of risk since 2015. It has also seen significant growth in its acquiring business, card spending, and business loans.

Being on a transformational journey, in partnership with Honeywell, RAKBANK has also taken steps towards sustainability by reducing its overall energy consumption.

We are a diverse team comprising over 3,000 employees from across 58 countries. We make conscious efforts to build talented and diversified teams and encourage people to develop their full potential. We are committed to providing a working environment that promotes work-life balance, career development, recognition, and security for the future.

In line with our strategy, a major part of our transformation journey is to future-proof our bank and establish ourselves as a ‘Digital bank with a human touch’ for our customers.

So join us in co-creating the future of RAKBANK!

What You Will Be Doing

• Oversee the execution and management of Escrow operations within the Customer Fulfillment team.
• Ensure that control mechanisms are followed, daily reports are verified, and all periodical returns assigned are prepared, verified, and dispatched within scheduled time.
• Ensure no operational losses happen due to errors or lapse in laid down controls and highlight any discrepancies that may lead to risk or monetary loss to SVP – Customer Fulfillment.
• Ensure staff reporting meets service standards as per Service Level Agreements or cut-off times mentioned in operating procedures.
• Be proactive in a wide range of customer inquiries and issues, resolving these or escalating as appropriate.
• Perform any other duties or tasks as required or instructed by the Senior Manager or line manager to support the smooth operation of the department.
• Manage day-to-day operations related to Escrow Operations under the wholesale Banking segment, which includes client onboarding, inflow, payments, reporting to RERA, and UATs.
• Maintain a high level of customer contact and closely collaborate with business, product, and operations.
• Manage MIS / Recon for the escrow operations unit and ensure internal and regulatory reporting requirements are fully adhered to.
• Ensure regulatory systems (like TAS – Trust Account Services) are updated with all necessary details as part of the process.
• Monitor and manage risks associated with Escrow operations, including documentation, operational, regulatory, and compliance risks.
• Lead and mentor a team of professionals, ensuring they are well-trained and equipped to manage their responsibilities.

What You Should Have

• Expertise in analyzing and generating data, reports, and insights.
• Familiarity with banking systems and technology integration.
• Strong leadership skills with the ability to motivate and inspire a team, fostering a culture of collaboration, accountability, and continuous improvement.
• Full commitment to the "Mission Zero" culture, with a dedication to understanding and meeting customer needs, ensuring prompt and accurate resolution of inquiries and requests.

What We Are Looking For

• Bachelor’s degree in finance, Business Administration, International Business, or a related field.
• 5 years’ experience in escrow operations – Dubai & RAK, Abu Dhabi, and other emirates will be an added advantage.
• Deep understanding of Banking products of the required assigned vertical.

What’s In It For You

• Pay for performance culture (Competitive and performance-linked compensation).
• Provision of medical care plan for your family and you.
• Comprehensive Life insurance plan.
• Diverse workforce and inclusive culture.
• Career development and growth opportunities by design.
• Work with the best minds in the field.
• Get opportunities to bring your whole self to the organization and perform to your best.