Middle East's 10 Most Influential CCOs to Watch 1 (1)

1. Joseph

2. Integrity is doing the right thing, even when no one is watching. C . S . L E W I S

3. www.thecioworld.com

4. Editor’s C Note hanging times necessitate various leadership qualities. More than ever before, firm stakeholders want more from their C-suite leaders, who must possess talents that are tightly connected with today's business reality. Functional competence must be combined with broader leadership abilities and a thorough understanding of business principles. Forward-Thinking The following year will be another period of adjustment as businesses adjust to life after COVID-19. The 2021 'great Leadership for acceleration' of technology, digitization, and hybrid working will continue to impact the landscape, more quickly than previously believed. Emerging technologies Modern Times are altering business processes and generating opportunities for increased productivity. This significant shift in focus for firms, paired with a larger, more tech-focused C-suite, begs concerns about the mechanics of corporate growth and leadership, as well as what organizations will look like in the future. At the center of this is the Chief Commercial Officer, a relatively new and diverse top-level executive in charge of an organization's commercial strategy. The function of the Chief Commercial Officer has changed dramatically in recent years, reflecting the changing structure of modern business. Traditionally, the CCO's

5. primary responsibility was to oversee sales and income development. However, in today's complex corporate environment, the position of the CCO includes far more than typical sales functions. In addition to driving revenue development, the modern CCO is responsible for establishing and implementing complete commercial strategies that are in line with the organization's overall goals and objectives. This entails exploring new business opportunities, forming strategic alliances, and using data analytics to acquire actionable insights into customer behavior and market trends. In our latest edition of The CIO World, Middle East's 10 Most Influential CCOs to Watch, we celebrate CCOs who have shown great vision and creativity while addressing the changing world of commercial strategy. These notable leaders exhibit a unique combination of functional competence, strategic vision, and transformative leadership traits that propel organizations forward in today's competitive business climate. Have a good read ahead! - Alaya Brown Managing Editor

6. Editor-in-Chief Chidiebere Moses Sam Carter Deputy Editor Alaya Brown Managing Editor Maria Evans Assistant Editor Visualizer Chris Carter Millie Simon Art & Design Head Judy Smith Art & Design Assitant Phoebe Jacob Business Development Manager Aisha, Olivia Business Development Executives David Walker Technical Head Mia Rodricks Assitant Technical Head Helena Smith Digital Marketing Manager Eric Smith Research Analyst Richard Martinez Circulation Manager Follow us on www.facebook.com/thecioworld www.twitter.com/thecioworld We are also available on RNI No.: MAHENG/2018/75953 Copyright © 2024 The CIO World, All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from The CIO World. Reprint rights remain solely with The CIO World.

7. Company Name Featuring Descrip?on Cra?ing and execu?ng company plans to increase market share and profitability is Amer's strong suit as a strategic Saudi Logis?cs Services Amer Abuobeid leader. He thrives in cul?va?ng success and growth within the h?ps://sal.sa/ Chief Commercial Officer company. Ceren is a seasoned General Management/Sales and Marke?ng execu?ve with over 20 years of experience, UNIFREE Ceren Tonguc including 4 years interna?onally. Known for growing global www.unifree.com Chief Commercial Officer brands, fostering consumer-centric cultures, and excelling in cross-func?onal sales. Erhan, with 20+ years of experience in management, manufacturing, sales, and business development, is currently Erhan Ozdemir ODE the CCO and Board Member at ODE, a prominent Turkish Chief Commercial Officer www.ode.com.tr insula?on material manufacturer. Khadija, a professional with 16 years of experience in commercial and business development, oversees commi?ees Al Ahli Holding Group Khadija Khalifa at the Emirates Weightli?ing Federa?on and serves as Group www.aahg.com Chief Commercial Officer Chief Commercial Officer at Al Ahli Holding Group. With over 25 years of experience, Nausheen has been instrumental in establishing and running commercial Nausheen Popat Lifecare Interna?onal www.lifecareinterna?onal.com opera?ons in mul?ple countries, including the UAE, Kenya, and Chief Commercial Officer Qatar. With a solid founda?on in logis?cs and business strategy, Onur Kartal is an experienced expert. Onur is essen?al to KOBIL Onur Kartal improving the company's commercial opera?ons because of www.kobil.com Chief Commercial Officer his focus on developing strategic alliances and accelera?ng corporate growth. With exper?se in alterna?ve fuels for fuel cells, Dr. Sameera Greenshield Insurance excels as the Chief Commercial Officer of an insurance Sameera Merchant Brokers LLC company, focusing on corporate development and fostering a Chief Commercial Officer www.greenshield.ae culture of human development and team building. Saqib is the GCCO at Na?onal Bonds, where he oversees wealth management, sales and distribu?on, branch networks, Saqib Mahmood Na?onal Bonds and call centers. With 32 years of professional experience, Group Chief Commercial www.na?onalbonds.ae including 21 years in banks and FIs, he brings a wealth of Officer knowledge and exper?se to his role. With a focus on strategic planning, business development, and Daman - Na?onal client management, Stuart is known for his innova?ve Stuart Leatherby Health Insurance thinking, strong leadership, and commitment to improving the Chief Commercial Officer Company communi?es he serves. www.daman.com Sunil has held various senior leadership roles within A.P. Moller- Maersk, a global leader in integrated container logis?cs. His Port of Salalah Sunil Joseph extensive experience of 22 years in GCC countries has shaped his www.salalahport.com.om Chief Commercial Officer exper?se, culmina?ng in his appointment as the CCO.

8. C T C O V E R S T O R Y 08 Sunil Joseph A Serendipitous Entry into Logistics

9. T S P R O F I L E S 16 P R O F I L E 24 P R O F I L E KHADIJA KHALIFA NAUSHEEN POPAT Steering the 25+ Years of Leadership Organization Toward at Lifecare International Sustained Success 30 P R O F I L E 34 P R O F I L E CULTIVATE, SAQIB MAHMOOD INNOVATE, ELEVATE Transforming Savings Paradigms for a Prosperous - Rajendra Parmar Society A R T I C L E S 22 38 A R T I C L E A R T I C L E STRATEGIES FOR ENFORCEMENT CHIEF COMPLIANCE FRONTIERS! OFFICERS! How Chief Compliance Meeting the Demands Ofcers Stay Ahead of of Expanded Regulatory Challenges Regulatory Issuances

10. C O V E R S T O R Y Sunil Joseph Chief Commercial Officer Port of Salalah

11. C O V E R S T O R Y Sunil A Serendipitous Entry into Logistics, When discussing our customer-centric solutions, it is essential to gain an understanding of our diverse customer base. This customer portfolio encompasses shipping lines, freight forwarding companies, and the ultimate beneciaries of cargo, namely the importers and exporters themselves. As a multi-port operation, we cater to both container terminal and general cargo customers.

12. Middle East's 10 Most Influen?al CCOs to Watch Embracing the Unexpected Path to a Satisfying and , Exciting Career in Shipping! or many of us, the idea of meticulously planning our career paths is not just a notion but a rule to live by. F We spend years in school meticulously selecting our We assist companies with global majors and seeking out internships that align with our ambitions in operating closer to envisioned futures. However, destiny has a way of stepping emerging markets without the in, often leading us down intriguing, unexpected paths, need to establish their entities or embracing serendipity, and allowing unforeseen infrastructure. This approach opportunities and chance encounters to shape our professional lives. signicantly reduces delivery lead times while maintaining cost Sunil Joseph, the Chief Commercial Officer at the Port of efciency. Notably, in Salalah, falls into the latter category. His journey into the collaboration with our shipping world of logistics began as an unexpected turn of events, line partner, Maersk, we have co- thanks to a persuasive friend who saw the potential in him. developed products like Flex-Hub. What transpired from that moment is nothing short of remarkable. Several of our customers have achieved remarkable reductions in With a career spanning an impressive 27 years, Sunil has delivery lead times, in some cases been a stalwart in the shipping industry. Starting in shipping from 12 weeks to just 2 weeks. 27 years ago, he never looked back. His journey has been nothing short of exhilarating, encompassing various facets of the shipping world that continue to fuel his passion and provide immense satisfaction. Below are the highlights of the interview: A key highlight in Sunil's career is his appointment as the The Evolution Chief Commercial Officer at the Port of Salalah in January 2020. His extensive experience of 22 years in various GCC The Port of Salalah, situated in Oman, boasts a rich history countries, including the UAE, Qatar, Saudi Arabia, Bahrain, and has transformed into a prominent international and Oman, has been instrumental in shaping his expertise. maritime hub. Its strategic location along the major East- This journey included holding several senior leadership West shipping lane positions the port as a crucial gateway, roles within A.P. Moller-Maersk, a global leader in providing exceptional access to key regions such as the integrated container logistics. Middle East, the Indian Subcontinent, East Africa, and the Red Sea. Prior to his current role, Sunil held the position of Chief Commercial Officer at APM Terminals, Bahrain. Here, he Originally known as Raysut Port, this port began its journey played a pivotal role in enhancing customer experiences as a joint venture between Sea-Land, a prominent American and boosting revenue by devising customer-centric value shipping company at the time, and the Government of propositions and innovative supply chain solutions. His Oman. Operations commenced in 1998, marking the port's educational background further complements his humble beginnings. Following Sea Land's acquisition by professional success. He holds a Post Graduate Diploma in A.P. Moller-Maersk, the Port of Salalah became a part of Finance and has received executive education from the APM Terminals, a significant player in the global terminal prestigious Columbia Business School. portfolio. Over the past 25 years, the port has made remarkable progress, evolving into a multi-faceted maritime Sunil's career trajectory exemplifies the unpredictability and facility that has played a pivotal role in the economic excitement that life can offer when one embraces development of the Dhofar region through its extensive unforeseen opportunities. His story is not just about connectivity. Today, it proudly holds the distinction of being navigating the seas but conquering them, turning each recognized as the second-most efficient port globally. challenge into a new opportunity for growth and success.

13. Customer-centric Solutions In discussions regarding Port of Salalah's commitment to customer-centric solutions, Sunil emphasized the importance of understanding their diverse customer base. This customer portfolio encompasses shipping lines, freight forwarding/Logistics companies, and the ultimate beneficiaries of cargo—importers and exporters. As a multi- port operation, they cater to both container terminal and general cargo customers. Their primary objective was to instill a customer-centric mindset within the organization. To achieve this goal, they initiated the creation of a dedicated customer care team. This team's primary focus lies in capturing, resolving, and measuring customer issues and their timely resolutions. Additionally, they've made substantial progress in digitally transforming their services, including the development of a customer portal, while acknowledging that there is more work to be done in this regard. Subsequently, Port of Salalah embarked on developing products and services tailored to meet the specific needs of its diverse customer base. These initiatives align with their overarching strategy, which aims to increase gate volume by offering value-added services and encouraging businesses to establish entities on the mainland of Oman. Within this context, they have identified three primary product categories, leveraging their strategic geographic location: • Speed to Market: Port of Salalah assists companies with global ambitions in operating closer to emerging markets without establishing their entities or infrastructure, significantly reducing delivery lead times while maintaining cost efficiency. Collaborating with their shipping line partner, Maersk, they've co- developed products like Flex-Hub, resulting in remarkable reductions in delivery lead times for their customers. • Just in Time: They offer an integrated value proposition to their customers, including services from the Salalah Supply chain eco-system i.e Port, Free Zone, and Airport, tailored to their specific requirements. • Multi-modal Solutions: This category encompasses various transportation options such as Sea-Air, Air-Sea, and Road Feeder solutions, catering to diverse logistical needs.

14. , pursued executive education programs, specifically the one offered by Columbia Education. Although the program wasn't industry-specific to shipping, it proved to be instrumental in enhancing his leadership abilities. As I began my journey in the Furthermore, his completion of a PG Diploma in Finance shipping industry, I was essentially significantly improved his financial literacy. a newcomer, armed only with my While these educational experiences weren't directly linked unbridled passion and a deep to the shipping industry, they provided him with a well- interest in the eld. It quickly rounded skill set and increased confidence, making him became evident that to realize my better equipped to face the challenges and opportunities ambitions, I needed to acquire within his chosen field. specic competencies that would enable me to progress. I embarked Insight on Success Strategies on a multifaceted learning journey, Sunil, while discussing the strategies he deems essential for with the majority of my knowledge success in the shipping industry, emphasized that in today's and skills acquired through versatile market conditions, there exists a dual imperative. practical experience on the job and This imperative entails providing products and services that with the invaluable guidance of meet swiftly evolving consumer demands, all while mentors and coaches, including my sustaining competitiveness and agility. Consequently, the adoption of innovative products and solutions is not merely subordinates and direct managers. a matter of choice but an absolute necessity. The recent global pandemic has brought into sharp focus the vulnerability of supply chains. Sunil stresses the Subsequently, Port of Salalah's commitment to fostering a importance of proactively incorporating resilience into the customer-centric approach, along with the development of business strategy to address such challenging circumstances tailored products and services, is aimed at enhancing the effectively. This approach not only enables companies to value they provide to their customers. This strategy not only withstand adversity but also positions them to excel and increases the competitiveness of their customers' products leverage adverse situations. Therefore, forward-thinking but also facilitates the growth of businesses in mainland planning assumes a pivotal role in their overall strategy. Oman. Navigating Industry Shifts Growth and Skill Development in the Shipping Industry In his role as a key player at the Port of Salalah since As Sunil embarked on his path in the shipping industry, he January 2020, Sunil has been dedicated to spearheading the was essentially a newcomer, armed only with a deep next phase of growth for the port while simultaneously passion and a keen interest in the field. It quickly became acting as a catalyst for the economic development of the evident that to realize his ambitions, he needed to acquire Dhofar region by partnering and engaging with key specific competencies that would enable him to progress. stakeholders. To achieve this, a multifaceted approach has He embarked on a multifaceted learning journey, with the been adopted, with a primary emphasis on increasing gate majority of his knowledge and skills acquired through volume and offering comprehensive integrated solutions in practical experience on the job and with the invaluable collaboration with essential partners within the supply chain guidance of mentors and coaches, including his ecosystem, including Salalah Freezone and the Airport. subordinates and direct managers. Furthermore, the Port of Salalah is actively engaged in the development of Multi-Modal solutions through Salalah. Additionally, Sunil sought knowledge from readily These endeavors are meticulously coordinated with available sources and delved into relevant literature and pertinent government entities, aligning with their books, all of which contributed to his growth and commitment to contribute to the logistics strategy outlined development. To further bolster his skills and expertise, he in the Oman 2040 vision.

15. Sunil and his team acknowledge the immense influence of the geopolitical landscape on the shipping and supply chain industries. Their approach to staying well-informed about the latest trends and developments involves maintaining close connections with their customers. By comprehending the distinct challenges and perspectives of their clientele in the face of global changes, particularly those that directly affect them, they are well-prepared to adapt and respond effectively. Operating as a port terminal places them in a unique position, allowing them to remain connected with both carriers and end-users, thereby providing a significant advantage in staying abreast of industry transformations. Regional Shipping Challenges In discussing regional shipping challenges, Sunil emphasized that one of the notable obstacles they face is the limited potential for natural gate volume that comes from consumer demands. This limitation is primarily a result of their relatively smaller population base, which, in turn, affects the attractiveness of shipping lines to provide mainline connectivity. The economics may not favor the carriers due to the limited import/export volume, leading to restricted options for customers in the liner shipping segment. To bridge this gap, Sunil and his team are in the process of stimulating gate volume growth through their product offerings which will in turn attract more liner shipping companies like other thriving ports around the world. However, it's crucial to note that despite these challenges, The Port of Salalah maintains one of the most robust regional connectivity networks, which has been consistently expanding. The primary driver behind this expansion is the presence of their largest container customer, Maersk. Leveraging their strategic geographical advantage, they have developed a comprehensive strategy aimed at A GCC Success Story generating gate volume, as previously outlined. With a rich shipping industry background spanning 27 Approach to Fostering a Collaborative Work years, his profound gratitude for his shipping career is Environment directed toward this region, where he invested a significant portion of his professional life. Sunil firmly upholds the In the conversation about cultivating a collaborative and belief that comprehending customers and their unique innovative work environment within his team, Sunil business requirements is the cornerstone of success when emphasized his strategy. He expressed, "I create an providing them with valuable solutions. His extensive atmosphere of enthusiasm by instilling the pursuit of goals experience within the GCC markets, coupled with an in- greater than individual aspirations. Regularly reviewing depth understanding of its culture and business practices, progress and providing constructive feedback play a pivotal has been instrumental in his triumphant endeavors within role in guiding them toward their desired destinations." this region.

17. Leadership is not about titles, positions, or owcharts. It is about one life inuencing another. J O H N C . M A X W E L L

18. Khadija Khalifa Chief Commercial Officer Al Ahli Holding Group

19. Middle East's 10 Most Influen?al CCOs to Watch Khadija Khalifa Steering the Organization Toward Sustained Success he commercial and business world are in a state of perpetual evolution, driven by technological T advancements, shifting consumer preferences, I have a track record of developing globalization, and emerging market trends. Businesses are strategies for both short-term results trying to adapt and innovate continuously to stay relevant and long-term objectives, showcasing and competitive in this ever-changing environment. the ability to drive revenue, optimize This ever-evolving environment motivates Khadija operational efficiency, and lead Khalifa, the Chief Commercial Officer of Al Ahli successful cross-functional teams. Holding Group, to be a part of this transformation. She has been an integral part of its journey with her diverse roles. From real estate to turnkey construction, engineering and infrastructure, retail and trade, technology and logistics, lifestyle and fitness, entertainment, hospitality, and creative ingrained in its DNA, present opportunities to contribute initiatives, AAHG has been handling commercial and be a driving force in this dynamic environment. Staying operations with success, and the major reason behind it is updated with market trends, adopting best business the presence of leaders like Khadija. practices, and understanding the economy's direction are essential for strategic thinking and planning, ensuring Khadijashedlight on her inspiring journey in this field. successful achievements. Below are excerpts from the interview! Can you please brief us about your company and its Could you please tell us about yourself and what inception story? motivated you to embark on this sector? As the Group Chief Commercial Officer of Al Ahli Holding I am Khadija Khalifa, a graduate of financial services and Group (AAHG), a four-decade corporation with a diverse banking from the Higher Colleges of Technology with over portfolio, I take pride in our successful business activities sixteen-plus years of experience in the Commercial & spanning real estate, turnkey construction, retail, Business Development field. Currently, I hold the position technology, lifestyle, and entertainment, both locally and of Group Chief Commercial Officer at Al Ahli Holding internationally. AAHG owns the first unique outlet mall Group and am the Head of the Investment, Development, concept in the Middle East, the Dubai Outlet Mall, and Al Participation, and Women’s Initiative Committee of the Ahli Plastics, one of the Middle East's largest plastic Emirates Weightlifting Federation. My journey has allowed manufacturing companies. Additionally, we launched the me to work on various projects across diversified sectors world’s largest Comic Superhero collectible store, such as Retail, Entertainment, Technology, and Fitness. Comicave, and own the largest outdoor arena, 117Live, in Dubai, hosting mega concerts like Justin Bieber, Elton The constant evolution and development in the commercial John, and Guns & Roses. and business world motivate me to be a part of this sector. Dubai and the UAE's economic cycle, which is deeply Excitingly, our future outlook is focused on growth and making a positive impact in the industry.

20. Remaining committed to our mission and values, we are sustained success, ensuring business growth, and enthusiastic about the journey ahead and achieving our maximizing revenue potential. future goals. How do you approach building and leading high- What inspired you to pursue a career in commercial performing commercial teams? Are there any specific leadership, and how has your previous experience leadership principles or strategies you prioritize? prepared you for this role? Building and leading high-performing commercial teams The inspiration for my career in commercial leadership requires strategic thinking, effective communication, and arises from my passion for driving growth, building strong fostering a positive and collaborative work environment. relationships, and navigating the complexities of the Communicating the organization's vision and goals, business landscape. The dynamic and strategic nature of ensuring team members understand their roles in the commercial leadership, where business acumen and broader commercial strategy, talent development, leadership skills intersect, has always drawn me in. With empowering team members, effective communication, over sixteen years of experience in the commercial and transparency, continuous market learning, and performance recognition are key principles. business development field, I have honed skills in negotiation, process development, risk management, and strategic decision-making. Encouraging collaboration among different departments, data-driven decision-making, mentorship, leadership My previous roles, including being a senior director in development, and continuous feedback and improvement commercial and sponsorship, equipped me with a contribute to a successful team. By adhering to these comprehensive understanding of the challenges and principles, I aim to create an environment where each team opportunities in the commercial realm. I have a track record member feels motivated, supported, and empowered to of developing strategies for both short-term results and contribute their best, leading to the development of a high- long-term objectives, showcasing the ability to drive performing commercial team that consistently achieves and revenue, optimize operational efficiency, and lead exceeds goals. successful cross-functional teams. Staying well-informed about industry trends and fostering a collaborative work In your experience, what role does innovation play in environment aligns with the demands of a commercial commercial strategy, and how do you foster a culture of leadership role. innovation within your team? As a Chief Commercial Officer, what do you believe are Innovation is a cornerstone of effective commercial the key qualities necessary for success in driving strategy, playing a pivotal role in adapting to evolving business growth and revenue? markets, staying ahead of competitors, and meeting the ever-changing needs of customers. Fostering a culture of As a Chief Commercial Officer, success in driving business innovation within the commercial team is essential for long- growth and revenue requires a combination of strategic term success. vision, leadership acumen, and a deep understanding of market dynamics. It involves developing and articulating a Strategic alignment, encouraging creativity, cross- clear commercial strategy aligned with the overall business functional collaboration, dedicated time for innovation, objectives. Analyzing market trends, identifying embracing failure as a learning opportunity, investing in opportunities, and inspiring cross-functional teams to training and development, recognition and rewards, execute the strategy effectively are essential. technology adoption, regular idea generation sessions, and measuring and celebrating success are strategies to embed Additionally, a keen understanding of industry and market innovation within the team. By incorporating these trends and staying updated on competitor activities, strategies, I aim to create a culture where innovation is not customer needs, and emerging technologies enable just encouraged but embedded in the DNA of the informed decision-making and strategic positioning. commercial team, driving continuous improvement and Success also demands innovative thinking, customer focus, ensuring our strategies remain cutting-edge and relevant. data-driven decision-making, adaptability, effective communication, and results orientation. Can you share a specific challenge you've faced in your role and how you successfully navigated it to achieve By embodying these qualities, a Chief Commercial Officer positive outcomes for the business? plays a pivotal role in steering the organization toward One significant challenge I faced in my role was the impact

21. of the 2020 pandemic (COVID-19), affecting all business sectors. The pandemic reshaped our decision-making, business conclusions, risk evaluation, and team dynamics. Through trust in Dubai’s economy and the vision of our rulers, we remained confident in overcoming this challenge. Strategic steps like thorough analysis, cross-functional collaboration, strategic planning, communication, transparency, flexibility, adaptability, employee engagement, continuous monitoring, and evaluation were taken to address the challenge. These efforts not only navigated the challenge successfully but also achieved positive outcomes for the business. The experience taught me the importance of resilience, adaptability, and collaborative problem-solving in overcoming challenges and driving positive change within an organization. How do you stay informed about market trends and customer needs, and how does this information influence your commercial strategy? Staying informed about market trends and understanding customer needs is a critical aspect of developing an effective commercial strategy. To ensure that I am well-informed and can make data-driven decisions, I employ a combination of proactive measures like continuous market research, customer feedback, and surveys, industry networking and conferences, collaboration with sales and customer support teams, utilization of data analytics, subscription to industry newsletters and blogs, competitor analysis, and cross-functional collaboration. In summary, staying informed is an ongoing and multifaceted effort that involves a combination of research, collaboration, and analysis. This information serves as the foundation for a dynamic and responsive commercial strategy that can effectively navigate the complexities of the market and meet the evolving needs of our customers. What, in your view, is the intersection between technology and commercial success? How do you leverage technology in your role? The intersection between technology and commercial success is profound and plays a pivotal

22. role in driving innovation, efficiency, and competitive • Take Initiative. advantage. In my view, technology serves as a catalyst for • Focus on Results. achieving commercial success by enabling organizations to • Mentorship and Seeking Feedback. adapt to evolving market dynamics, enhance customer • Embrace a Global Perspective. experiences, and optimize business operations. In my role, I • Cultivate Emotional Intelligence. leverage technology in several key ways, like data analytics • Demonstrate Integrity and Ethics. and business intelligence. Utilizing advanced analytics tools allows me to extract meaningful insights from vast datasets. Remember that the journey to becoming a successful I also leverage it in using customer relationship commercial leader is a continuous process of learning, management (CRM) systems, e-commerce, and digital adapting, and growing. Stay curious, embrace challenges as platforms, artificial intelligence (AI) and machine learning opportunities for growth, and be resilient in the face of (ML), cybersecurity measures, collaboration and change. By consistently adding value to your organization communication tools, innovation in product development, and demonstrating leadership qualities, you'll be well on agile project management tools, and continuous learning your way to advancing your career in today's dynamic and training platforms. In summary, the intersection business landscape. between technology and commercial success is dynamic and multifaceted. By leveraging technology strategically in Could you please let us know about any honors or awards you have received thus far in your professional my role, I aim to drive innovation, optimize processes, and career? ultimately enhance the overall commercial success of the organization. Throughout my professional journey, I have been fortunate to receive recognition for my contributions and As a leader, how do you balance the short-term goals of achievements. While I don't seek awards for personal driving revenue with the long-term vision for sustainable business growth? validation, I am grateful for the acknowledgment of my efforts. Some notable honors and awards include: Achieving the right balance between short-term revenue goals and the long-term vision for sustainable business • A ten-year service award was presented by Dubai growth, as a leader, is a nuanced challenge that requires a Holding Entertainment (before Arab Media Group) in strategic and holistic approach. The key principles and appreciation of her dedication and service. strategies that I employ to achieve this balance are a clear • An appreciation certificate was presented by the articulation of vision; alignment of short-term goals; data- Ministry of Community Development in appreciation driven decision-making; investment in innovation; agile of her positive role and her relentless pursuit of adaptation; cross-functional collaboration; customer-centric ensuring the success of Al-Sanaa Pavilion (Productive approach; talent development; risk management; and Families) in Global Village. regular performance evaluation. By employing these • An appreciation certificate was presented by the principles, I aim to create a balanced and sustainable Khalifa Bin Zayed Al Nahyan Foundation in approach to leadership where short-term successes appreciation of her sincere efforts and effective contribute to the foundation of long-term, resilient growth. contribution. This balance ensures that the organization remains • An appreciation certificate was presented by Dubai competitive in the present while laying the groundwork for Culture in appreciation of her sincere efforts in a prosperous and sustainable future. ensuring the success of the tenth edition of the “Live our Heritage (An Eye on Emirati Cultural Heritage)” Lastly, what advice do you have for aspiring commercial festival. leaders looking to advance their careers in today's dynamic business landscape? While I appreciate the recognition, I view these honors as shared achievements, reflective of the collaborative efforts For aspiring commercial leaders navigating today's dynamic of the teams I have had the privilege to work with. I remain business landscape, I would advise doing the following: committed to continuous improvement and contributing positively to the success of both my team and the • Develop a Strong Business Acumen. organization. • Continuous Learning. • Build a Diverse Skill Set. • Effective Communication. • Network and Build Relationships. • Adaptability and Resilience.

23. them with ethical excellence., , , , The true test of compliance is not just meeting regulatory requirements but exceeding www.thecioworld.com

24. Meeting the Demands of Expanded Regulatory Issuances 22 February, 2024 www.thecioworld.com

25. Strategies for Chief Compliance Officers! re you ready to handle all the rules businesses have needed. They should always try to get better and learn new to follow these days? This question is important for things to keep the company safe. A Chief Compliance Officers (CCOs), whose job it is to make sure their companies follow lots of regulations. It's also important to teach and train people well. With rules getting more complex, CCOs feel more pressure Companies should help their workers learn about rules and to keep up and make sure their companies do everything how to follow them. By teaching and training well, right. To succeed in this environment, CCOs need smart Compliance Officers can make sure everyone knows what strategies to manage compliance well and avoid problems. to do and how to do it right. Being a compliance officer has changed a lot lately. It's not Using a "risk-based" way to follow rules is also very just about watching things anymore. Compliance officers helpful. This means focusing on the most important rules are now very important for how a company works. They first. Compliance Officers can look at all the rules and see have to protect the company's reputation and make sure it which ones are most likely to cause problems. Then they follows laws and morals. With more rules coming from can focus on those rules first to keep the company safe. different places, the job of compliance officers is getting bigger and more complicated. In conclusion, being a Compliance Officer today is hard work. With many rules to follow, Compliance Officers need Today, following rules isn't just about obeying them. It's to have good plans to do their job well. By making also about being ready for new rules before they come. everyone care about rules, using technology, working Compliance officers need to think ahead and have good together, being flexible, teaching well, and focusing on plans to understand and follow new rules. Here, we will important rules, Compliance Officers can help their look at some important plans that help compliance officers companies follow rules better. As leaders in making sure follow the new rules well. companies do the right thing, Compliance Officers play a big role in keeping companies safe and trusted by everyone. First, it's very important to make everyone in the company care about following the rules. Rules should be part of - Alaya Brown everything the company does. If everyone cares about following rules, it makes the company stronger and less likely to break them. Also, using technology is very helpful for compliance officers. In today's world, technology can make following rules easier and faster. Computers and smart tools can help with many tasks, like watching for problems and understanding rules better. This helps compliance officers see problems early and make better choices. Working together is also very important. Compliance officers need to work well with other parts of the company, like the bosses, legal team, risk management, and different departments. By working together, they can understand the whole company better and find and fix problems faster. It's also good to work with people outside the company, like other companies and government groups. This helps everyone learn from each other and do better. In a world with many changing rules, being able to change and learn quickly is very important. Compliance officers need to be flexible and able to change their plans when 23 February, 2024 www.thecioworld.com

26. A Visionary Leader's Journey to Bring Quality Healthcare One of Nausheen's exceptional achievements has been her Access to Kenya and Beyond! pivotal role in securing and maintaining Lifecare's ISO certification. Her dedication to operational excellence and magine this: you or a loved one has fallen ill, and it's her ability to forge strategic partnerships have played a vital not just a common cold. You're facing a serious role in Lifecare's incredible 96% retention rate, a testament I medical condition that requires immediate attention. In to her dedication and expertise. the midst of doctor's appointments, tests, and discussions of treatment options, the overwhelming fear of the unknown Nausheen Popat's journey exemplifies the transformative sets in. How will you pay for it all? Will you have to power of vision, persistence, and the drive to make a compromise on the quality of care due to financial meaningful impact on people's lives. Her work at Lifecare constraints? International not only offers comprehensive insurance solutions but also delivers peace of mind, ensuring that In such moments, your focus should be on recovery, not on individuals and families across the Middle East and Africa the financial burden that comes with it. A reliable health can confidently face whatever challenges life may bring. insurance plan gives you the peace of mind to focus on She is not only a business leader but also an active member what truly matters—your health. of YPO and the Dubai Business Women Council, continuing to inspire and empower others on their paths to Nausheen Popat, the Co-founder and Chief Commercial success. Officer (CCO) of Lifecare International, recognized this crucial need and embarked on a remarkable journey to Below are the highlights of the interview: transform the health insurance landscape in Kenya and beyond. Could you please us about your company and its inception story? Two decades ago, health insurance in Kenya was virtually nonexistent. However, Nausheen and her husband, Alniz Lifecare International is a leading insurance, health, and Popat, both of whom had experienced firsthand the power wellbeing advisor in the Middle East and Africa, offering a of reliable health insurance in their own families, range of bespoke insurance and award-winning workforce understood the immense value it could bring during times care and wellbeing solutions. of need. With this vision in mind, they set out to make a difference. Having had a posi?ve insurance At Lifecare International, Nausheen leads the charge as the CCO, overseeing all aspects of the company's commercial experience in the family, alongside my function. Her responsibilities encompass the full spectrum husband Alniz Popat, we realized the of strategy and management, with a strong focus on power and importance of a reliable health business growth and retention. With over 25 years of insurance plan during a ?me of need that experience, Nausheen has been instrumental in establishing completely eliminates your financial stress, and running commercial operations in multiple countries, which led us to embark on this journey. including the United Arab Emirates, Kenya, and Qatar.

27. Middle East's 10 Most Influen?al CCOs to Watch Nausheen Popat Co-founder and Chief Commercial Officer Lifecare Interna?onal

28. because they then amplify that care externally—to clients and partners alike. Our dedicated team ensures our clients are given guidance at every step of the way, often during a health crisis when it is needed most. Furthermore, we value lifetime relationships with clients, as indicated by our promise: we care for you for life. Our happy clients tend to stay with us year after year after realizing the value we bring, which has resulted in referrals from their own networks. This has been an extremely large growth area for us over the years. Business growth has also been largely brought about by our unique and complimentary value-added proposition, Over the last 30 years, Lifecare International has obtained a CURA. We realized that, while extremely important, reputation for excellence and continues to serve a very sometimes just insurance coverage isn’t enough, which led simple purpose: to help everyone protect and care for those to its inception. CURA enables our clients to access that matter most. Addressing the needs of large immediate, international, round-the-clock, and real-time corporations, SMEs, and individuals, Lifecare employs over medical, security, travel, care, assistance, and support 150 workforce members across the UAE, Qatar, and Kenya, services. The partners we have selected for the CURA delivering value in the medical insurance, general portfolio are the best of their kind. The spectrum of benefits insurance, and life insurance lines. includes everything, including pro-active health and well- being, time-saving digital tools, crisis response, fast-track Having deep ties to the international medical insurance services, cost-containment initiatives, wellness screenings, industry, we work with over 40 insurers across the market. and much more. Lifecare is equipped with a 24/7 Concierge, Doctors Helpline, and Emergency Assistance Desk, the company How do you identify and capitalize on new business values lifetime relationships and is consumed by the opportunities in the market, and can you share some passion to deliver extraordinary care at a time when it is examples of successful partnerships or collaborations needed most. that you have initiated to expand the company's market presence? Our secret to keeping our customers happy has been to be caring and supportive of their needs and emotions at every Lifecare’s approach is consultative, not just sales and step of their journey with Lifecare. Lifecare prides itself on transactional. New business opportunities have come from a integrity, superior customer relationship management, and range of avenues, often through referrals from existing support, and displays a high level of empathy and clients who are grateful and satisfied with the level and compassion toward clients. Lifecare’s incredible 96% quality of services. We have also formed associations with retention rate is a testament to these company values, as niche groups such as doctors, lawyers, and entrepreneurs, to they serve as the backbone of our corporate culture. name a few. Other initiatives have included working with Furthermore, our retention rate is a testament to client allied partners, introducers, and industry events and satisfaction, who repeatedly renew their contracts to leveraging online platforms to form these partnerships. continue reaping the benefits of excellent care and customer service. With over 3 decades of operation and as one of the first distributors of international insurance products in Kenya, What strategies do you employ to drive revenue growth the UAE, and Qatar, we have deep ties into the International and enhance the company's commercial performance? Premium Medical Insurance market, which has established our credibility and expertise in the industry, paving the way Lifecare is a family-run company that leads with family for enhanced collaboration and partnerships. values. That being said, our number one priority is caring for our workforce and people; nothing is more important How do you ensure effective communication and than this, as revenue growth and commercial results are alignment between the sales, marketing, and business direct results of your workforce. Our mission is to deliver development teams? unmatched care, both externally and internally, and when delivered across your people, you can never fall short

29. As the CCO, ensuring effective communication between the conduct business but also in conversations with clients. sales, marketing, and business development teams falls Market intelligence and trends are brought about by our under my remit. We operate with a commitment to working deep relationships with insurance providers, in addition to in teams rather than silos and adopt frequent our in-house communications department that prepares and communication through leveraging digital platforms and shares monthly intelligence reports, which keep our entire consistent update and feedback meetings. In my experience, workforce updated on the evolving landscape both locally the only way to ensure effective communication is through and internationally. I often attend events, roundtables, and establishing clear objectives and KPIs, communicating new strategic discussions with industry peers and market leaders developments, reinforcing teamwork through company to continuously learn and stay updated. culture, and providing training, support, and encouragement to team members on an ongoing basis. Client feedback is at the core of our business. Through tracking survey responses, client servicing, claims data, and What metrics do you use to measure the success of your client testimonials, we often enhance our solutions and commercial initiatives, and how do you track and CURA proposition to ensure we don’t just meet what our analyze these metrics? clients need; rather, we go above and beyond. Remaining agile is a combination of adopting client feedback in The success of commercial initiatives can be measured conjunction with leveraging in-house expertise and through both quantitative and qualitative methods. As a experience. niche broker, our clients are not just a number; rather, we pride ourselves on strong client relationships and guide How do you foster a culture of innovation and them every step of the way, while truly valuing their continuous improvement within the commercial team? feedback as a qualitative metric. In addition to this, we measure ourselves against KPIs that are set on a quarterly Fostering a culture of innovation and continuous improvement is extremely important to the organization and basis, alongside the strategy set for the year. In our mission begins with a top-down culture, enabled by our leadership to remain agile, we also adapt our strategy based on team, which aims to lead by example. We seek to create a external influences or changing market dynamics. As a culture of curiosity where we encourage team members to tech-enabled company, we leverage several digital tools to begin initiatives, participate in change discussions, engage track and analyze these results and, more importantly, in cross-functional collaboration and knowledge-sharing, determine the best way forward. and embrace calculated risk-taking. We invest in the How do you stay updated with the latest market trends development of our A players and those who demonstrate and customer preferences to inform your commercial curiosity and the desire for lifelong learning by promoting strategies? various courses and educational opportunities that enable learning and innovation. Market intelligence is an extremely important way to ensure you remain relevant and current, not just in the way you

30. beyond with their welfare activities and services. A lot Our secret to keeping our customers of engagement activities and wellness programs are happy has been to be caring and arranged by the team. Overall, the service is excellent. suppor?ve of their needs and emo?ons at Keep up the good work! every step of their journey with Lifecare. Lifecare prides itself on integrity, superior Our Awards: customer rela?onship management and 2023 support, and a high level of empathy and compassion toward clients. • Best Workplace Wellbeing Advisors, The UK Health & Protection Awards 2023 What qualities do you believe are essential for a Chief • Best International Individual Client Advice Firm, The Commercial Officer to possess in order to drive business UK Health & Protection Awards, 2023 growth and success? • Best Use of Loyalty and Rewards Programs to Enhance Customer Happiness, Customer Happiness Summit & Essential qualities for a CCO would include having a strong Awards, 2023 ethical foundation, empathy, fairness, understanding • Customer Happiness Team of the Year, Customer cultural nuances, and valuing diversity in all its forms: Happiness Summit & Awards, 2023 gender, nationality, ideas, opinions, and approaches. • Top Performer: Individual Client Retention, Bupa Embracing diversity isn’t just the right thing to do; it has Global, 2023 been proven time and time again that it leads to better • Top Producing Broker: Middle East and Africa, Cigna, commercial outcomes and makes good business sense. As 2023 an organization run by over 60% women, we have • Outstanding Contribution to Corporate Social witnessed the value it brings. The skills that have enabled Responsibility award, Allianz, 2023 me to be a CCO are strategic thinking, leadership, • Allianz Summit Sales Champion Award Qatar, Allianz, adaptability, analytical thinking, and customer-centricity. 2023 • Best Employer Brands, Middle East Leadership Furthermore, valuing lifetime relationships extends beyond Awards, 2023 clients and applies internally within our workforce. • Best Community Impact Initiative (Gold), Employee Through inspiring, motivating, empowering, and mentoring Happiness Summit & Awards, 2023 your team, you can truly develop and retain talent, as evidenced by the tenure of the Lifecare team, with 2022 numerous members serving for over 10 years in an industry that typically has a high turnover rate. • Delivering Customer Happiness in Times of Crisis: Going Above and Beyond, Customer Happiness Please give us a few testimonials from your clients and Summit & Awards, 2022 awards or recognition that accurately highlight your • Best Use of Loyalty and Rewards Programs to Enhance achievements in the corporate niche. Customer Happiness, Customer Happiness Summit & Awards, 2022 Our testimonials are publicly available via Google reviews; • Best Corporate Health Insurance Brokerage, UAE, a few are mentioned below: CFI, 2022 • Business Integrity Award by the British Chamber of • Testimonial 1: Lifecare has been instrumental in Commerce in Kenya providing our employees with the much-needed • Think Business Insurance Awards 2022, 2nd Runner resources to ensure that our emotional well-being is Up, The Most Customer-Centric Broker in Kenya balanced and healthy. Special thanks to our Lifecare • Rising Star SME, Cigna, 2022. RM, who made sure we avail of Lifecare's Value Proposition! Kudos to the Lifecare Team! • Testimonial 2: The Lifecare International team is very supportive and approachable. They go above and

31. Success is not how high you have climbed, but how you make a positive difference to the world. - Roy T. Bennett www.thecioworld.com

32. Sowing the Seeds of Success through Vibrant For me, “Culture is feelings.” Organizational Culture! • Communication creates Experience. y name is Rajendra Parmar, and I work as the • Experience creates Emotions. COO for VeBuIn Pvt. Ltd. The journey of the • Emotions create Feelings. M entrepreneur started in April 2015. • Company CULTURE refers to the beliefs and behaviors that determine how a company's members As the COO and Co-Founder of VeBuIn, a company that interact and handle situations outside as well as inside. provides innovative solutions for clients, I have been leading the operations and strategy of the business since Potential Benefits of Culture 2015. I have over 15 years of experience in software development, system analysis, and client management, with • A positive and inclusive culture encourages a sense of a strong background in C programming and shell scripting. belonging among employees. When individuals feel connected to their workplace, they are more likely to My mission is to solve clients' problems and deliver better be engaged, satisfied, and motivated to contribute their solutions with suitable technologies while creating a best efforts. positive and collaborative work environment for my team. I • A strong organizational culture can drive higher levels have successfully implemented multiple projects for of productivity and performance. When employees Japanese clients. understand the values and goals of the organization, they are more likely to work together towards common For me, technology is just a tool to solve a client’s problem. objectives. (We are using OKR for the same.) Clients' problems always come first, and to solve those • A positive culture can contribute to employee retention problems, we can use tools like technology. To understand by creating a work environment that people enjoy the client’s problem, empathy is required. If we are not able being a part of. It can also attract top talent. It will to understand the problem properly, we might not be able to empower the individual. propose a better solution. • A culture that encourages creativity and risk-taking is more likely to encourage innovation. When employees Since childhood, I have believed in person-to-person feel empowered to express their ideas without fear of relationships. In this digital world where most things can be criticism, it can lead to the development of new and done by systems or tools, human touch is very important. innovative solutions. By taking a challenge, if they fail, then the company should also appreciate it. For any company, how it is going to perform in the future • Organizations with a strong culture are often more depends on its culture. If companies can build a strong adaptable to change. A culture provides a foundation cultural base, it can last for longer periods. that helps employees navigate through uncertainties and challenges, promoting resilience and flexibility. I would like to share my views on the importance of how culture plays a crucial role in shaping an organization's identity and impacting its overall success. 30 February, 2024 www.thecioworld.com

33. Ways to Build an Organizational Culture 1. Define Mission and Vision for the Company: A clear mission and vision are very important. Bringing people together for a common goal is a challenge, and for that, mission and vision are required. My company’s mission and vision are “We Build Innovation for a Better Society.” 2. Define Core Values: Clearly define and communicate the core values that represent the organization's beliefs and principles. These values should guide decision- making and behavior at all levels. My company VeBuIn’s core values are empathy, safety, reliability, lean and agile, shared values, and a growth mindset. 3. Lead by Example: Leadership plays a critical role in shaping culture. Leaders should be involved and demonstrate the desired cultural traits, serving as role models for employees. 4. Employee Involvement: Encourage employee participation in shaping the culture. Seek their input on values, goals, and initiatives, making them feel like active contributors to the organization's identity. Communication and Feedback: Encourage open and 5. transparent communication. Regularly share information about organizational goals, successes, and challenges. We are doing the following at VeBuIn. • Morning Meeting (Weekly Once): Important Announcement to All, whether it is success or failure. Remind everyone about core values. • One-on-One Meeting: Individual opinions and concerns should be taken care of. Progress should be measured. • Get to Gather and Celebrate: Everyone shares culture with each other, and everyone participates along with family. It shows that all the members are one family. • Regular feedback is as important as communication. It will become the basis for our process improvement. 31 February, 2024

34. 6. Recognition and Rewards: Acknowledge and reward behaviors that align with the desired culture. Recognition programs can reinforce positive contributions and motivate employees to express cultural values. Implementing thank-you cards in the company. For any good work, a person gets a thank- you card from other members. 7. Employee Empowerment: Invest in training programs that align with the organization's culture. This helps employees understand and internalize the values and expectations. Empowering the employees will directly strengthen the company. Create an environment where everyone will be encouraged to study and learn new things. 8. Promotion Based on Performance, Not Age: Create a culture that values diversity and promotes inclusivity. Embrace different perspectives, backgrounds, and experiences to enrich the organizational environment. 9. Ethical Behavior and Decision-Making: Culture sets the tone for ethical behavior within the organization. A strong ethical culture promotes integrity and guides employees in making ethical decisions. Encourage everyone to protect the core values of the company. Company Brand Image: The culture of a company 10. contributes to its overall brand image and reputation. A positive culture can enhance the company's reputation both internally and externally. Long-Term Success: A healthy organizational culture 11. is a key factor in achieving long-term success and sustainability. It provides a foundation for strategic alignment, organizational resilience, and the ability to weather challenges. In conclusion, company culture is a fundamental and dynamic force that profoundly shapes the identity and success of an organization. It encompasses shared values, beliefs, behaviors, and norms that guide how individuals within the company interact and operate. A positive and well-defined culture contributes to employee engagement, satisfaction, and retention, fostering a sense of purpose and unity. Let’s put more effort into culture-building. 32 February, 2024 www.thecioworld.com

36. Middle East's 10 Most Influen?al CCOs to Watch ith some of the greatest living standards in the In addition to his professional accomplishments, Saqib's world, the United Arab Emirates (UAE) is an leadership style is distinguished by empathy, integrity, and a W example of affluence. From luxurious genuine desire to uplift people. He leads by example, accommodations to world-class amenities, the UAE offers a motivating his team to achieve new heights of brilliance lifestyle that many aspire to. However, this affluence often while cultivating a collaborative and inventive culture. comes with a high expenditure ratio, leaving individuals and families susceptible to financial instability when faced Below are the interview highlights: with unexpected challenges. Can you please brief us about your company and its Recognizing the challenge, National Bonds' objective inception story? struck a deep chord with me, says Saqib. Saqib Mahmood serves as an amplifier of encouragement and leadership. As National Bonds is a private joint stock shareholding National Bonds' Group Chief Commercial Officer, his company, established in March 2006 with a paid-up capital career path exemplifies perseverance, ingenuity, and an of AED 150 million. National Bonds is a leading abiding commitment to societal change. investment and savings company that caters to a substantial and diversified client base of retail customers, high-net- With a career spanning over three decades, Saqib's expertise worth individuals, and corporations. It is 100% owned by and influence extend far beyond the boardroom. His role as The Investment Corporation of Dubai, the investment arm Group CCO entails overseeing critical facets of National of the Dubai government, licensed and supervised by the Bonds, from wealth management to sales and distribution, Securities and Commodities Authority, and audited by the branch networks, and digital offerings. It's a multifaceted Dubai Government Financial Audit Authority, Sharia responsibility that demands strategic vision and operational Supervisory Board, as well as reputable international excellence, qualities that he effortlessly embodies. external auditors. But for him, success is not merely measured in profits and How has your previous experience prepared you for this numbers; it's about making a meaningful impact on society. role, and what motivated you to embark on this sector? The visionary commitment of National Bonds to foster a savings culture resonates deeply with his personal ethos. In Following many years in the banking and financial sector, a society where spending habits often outpace savings, I've garnered invaluable insights into market cycles, Saqib saw an opportunity to effect positive change. Driven particularly underscored by the seismic shifts witnessed by the company's mission, Saqib embarked on a mission to during the multiple economic hits over the years. Whether it introduce a simple, efficient, and accessible savings was purely economic, political, or even health-related, such platform across various segments of society. His as COVID-19, our pockets were affected one way or unrelenting dedication to this cause reflects a deep-rooted another. I, and most people all around the world as belief in the transformative power of financial literacy and consumers, began thinking differently about money and responsibility. how they wanted to spend it or save it. Our habits have

37. Saqib Mahmood Group Chief Commercial Officer Na?onal Bonds

38. evolved, as many people have spent without a budget or set up savings accounts and emergency funds. On a personal level, and as the father of three university- and school-going kids, I have realized that savings and investments in the long run have made me more financially confident. As the family patriarch, securing my family and children's financial future through having an emergency fund, education fund, and retirement plan in place made specific leadership principles or strategies you prioritize? me think about money and how it should be spent differently. I prioritize two key principles: clarity of strategy and understanding overarching goals. A clear strategy outlines objectives and action As a Chief Commercial Officer, what do you plans, ensuring everyone knows their role. Understanding the believe are the key qualities necessary for success broader purpose behind our work motivates and engages the team. I in driving business growth and revenue? foster open communication, empower individuals, and provide ongoing feedback to keep us on track. By adhering to these I believe key qualities for driving business growth principles, I lead teams that consistently deliver exceptional results. are fundamental aspects of knowing your existing and potential customers together with industry In your experience, what role does innovation play in knowledge, fostering a healthy team environment, commercial strategy, and how do you foster a culture of and maintaining a clear long-term strategy. innovation within your team? Therefore, understanding market trends and competitor analysis allows for informed decision- Innovation is pivotal to our commercial strategy, driving growth making to drive revenue growth. Cultivating open and competitiveness. Understanding diverse customer needs and communication and collaboration empowers the addressing them is integral to crafting this strategy. In customer- team to innovate. A clear long-term strategy, focused organizations, innovation flows. To give an example, we outlining objectives and action plans, ensures have created many products following surveys that we conduct alignment and focuses efforts on activities driving with our customers to cater to their various needs. For example, last sustainable growth and revenue. year, we launched two products that cater to different segments of society: the 'Second Salary,' the first-of-its-kind savings plan How do you approach building and leading high- designed to help UAE residents and citizens generate performing commercial teams? Are there any

39. supplementary income and safeguard their future financial implementing cutting-edge AI solutions. This includes stability. Later, we launched 'My One Million', a savings revamping our backend systems to streamline processes and plan designed with a clear goal in mind, which is to enhance efficiency. empower individuals and corporations to amass a substantial AED 1 million through a combination of savings A prime example of our commitment to leveraging and cumulative profits, all within a specified timeframe. technology is the remarkable trajectory of our enhanced mobile app. With a user growth of over 300% throughout Can you share a specific challenge you've faced in your 2023, this demonstrates not only our adaptability to the role and how you successfully navigated it to achieve digital era but also our dedication to providing an enriched positive outcomes for the business? and accessible financial experience for our diverse customer segments. Over the past couple of years, we have faced increased competition from financial institutions offering higher On an individual level, I actively leverage technology to profits or interest rates, coupled with the burden of inflation. drive commercial success by utilizing data analytics to make informed decisions, implementing automation to streamline To address this, I conducted a thorough market analysis and processes, and harnessing AI to personalize customer devised strategies for various customer segments. We experiences. By staying at the forefront of technological enhanced our value proposition with personalized services innovation, we can better serve our customers, optimize our and transparent communication, and we diversified our operations, and ultimately drive commercial success. product portfolio. Through these efforts, we successfully navigated the challenge, retaining our customer base and establishing ourselves as a trusted partner for long-term As a leader, how do you balance the short-term goals of financial success. driving revenue with the long-term vision for sustainable business growth? How do you stay informed about market trends and customer needs, and how does this information influence At National Bonds, we focus on the long run by prioritizing your commercial strategy? sustainable business. This is evident in the company's low- to-medium-risk investment policy, which has shielded us On an annual basis, we conduct a detailed survey and from the negative repercussions of unfavorable economic generate a Savings Index, a survey on saving behavior in and financial developments around the world. the UAE. Through this report, which was first launched in 2011, we aim to understand the behavior of the people in While driving revenue is important, I ensure that our the UAE and tailor National Bonds' programs and schemes strategies align with our commitment to long-term to align with people's aspirations, ultimately enhancing their sustainability. By focusing on prudent investment practices financial well-being. Recently, we conducted a financial and maintaining a keen eye on market trends, we aim to resolution survey for the first time since its inception. This achieve consistent growth while mitigating risks. This survey sheds light on the financial behavior, saving approach allows us to meet immediate financial goals while aspirations, and trends prevalent among both UAE nationals also safeguarding the future health and stability of the and expatriates across different generations. The survey business. gave us a crucial understanding of the financial aspirations of the people in the UAE and guided us in creating innovative savings and investment solutions tailored to our customers' needs while contributing to the evolving financial landscape in the UAE. What, in your view, is the intersection between technology and commercial success? How do you leverage technology in your role? At our organization, we've recognized the importance of technological advancement and have made substantial investments in upgrading our IT infrastructure and

40. How Chief Compliance Ofcers Stay Ahead of Regulatory Challenges 38 February, 2024 www.thecioworld.com

41. Enforcement Fron?ers! ompliance isn't just about checking boxes; it's about In an era characterized by rapid technological advancement keeping ahead of the curve in a constantly evolving and globalization, regulatory frameworks are constantly C regulatory landscape. In today's global business evolving to address emerging risks and challenges. CCOs environment, the role of Chief Compliance Officers (CCOs) must, therefore, cultivate a culture of continuous learning has never been more critical. With regulations becoming within their organizations, keeping abreast of regulatory increasingly complex and enforcement actions more developments and industry trends. By fostering a culture of stringent, companies face significant risks if they fail to compliance that values education and awareness, CCOs comply with legal requirements. From financial services to empower their teams to adapt to regulatory changes swiftly healthcare, from technology to manufacturing, industries and effectively. across the spectrum grapple with a myriad of regulations that demand constant vigilance and adaptation. Moreover, effective communication lies at the heart of successful compliance efforts. CCOs must establish open Chief Compliance Officers are the guardians of channels of communication across all levels of the organizational integrity, entrusted with the formidable task organization, ensuring that employees understand their of navigating this intricate web of regulations while compliance obligations and feel comfortable seeking ensuring that their companies remain ethically and legally guidance when confronted with complex regulatory issues. sound. By fostering a culture of transparency and collaboration, CCOs facilitate the timely identification and resolution of In this article, we delve into the strategies and best compliance-related concerns, mitigating the risk of non- practices that CCOs employ to stay ahead of regulatory compliance. challenges, safeguarding their organizations against potential pitfalls and reputational harm. In addition to internal communication, CCOs must also maintain constructive relationships with external One of the fundamental principles guiding CCOs in their stakeholders, including regulators, industry peers, and mission is proactive compliance. Rather than merely compliance professionals. By actively engaging with reacting to regulatory changes as they occur, forward- regulatory authorities and participating in industry forums, thinking CCOs adopt a proactive stance, anticipating shifts CCOs gain valuable insights into evolving compliance in the regulatory landscape and preparing their standards and regulatory expectations. Furthermore, by organizations accordingly. This proactive approach involves leveraging their networks, CCOs can benchmark their staying informed about emerging regulations, organizations' compliance practices against industry best understanding their implications, and implementing practices, identifying areas for improvement and preemptive measures to ensure compliance. innovation. 39 February, 2024 www.thecioworld.com

42. Technology plays a pivotal role in modern compliance culture of responsible risk-taking and innovation, driving efforts, offering CCOs powerful tools to streamline sustainable growth while safeguarding organizational processes, enhance efficiency, and mitigate risks. From integrity. automated monitoring systems to sophisticated data analytics solutions, technology enables CCOs to proactively Moreover, CCOs must remain vigilant against emerging identify potential compliance issues, monitor regulatory risks and vulnerabilities, anticipating potential compliance changes in real time, and conduct comprehensive risk pitfalls before they escalate into a full-blown crisis. By assessments. By harnessing the power of technology, CCOs conducting regular risk assessments and scenario planning can optimize their organizations' compliance programs, exercises, CCOs can identify and prioritize key compliance ensuring robust oversight and control over regulatory risks. risks, allocating resources effectively to mitigate exposure. Furthermore, by fostering a culture of risk awareness and However, while technology can undoubtedly augment accountability, CCOs empower employees at all levels to compliance efforts, it is essential to recognize its proactively identify and address compliance concerns, limitations. As the regulatory landscape becomes fostering a resilient and adaptive compliance culture. increasingly complex, CCOs must exercise caution when relying solely on technology-driven solutions. Human In conclusion, the role of Chief Compliance Officers has judgment and expertise remain indispensable in navigating never been more critical in today's complex and dynamic nuanced regulatory issues and interpreting complex legal regulatory environment. By adopting a proactive approach requirements. Therefore, while technology can enhance to compliance, fostering a culture of continuous learning efficiency and accuracy, CCOs must strike a balance and communication, leveraging technology effectively, and aligning compliance objectives with business priorities, between automation and human oversight to ensure CCOs can stay ahead of regulatory challenges, safeguarding effective compliance management. their organizations against potential risks, and ensuring Amidst the evolving regulatory landscape, CCOs face the long-term success. In an era defined by regulatory scrutiny daunting challenge of balancing regulatory compliance with and accountability, the role of the Chief Compliance Officer business objectives. While compliance is non-negotiable, is more vital than ever, serving as a beacon of integrity and CCOs must also consider the broader strategic goals and stewardship in an increasingly complex business landscape. risk appetite of their organizations. By aligning compliance objectives with business priorities, CCOs can foster a - Alaya Brown 40 February, 2024 www.thecioworld.com

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