Avp- Shariah Compliance - Dubai, United Arab Emirates - bankfab

bankfab
bankfab
Verified Company
Dubai, United Arab Emirates

2 weeks ago

Ahmed Al-Mansouri

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Ahmed Al-Mansouri

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Description
Full-time

  • Division: Group Risk Management
  • Sub Division: Group Operational Risk, Fraud Risk & Risk Assurance

Company Description:


Now it's your time to join the #1 bank in the Middle East and one of the most prestigious financial companies in the region.

Shaking up the world of banking requires a lot of smarts and skill.

We're looking for the brightest and best to help us reach our goals and we'll also help you reach yours.

Your success is our success as you grow stronger in your career. Join us and leave a legacy of your own, as a pioneer in both the company and the industry.


JOB PURPOSE:


Assist in managing compliance-related matters for FAB's Islamic banking activities within the bank and ensuring that Shariah compliance program is effective in ensuring that the activities and operations carried out by FAB do not contravene with Resolutions of Higher Shariah Authority (HSA), Central Bank of UAE, Internal Shariah Supervision Committee and all other related laws, rules and regulations relating to Islamic banking.


Provide compliance advisory support to Islamic banking business line and other related enablement functions to ensure compliance with the rules, regulations and best practice.

Oversee Shariah Compliance programs for all Islamic banking activities in the international locations where FAB is present.


KEY ACCOUNTABILITIES:


Job Specific Accountabilities

  • Assist Head of Shariah Compliance in creation, implementation and monitoring of Shari'ah Compliance framework and plans for FAB that properly address Shariah compliance needs and requirements in line with Resolutions of Higher Shariah Authority (HSA), Central Bank of UAE, Internal Shariah Supervision Committee and all other related laws, rules and regulations relating to Islamic banking.
  • Provide timely compliance advisory and support to the Islamic banking business to ensure Islamic banking products and services offered by the bank adhere and comply with relevant regulatory guidelines/policies and shariah principles/standards which focuses on.
  • Build and maintain productive business relationships with business partners, including with respect to jurisdictions in FAB's international network where Islamic products are marketed and made available to clients (notably KSA, Switzerland, the UK and Singapore)
  • Provide compliance advice to the business on Islamic and Sharia regulatory developments from all impacted regulatory jurisdictions.
  • Conduct regular assessments on Shariah compliance levels on FAB Islamic banking activities and operations of the business and support units within the bank with the objective of ensuring that the activities and operations carried out by FAB do not contravene with the Shariah rules and principles. Shariah compliance assessment reports are submitted to ISSC before it is issued to the CEO as required by the regulation.
  • Assist Head of Shariah Compliance in providing updates to the ISSC, senior management and the Bank in general on the latest developments in legal and regulatory requirements in Islamic finance, especially in relation to issuance of the resolutions of HSA.
  • Plan, establish, manage Shariah compliance training to relevant staff in accordance with their areas of work on relevant Shariah requirements governing the Bank's operations, business, affairs and activities including requirements in Islamic banking products and services. This among others intended to create a Shariah compliance culture within relevant departments and staff involved in Islamic banking.
  • Liaise with HSA's Secretariat on resolutions issued by the HSA.
  • Advise on the rollout and implementation of Groupwide Shariah Compliance policies and procedures.
  • Act as the main point of contact for any related matter to Shariah Compliance on Islamic banking.
  • Liaise with other Compliance teams, in the HO functions (Financial Crime Compliance and Regulatory Compliance and International Compliance, to ensure the business is following the latest Islamic and Sharia regulations and best practice.
  • Maintain and build an effective relationship with the businesses so that effective and proactive escalation of issues is achieved, and risk managed.
  • Support the Islamic banking business in adherence to Sharia Compliance policies, procedures and processes and assist business management to ensure fulfilment of its regulatory responsibilities.
  • Produce and review relevant MI and information prior to submission to Internal Shariah Supervision Committees and senior management
  • Execute other tasks and actions as instructed by the Head of Shariah Compliance.

FRAMEWORKS, BOUNDARIES, & DECISION MAKING AUTHORITY:

  • Functions within the framework and boundaries of Islamic and Sharia compliance policies as well as overall organisational and governance Islamic and sharia frameworks
  • Authorised to take decisions as per the approved authorisation matrix.
  • Group Level Role

Qualifications:

**Minimum Qualification*
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