Role : Manager - Shari'a Compliance Department
Location : Abu Dhabi
Role Purpose:
Assisting in maintaining the Shari’a Compliance in ADIB Group by raising and continuously monitoring the level of compliance with the Higher Shari’a Authority (“HSA”) resolutions and the CBUAE regulations and standards related to Shari’a compliance across the bank as per the Shari’a Compliance Dept. (“SCD”) and Internal Shari’a Control Group (“ISCG”) policies and procedures and directions.
Key Accountabilities of the role
To ensure that all departments in ADIB Group are operating within the Shari'a framework decided by HSA.
- Assessing activities, products and services (and related agreements, contracts, forms and documents) that will be conducted or executed by ADIB Group to make sure that they are in line with the resolutions of HAS resolutions and related ISSC resolutions.
- To follow up the implementation of (and adherence to) any new HSA resolutions through conducting Gap Assessments via the available systems as per the SCD policies and procedures.
- To assist in translating, where applicable, the HSA resolutions and ensure accuracy before dissemination to stakeholders.
- To conduct assessment and testing of the Shari’a Compliance matters including Shari’a Non-Compliance (SCN) Risks in accordance with the SCD’s testing methodology policy.
- To assist in making sure that the CBUAE Shari’a Governance Standard, Shari’a Compliance Function Standard, and other Shari’a Standards and Frameworks are implemented at all levels in ADIB Group.
- To assist in reviewing new policies and procedures, frameworks and other related documents to make sure that they are in line with the Shari’a compliance requirements.
- To provide advices (as delegated by Head of SCD) in respect of Shari’a compliance to all levels and departments in ADIB Group.
- To raise to Head of SCD the deviation from the HSA resolutions to be discussed with the Head of ISCG and respected Internal Shari’a Supervisory Committee (“ISSC”).
- To participate in increasing Shari’a compliance awareness in ADIB Group by the participation in conducting regular trainings, where required.
- To prepare the relevant and regular Shari’a compliance reports, that are required to be submitted to ISSC and then to the ADIB Group CEO, and submit them to the Head of SCD in timely manner.
- Follow up with stakeholders to ensure the reports’ action plans taken are raised (as issues) in the relevant system, and are fully and properly implemented and closed in timely manner by reviewing and verifying the provided evidences.
- Adhering in meeting all pre-set deadlines as defined and/or instructed by the Head of SCD.
- Provide ongoing (on-job-training) and guidance to all subordinate staff in order to improve the awareness and the level of Shari’a compliance knowledge and related skills.
- Review and approve goals and objectives for all subordinate staff in line with job profile, plans, staff skills and the Shari’a Compliance strategy.
- Comply with any additional tasks, which could be assigned by Head of SCD.
- To assist in the coordination with ISCG’s departments regarding the improvement of work quality.
- Ensure satisfactory behaviour, punctuality and attitude, and comply with all HR, Compliance and other internal governance Policies and Procedures.
- Comply with any additional tasks, which could be assigned by the Bank’s management and/or the Head of ISCG.
Specialist Skills / Technical Knowledge Required for this role:
. Bachler Degree in Islamic banking or equivalent.
2. Strong academic skills or experience in Shari’a compliance.
3. AAOIFI CSAA and/or CIPA certifications (or alternative certifications).
4. Strong knowledge of banking and Islamic banking products.
5. Strong knowledge of AAOIFI Shari’a Standards.
6. Excellent communication and presentation Skills.
7. Reasonable legal and compliance background.
8. Ability to balance between compliance requirement & business needs.
9. Fluent/proficiency in Arabic and English.
Previous experience:
(7) years of experience in Shari’a related functions in Islamic banking.