Role Overview

We are seeking an experienced and regulatory-savvy General Manager to lead a Dubai-based Virtual Asset Service Provider (VASP) licensed under the Virtual Assets Regulatory Authority (VARA). This role must be based full-time in the UAE and approved by VARA as a Designated Role Holder. The GM will serve as the local legal representative and accountable person under VARA regulations, responsible for regulatory compliance, governance, strategic execution, and operational oversight. This position is pivotal to ensuring full compliance with VARA’s 2025 Rulebooks, including the Company Rulebook, VASP Rulebook, and Activity Specific Services Rulebooks.

Key Responsibilities

Regulatory Governance & Compliance

• Serve as the designated General Manager and Accountable Individual under VARA regulations and act as the principal point of contact with the regulator.

• Ensure full compliance with all requirements set out in the applicable VARA Rulebooks, including regulatory reporting, internal control frameworks, AML/CTF obligations, technology governance, and disclosure requirements.

• Maintain the entity’s Minimum Capital, local substance, governance structures, and business continuity readiness as per VARA standards.

• Ensure the VASP operates with operational independence from other group entities and mitigates any potential conflicts of interest. Strategic & Operational Leadership

• Oversee the setup, implementation, and growth of the VASP’s licensed operations in the UAE. • Drive local business planning, budgeting, and performance management in alignment with group-level strategies.

• Lead commercial expansion initiatives, client acquisition plans, and strategic partnerships in the MENA region. People Management & Governance

• Build and lead the UAE-based team, including compliance, risk, operations, and client-facing roles.

• Ensure all Key Individuals (e.g., MLRO, Compliance Officer, CTO) meet the Fit and Proper standards required by VARA.

• Oversee implementation and adherence to internal policies and procedures covering compliance, risk, onboarding, marketing, and client services. Risk & Incident Management

• Maintain an up-to-date Enterprise Risk Management (ERM) framework, including ongoing risk assessments and control testing.

• Ensure readiness and execution of the Business Continuity Plan (BCP) and IT Disaster Recovery Plan, and maintain effective response protocols for material incidents and breaches.

• Implement and monitor the Technology and Cybersecurity Risk Framework required for VASPs, with appropriate testing and documentation.

Required Qualifications & Experience

• At least 8 years of senior leadership experience in a regulated financial services, fintech, or digital assets environment.

• Strong familiarity with the UAE regulatory landscape, particularly the frameworks of VARA, DFSA, FSRA, or equivalent global regulators.

• Demonstrated experience overseeing compliance, operations, and governance functions in a licensed entity.

• Expertise in AML/CFT, Information Security, Technology Risk, and Governance Controls.

• Proven ability to interact with regulators, auditors, financial institutions, and strategic partners.

• Bachelor’s degree required; advanced qualifications (MBA, LLM, CAMS, ICA) preferred.

Preferred Qualifications

• Experience launching or managing a regulated Virtual Asset Exchange or similar financial platform in the UAE or GCC.

• Prior involvement with VARA application and licensing processes. • Established UAE network including banks, regulators, advisors, and service providers.

• Proficiency in Arabic or Mandarin is advantageous. Personal Attributes

• Strategic leadership mindset with operational pragmatism.

• Excellent stakeholder management and regulatory communication skills.

• Capable of navigating complex and evolving regulatory requirements with integrity and discipline.

• Proactive, accountable, and commercially astute.

Phemex

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