Head of Shari’a Compliance Department

Company : Sundus Recruitment And Outsourcing Services, Abu Dhabi

Job Type : Full Time

Abu Dhabi

Number of Applicants

:

000+

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Job Description - Head of Shari’a Compliance Department

Leading the Shari’a Compliance in 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 and managing the Shari’a Compliance Dept. (“SCD”) in Internal Shari’a Control Division (“ISCD”).

Role Purpose

Leading the Shari’a Compliance in 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 and managing the Shari’a Compliance Dept. (“SCD”) in Internal Shari’a Control Division (“ISCD”).

Key Accountabilities Of The Role

To adhere to reporting lines as highlighted in CBUAE Shari’a Governance Standard.
To ensure that all departments in Group are operating within the Shari'a framework decided by HSA.
To review and approve all activities, products and services (and related agreements) that will be conducted or executed by Group to make sure that they are in line with the resolutions of HSA.
To follow up the implementation of (and adherence to) any new HSA’s resolutions.
To make sure that the internal Shari’a control functions are designed and operating in line with CBUAE Shari’a Governance Standard.
To make sure that the CBUAE Shari’a Governance Standard is implemented at all levels in Group.
To review new policies and procedures to make sure that they are in line with the Shari’a compliance requirements.
To provide advices in respect of Shari’a compliance to all levels and departments in Group.
To monitor sending the Annual Shari’a Report to HSA on time and presenting it in the annual general assembly.
To raise and discuss with the Internal Shari’a Supervisory Committee (“ISSC”) any deviation in the committee’s resolutions from the HSA‘s resolutions.
To increase Shari’a compliance awareness in Group by conducting regular trainings.
To represent Group in the relationship with the CBUAE in the matters related to Shari’a compliance.
To submit regular Shari’a compliance reports to ISSC and then to the Group CEO, and implement the decision taken.
To submit (and discuss) the Shari’a compliance reports, after obtaining the feedback from ISSC and the CEO, to the Head of Compliance in Group.
To play a highly collaborative role to build solid cross-functional relationships with departmental heads and management across the business.
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.
Create teamwork environment in SCD.
Comply with any additional tasks, which could be assigned by Global Head of Internal Shari’a Control Division.
To coordinate with internal Shari’a Control Division departments regarding the improvement of work quality.
Review and approve semi-annual skill inventory analysis to assess the training needs and required skills of the subordinate staff.
Ensure satisfactory behaviour and attitude.
Develop and keep constructive working relationships with Shari’a Consultations Dept. in order to achieve the overall objectives.
Comply with any additional tasks, which could be assigned by the management.

Specialist Skills / Technical Knowledge, Technical Competencies Required for this role:

Bachelor Degree in Islamic banking or equivalent.
Strong academic skills or experience in Shari’a compliance.
CISSA and/or CIPA certifications (or alternative certifications).
Strong knowledge of banking and Islamic banking products.
Strong knowledge of AAOIFI Shari’a Standards.
Excellent communication and presentation Skills.
Reasonable legal background.
Ability to balance between compliance requirement & business needs.
Fluent in Arabic and English.

Previous Experience

More than (10) years of experience in Shari’a related functions in Islamic banking.

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