Jobs in UAE Banking & Financial Sector: Insights on Hiring

According to a report from the Statistics Centre Abu Dhabi (Scad), there’s been hundreds of jobs cuts in Abu Dhabi’s banking sector within the commercial and Islamic banks due to some reporting a decline in profitability, but that is not to say that every bank in the capital was included in the study.

ADCB (Abu Dhabi Commercial Bank), for example, has been increasing their recovery efforts by employing international debt collectors to recuperate unpaid personal and business loans reports Arabian Business. What’s more, currently vacancies for VAT Auditor/Debt Collector in the UAE are also present.

So, are you looking for bank jobs in the UAE, in Dubai or Abu Dhabi? Well, there are still plenty of possibilities in the banking and finance services sectors in the UAE. Here are some examples:

Job: News from Cooper Fitch DMCC says the imminent introduction of VAT in the UAE will be a big contributor for job creation in the year ahead. As result, Cooper Fitch is seeking a financial analyst with strong VAT experience to join their finance team in Dubai.

Job: Standard Chartered Bank seeks a Country Client On Boarding And Management (COBAM) Specialist to provide advice, guide and support of all Client Due Diligence (CDD) risks. Those with CDD knowledge and experience can apply via GulfTalent’s online recruitment portal, if interested.

Job: Abu Dhabi Commercial Bank (ADCB) seeks a Branch Manager – UAE Nationals. Also, Abu Dhabi Islamic Bank (ADIB) looks for a UAE national to fill the same role of Head of the Retail Banking Group.

Job: Noor Bank Acquirer Manager – Risk Management – vacancy at the Dubai branch that will support the unit Manager on the assessment of Acquirer risk material projects and initiatives and in assuring adequate Fraud Risk mitigation. Interested candidates can send their CV to Mehrunnisa.Shaikh@noorbank.com. In addition, another opening exists for a Relationship Manager – WM / Priority Banking – to develop WM relationship with the customer base to meet individual customer’s business needs related to service, compliance, Shariah, Islamic banking, Investment products and Risk/ audit. Interested candidates can send their CV to Sandesh.Abhikar@noorbank.com.

Noor Bank (formerly Noor Islamic Bank), a Sharia compliant bank in the UAE, has signed an agreement with the Emirates Institute of Banking and Financial Studies, EIBFS, for the launch of its new Management Associate Programme, entitled ‘Imtiaz,’ meaning excellence, to hire talented Emirati graduates, that enables them to acquire knowledge and required proficiency for a future career within banking. Ultimately, they’ll be certified in the sector functions and operations.

Job requirements:

  • Experience: At least 5 – 10 years of experience within the banking/financial industry with a minimum of 2 years in a managerial role
  • Knowledge: Expertise of International Accounting Standards is required, as is acquaintance with UAE banking and finance
  • Familiarity: Areas with financial and/or banking markets
  • Competence: consumer/corporate/business and trade financing
  • Know-how: Financial accounting and reporting for banks
  • Skills: Proficiency of UAE banking practices, regulations & risks
  • Language: Fluency in both Arabic and English, speaking and writing, is essential
  • Education: Bachelor’s degree in Accounting/Finance required, or MBA preferred

Why work in Banking and Finance in UAE?

  • HIRING TRENDS—with positive job outlook; the market is “rallying,” says recruiters.
  • SALARY & COMPENSATION TRENDS—pay increases of between 7-9%.
  • PROMINENT INCENTIVES—from leave, flexi hours, insurance, and more.

The Abu Dhabi Education Council (ADEC), Abu Dhabi Global Market (ADGM), and INSEAD have signed a Memorandum of Understanding (MOU) on 23 May 2017 in support of building up financial services knowledge and competence in Abu Dhabi that fosters the talent pool and the development of human capital in the financial sector of the UAE.

As mentioned in a recent Gulf News post, Hind Al Attar, head of Human Resources at Noor Bank in Dubai, said: “We have around 100 vacancies this year, which includes 30 of the management associates, part of the Imtiyaz  programme focused on hiring the fresh graduates on a fast-track accelerator programme for them to attain leadership position in different kinds of fields in banks, where you don’t find a lot of UAE nationals, such as treasury, investment banking, risk management, credit, etc.”

The banking and financial services market in the UAE have overcome hiring freezes and reductions in headcount, by focusing on the transformation and streamlining of operations, and is now ready to hire the best available talents (local and international).  One can also expect an increase in hiring across all of the banking markets as a result of Dubai’s preparations for Expo 2020; according to Cooper Fitch, it forecasts a “GDP growth rise to 3.1% a year in 2017. This will have a positive effect on hiring trends for finance positions.”

Jobs in UAE Banking & Financial Sector: Insights on Hiring

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