20 February 2012 — DFSA Continues to Develop Emirati Regulatory Talent
Dubai, UAE, 20 February 2012: The Dubai Financial Services Authority (DFSA) held its annual Tomorrow's Regulatory Leaders (TRL) Awards ceremony last week. The purpose of the awards is to congratulate Emirati employees who have completed the DFSA's two-year TRL Programme.
The programme prepares newly graduated UAE nationals to become financial services regulators. A combination of in-house training, coaching by experts from international financial centres and examinations from the Chartered Institute for Securities and Investment (UK) makes the TRL Programme a unique development programme. Graduates join as TRL Associates and over the two years undergo over 400 hours of classroom training along with on-the-job coaching from their more experienced DFSA colleagues and industry experience in Dubai International Financial Centre (DIFC) Authorised Firms.
Mr Paul Koster, Chief Executive said, “The DFSA is investing in developing young Emiratis to become leaders in the area of financial services regulation. To date, the TRL Programme has produced eleven managers and currently has nine individuals on the programme. UAE nationals constitute 28% of DFSA's regulatory workforce. We are very proud of the results of this programme and will continue our efforts to deliver sustainable and enduring benefits to the DFSA by equipping Emiratis for long-term careers in regulation.”
The programme is written and delivered by DFSA regulators with training materials being updated every year to reflect changes in legislation and the market environment. In addition, each graduate is assigned a coach who helps the Associate understand the job they are assigned to do. In so doing, the graduate benefits from their coach's wealth of regulatory experience and their international perspective.
Mr Michael Ridgeway, General Counsel and Dean of the TRL Programme said, “The awards not only celebrate the success of our young Emirati colleagues, but also recognise the considerable efforts and enthusiasm shown by our TRL trainers and coaches. In line with our core regulatory mission, the TRL Programme is one of our most important strategic initiatives. We place great importance on sustainability, now our TRL Programme 'alumni' are also involved in developing the next generation of regulatory leaders. ”