Assistant Manager - Escrow Services Real Estate

Job Description

Emirates NBD is registered with RERA and DIFC as an Account Trustee and provides Escrow, Body Corporate and Owner’s Association Services to C&IB and Business Banking clients. The Escrow Services is managed by Group Operations Escrow Services unit which serves various corporate and business banking relationships across Banking clients. The unit is responsible for delivering Operations and Services related to Real Estate Escrow, Common Area, Body Corporate (DIFC), Commercial Escrow (non-regulatory) accounts in line with Regulatory/DIFC guidelines and Bank’s policy and procedures. It also works with Tanfeeth, Legal, OPS Risk and various other departments for the operations and services delivery.

Assistant Manager - Escrow Manager provides superior client experience and seamless delivery of Escrow/OA services in collaboration with his/her Escrow Operations team. Job holder needs to ensure the services provided as an Account Trustee to Clients, internal and external stakeholders are in line with Real Estate Escrow, Commercial Escrow, RERA/DIFC Owners Association and bank’s process and guidelines.

Key Responsibilities:

• Handling day to day Escrow operations activities in compliance with RERA/DIFC/OA Laws and Regulations and internal procedures related to these services within the timelines.
• Check daily Transactions documents related to Developers, Unit Management, Projects, Payments, Deposits, Unit Cancellation/Refund, pending payments, and Retention transfer and ensure timely processing. Liaise with bank appointed engineer for obtaining their certification for release of payments. Ensure timely Reconciliation and escalation.
• Check project wise reports and ensure project wise accounts are reconciled and up to date. Ensure all exceptions are escalated, approved and ratified. Ensure customer queries are responded within the timelines and confidentiality maintained. Liaise with concerned team for clarifications related to any transaction.
• Quick adaptability to new initiatives or any changes in the existing process related to Escrow Services and hand holding the team member, support business units operationally, ensuring customer satisfaction by transactions getting processed within timelines.
• Support Product Managers / Business units operationally, ensuring customer satisfaction by transactions getting processed in line with regulatory/internal bank process, policy and procedures. Providing clarifications / seeking clarifications to and from internal / external customers for smooth completion of the request.
• Analyze operational activities and provide recommendation to reduce manual activities by way of re-designing process and enhancement on system with the support and agreement of GOPS, Tanfeeth Operations, Risk, Compliance and other units. Enhance operational efficiency and ensure it is in compliance with the Operational and RERA guidelines.
• Provide training to new and existing staff and enhancing the service quality and deliverables.
• Display subject matter expertise and ensure service quality meets customer’s and bank’s expectations.
• Well versed with Finacle, BPM, EMS, smartBUSINESS and Online banking application.
• Reconcile audit report and timely submission of audit report to RERA/DIFC/Owners Association in line with RERA and DIFC guidelines for account trustee, developer, and Owner Association (OA).
• Attend periodic meetings with RERA/DIFC on change in policy, procedures and enhancement and align operational activities within the guidelines.
• Perform UAT for new/enhancement product releases, review and provide business sign off to Product team. Closely liaise with Product team for timely delivery of product enhancements on production.
  
  

• Bachelor of Commerce and equivalent degree
• At least 2 years of experience in Escrow Operations and various aspects of banking. Result and client oriented with Excellent performance
• Well versed with Finacle, BPM, EMS, smartBUSINESS and Online banking application. Sound knowledge on MS Word, Excel.
• Business focused. Team Player. Professional Expertise. Client Management.