Director at Enforcement Division
2 дней назад
Description:
Enforcement Director is responsible for managing and controlling the Enforcement function of the AFSA. Enforcement Director is expected to oversee and ensure the integrity of the financial markets by monitoring, detecting, investigating, and taking necessary enforcement actions against non-compliance within the regulatory framework of the Astana International Financial Centre (AIFC). Enforcement Director provides strategic consultation to senior executives to lead and drive AFSA performance and collaborates with internal and external stakeholders to uphold the standards and regulations set by AFSA.
About AFSA:
The Astana Financial Services Authority (AFSA) is an independent financial regulator of the Astana International Financial Centre (AIFC). The AFSA regulates financial service providers as well as the ancillary service providers, integrating into an international regulatory framework, and interfacing with other financial services regulatory authorities across the globe.
The AIFC is a territory within the city of Astana with defined borders and special legal and tax regimes. The Acting law of the AIFC is based on the principles, rules and precedents of the law of England and Wales. The official language within the territory of the AIFC is English.
The status of the AIFC and functions of its bodies are defined in the Constitutional Statute of the Republic of Kazakhstan "On the Astana International Financial Centre".
The AFSA is one of the statutory bodies of the AIFC. The AIFC Management Council is the highest body of the AIFC chaired by the President of the Republic of Kazakhstan.
The AFSA performs the following functions:
- Registration of AIFC participants. The AFSA will register and incorporate financial entities and non-financial professional ancillary service providers. The function of the Companies Registrar sits in the AFSA.
- Authorisation is the "gateway" to financial services activities in the AIFC. The AFSA authorisation aims to ensure that only the right firms, run by the right people, and selling the right products, to the consumers, are approved to do business in the AIFC.
- Recognition will enable renowned financial market infrastructure and other qualified potential market participants to register and (or) obtain authorisation in a streamlined manner.
- Supervision: in-depth, structured supervision work with firms will enable the AFSA to prioritise work, act quickly and decisively and be more pre-emptive in identifying and addressing problems before they cause harm.
- Enforcement: strong and decisive enforcement will be vital to help make sure firms comply with the Acting Law of the AIFC, meet the AIFC standards and markets are sound, stable, and resilient.
- Policymaking: development and implementation of rules, regulations and guidelines for AIFC, comprehensive analysis of current market trends, legal frameworks, risks and international standards.
The Director of the Enforcement Division is entrusted with a comprehensive range of responsibilities designed to uphold and enforce the regulatory standards of the Astana Financial Services Authority (AFSA). These duties encompass overseeing and managing a broad spectrum of enforcement activities to ensure adherence to financial regulations and safeguard the integrity of financial markets:
- Investigative Oversight, Compliance Monitoring, and Communication: Regularly engage with the Supervision Office to monitor potential investigations, detect contraventions and ensure compliance, addressing deviations or misconduct. Review and process referrals from third parties and internal sources for Enforcement Assessment, ensuring prompt and efficient resolution of all allegations. Actively monitor and respond to incoming communications through the AFSA SpeakUP Hotline and designated email addresses to capture and address compliance concerns or reports of misconduct.
- Decision-making, Legal Documentation and Notices: Prepare materials for review by the Enforcement Committee, assist the Enforcement Committee in decision-making process, recommend a suitable course of action. Issue clear, legally adherent notices to persons or entities under investigation and prepare Preliminary Notices and Decision Notices as required by the enforcement process, ensuring all legal documents uphold justice and regulatory compliance.
- Evidence Management and Legal Procedures: Conduct document reviews, interview witnesses, and collect evidence essential for compiling investigation reports that support enforcement actions. Ensure all exhibits and evidence related to enforcement activities are logged, maintained, and accessible in an organized and timely manner.
- Regulatory and Law Enforcement Collaboration: Engage with local and international regulators to share information and engage in cooperative enforcement actions. Maintain effective communication with local law enforcement agencies, such as the Police and Public Prosecutor, and financial institutions like the National Bank for joint actions and information sharing in respect of cases under the AFSA's investigation.
- Settlement Negotiation and Policy Development: Participation in settlement process to negotiate resolutions. Assist in formulating and drafting specific policies to support the enforcement role, enhancing AFSA's regulatory frameworks to adapt to emerging financial threats.
- Interdepartmental Collaboration: Foster strong, cooperative relationships with other divisions within AFSA to ensure a cohesive regulatory approach and support the overarching objectives of the AIFC. Represent the Enforcement Division in internal committees and working groups, contributing legal expertise to cross-departmental discussions and initiatives.
- Administrative tasks: handling procurement matters for the division; storing and filing incoming and outgoing correspondence with other AFSA divisions, governmental bodies, and other stakeholders; drafting memos, quarterly reports, explanatory notes.
- Educational Background: Bachelor's degree in Economics, Law, Finance or other relevant field; an advanced degree in Economics, Law, Finance or other relevant field is desirable;
- Professional Experience: 5+ years of work experience in financial regulatory authorities or relevant organizations;
- Certifications: Relevant professional certifications and qualifications will be an advantage.
- Language Skills: Excellent command of English and Russian/Kazakh, both written and verbal.
- Regulatory Expertise: Strong understanding of financial markets and law investigation processes; Strong knowledge and experience in conduct matters and developments across the financial sector; Strong knowledge and experience in international AML-CFT rules' implementation in a regulatory body or within major regulated firm subject to supervision by a major international financial center;
- Management Skills: Strong leadership and management abilities, promoting teamwork and efficiency;
- People and Time Management: Exceptional skills in managing people and time, with a professional, diplomatic, and ethical approach;
- Communication and Presentation: Excellent communication and presentation skills, both written and verbal;
- Cultural Adaptability: Able to adapt to and work effectively in a multi-ethnic environment;
- Stakeholder Engagement: Ability to interact effectively with internal and external stakeholders; a collaborative team player;
- Language Proficiency: Excellent command of English and Russian/Kazakh, both written and verbal;
- Relevant Experience: Experience working in common law jurisdictions or international financial centres (e.g., UK, Canada, Australia, USA, Singapore, Hong Kong, DIFC, ADGM, QFC) and familiarity with Kazakhstani legislation is an advantage
- Full-time 5/2 position based in Astana, Kazakhstan.
- Office environment with a hybrid work option as per AFSA's policy.
- May require extra hours during peak project periods or event planning phases.
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