Specialist - Internal Shariah Control

Job Summary / Introduction

To assist the Head of Shariah Compliance & International in managing end-to-end Shariah related matters with regards to compliance of Islamic banking activities and operations carried out by FAB Group with Shariah rules and principles as per the resolutions of Higher Shariah Authority (HSA), Central Bank of UAE, Internal Shariah Supervision Committee (ISSC) and all other related laws, rules, and regulations including any Shariah regulations issued by the applicable international jurisdictions.

Jobholder will also be responsible in managing other Internal Shariah Control’s functions for the Bank’s international or off-shore branches and under supervision of Head Shariah Compliance.

Key Responsibilities

• Continuous monitoring implementation of the resolutions of Higher Shariah Authority (HSA), Central Bank of UAE, Internal Shariah Supervision Committee (ISSC) and all other related laws, rules, and regulations including any Shariah regulations issued by the applicable authorities / regulators at the international locations.
• planning and executing Shariah compliance programs / initiatives which include development and implementation of Shariah compliance framework / policy, Shariah compliance training, Shariah compliance gap analysis, Shariah compliance review and Shariah non-compliance incident management.
• Provide day-to-day Shariah compliance advice to product, business, control and support groups / functions on the correct understanding and implementation of Shariah resolutions and fatawa issued by HSA and ISSC with regards to Islamic banking activities and operations.
• Act as the main point of contact in managing communications and interactions with the relevant internal stakeholders such as Compliance teams, business / product groups and other control and support functions as well as external stakeholders such as regulators, external counsels, auditors etc. with regards to all Shariah compliance related matters.
• Build and maintain productive relationships and effective communications with all internal and external stakeholders with regard to Shariah compliance matters.
• Conduct 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.
• Support regular assessments on compliance levels on 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.
• Assist Head of Shariah Compliance & International in providing updates to the ISSC, senior management and the Bank in general on the latest developments in Shariah resolutions issued by HSA.
• Liaise and collaborate with Compliance to integrate Shariah compliance initiatives into FAB Compliance framework.
• Assist Head of Shariah Compliance & International in managing Shariah compliance risks with regards to FAB Islamic banking activities and operations including development and implementation of Shariah compliance framework / policy and Shariah compliance assessment.
• Act as the main contact point in coordinating communications, submissions, queries, and clarifications between product, business, control and support functions of international locations and the Internal Shariah Control in the Head Office with regards to Shariah related matters.
• Execute all the above responsibilities and other tasks and actions in line with the advice and instruction by the Head of Shariah Compliance & International.
  
  

• Bachelor's Degree in Shariah, Islamic Finance, Islamic Banking, Business Administration, Law, or other related disciplines from a reputable and recognised university.
• Good understanding of Islamic banking products, Shariah governance requirements, and AAOIFI Shariah Standards.
• Strong command of English and Arabic languages.
• Minimum of 2 - 4 years of Shariah in a reputed bank or any financial institution with exposure to Islamic Banking precepts and applicable norms.
• Solid understanding of Shariah, Islamic banking products and services with demonstrable knowledge of underlying relevant Shariah requirements issued by AAOIFI and Higher Shariah Authority of CBUAE.
  
  

• Professional qualification or certification in Islamic Banking, Islamic Finance, Shariah Governance, or Islamic Commercial Jurisprudence is preferred.
  
  

• Strong interpersonal, communication and stakeholder management skills.
• Good organisational, administrative and coordination skills, with the ability to manage multiple assignments simultaneously.
• Team player with the ability to work under pressure, meet tight deadlines and manage competing priorities.
• Demonstrates a strong sense of ownership, attention to detail, accuracy and commitment to delivering high-quality work.
• Strong analytical and problem-solving skills.
• Proficient in Microsoft Office applications, particularly Word, Excel and PowerPoint.