Manager – Shari’a Compliance

Job Details

Responsibilities:

• To assess in ensuring that all departments are operating within the Shari’a framework decided by HAS-CBUAE.
• To assess in reviewing and approving all activities, products, and services (and related agreements) that will be conducted or executed to make sure that they are in line with the resolutions of HAS-CBUAE.
• To follow up the implementation of (and adherence to) any new HSA’s resolutions, including the preparation of gap analyses.
• To assess in making sure that the CBUAE Shari’a Governance Standard is implemented at all levels.
• To assess in reviewing new policies and procedures to make sure that they are in line with the Shari’a compliance requirements.
• To provide advice (as delegated by Head of Shari’a Compliance Dept.) in respect of Shari’a compliance to all levels and departments.
• To raise to Head of Shari’a Compliance Dept. the assumed deviation in the committee’s resolutions from the HSA ‘s resolutions to be discussed with the respected Internal Shari’a Supervisory Committee (“ISSC”) for its final decision.
• To assess in increasing Shari’a compliance awareness by the participation in conducting regular trainings through the Shari’a Training Department.
• To assess in preparing the regular Shari’a compliance reports that are required to be submitted to ISSC and then to the CEO, and implement the decisions taken.
• To participate in the Shari’a compliance review as required by the Standard and Guidance Note Regarding Shari’ah Compliance Function at Islamic Financial Institutions, issued by CBUAE.

Specialist Skills / Technical Knowledge Required for this role:

• Bachelor’s degree and above in Islamic banking or equivalent.
• Strong academic skills or experience in Shari’a compliance and compliance in general.
• CISSA and/or CIPA certifications (or alternative certifications).
• Strong knowledge of banking and Islamic banking products.
• Strong knowledge of HSA-CBUAE Resolutions.
• Strong knowledge of AAOIFI Shari’a Standards.
• Strong knowledge of CBUAE regulations related to Islamic banks (in particular: Shari’a governance and Shari’a compliance function).
• Excellent communication and presentation Skills.
• Reasonable legal background.
• Ability to balance between compliance requirements & business needs.
• Fluent in Arabic and English

Previous experience required

10 Years of experience in compliance (in Islamic banks), 4-5 years (or more) of them are in Shari’a compliance