Assistant Manager-Escrow Services

At RAKBANK, we are committed to delivering operational excellence, regulatory compliance, and exceptional customer service. As an Escrow Operations Officer, you will be responsible for managing end-to-end escrow operations, including account onboarding, fund management, payment processing, reconciliations, regulatory reporting, and stakeholder coordination. The role plays a critical part in ensuring compliance with regulatory requirements while delivering seamless service to developers, investors, and business partners.

What You'll Be Doing

• Manage day-to-day escrow operations, including account opening, maintenance, fund inflows, outflows, and reconciliations.
• Review and process escrow transactions while ensuring compliance with applicable regulations and internal policies.
• Coordinate with Business, Product, Operations, RMs, and external stakeholders to ensure smooth service delivery.
• Handle regulatory reporting requirements and maintain accurate updates on regulatory platforms and systems.
• Support Owner's Association (OA) account management and maintenance fee administration in line with regulatory requirements.
• Monitor escrow balances, project-related payments, retention movements, profit releases, and refund requests.
• Prepare MIS reports, reconciliations, operational dashboards, and exception reporting for management review.
• Identify operational, regulatory, and compliance risks and implement appropriate controls and corrective actions.
• Drive process improvements, system enhancements, automation initiatives, and UAT activities for new developments.
• Support, guide, and mentor team members while ensuring high service and operational standards.

What We're Looking For

• Bachelor's degree in Business, Finance, Banking, or a related field.
• 5-7 years of experience in Escrow Operations, Wholesale Banking Operations, Cash Management, or Corporate Banking Operations.
• Strong understanding of escrow products, account management, payments, reconciliations, and regulatory requirements.
• Experience managing stakeholder relationships across Business, Operations, Regulatory Bodies, and external clients.
• Strong problem-solving, analytical, and operational risk management skills.
• Experience in regulatory reporting, process improvement, and system enhancement initiatives.

What You Should Have

• Escrow Operations & Regulatory Knowledge
• Reconciliation & Financial Controls
• Risk Management & Compliance Awareness
• Stakeholder & Customer Relationship Management
• Data Analysis & MIS Reporting
• Process Improvement & Automation Mindset

What's In It For You

• Competitive compensation and benefits package.
• Opportunity to work on complex escrow and wholesale banking operations.
• Exposure to regulatory frameworks, project finance, and real estate-related banking solutions.
• Collaborative and high-performing work environment.
• Professional development and career growth opportunities.
• Opportunity to contribute to operational excellence and customer experience initiatives.