Deputy Manager – Sharia non compliance Risk controller

Job Objective:

To identify, measure, monitor, control and manage any real or perceived risk of Sharia non-compliance across the entire organization.

Accountabilities / Responsibilities:

• Establish control measures, parameters and framework to manage and continuously monitor Sharia non-compliance risk in the Bank as well as in transactions and Detect Sharia non-compliant transactions and events for each parameter
• Preparing a monthly comparative schedule to present the development in all the Sharia non-compliance risk parameters to be presented to SSB in its quarterly meetings.
• Review quarter MIS report coming from business depts.
• Review sharia audit reports and figures out any non-sharia compliance and updated our report.
• Review all SRR prepared by ISR or sharia complains and structuring Dept., and deducted the potentials non-sharia compliance risk.
• Report Sharia non-compliance transactions especially related to documentations, executions, operations, accounting record as well as system behaviour.
• Work in hand with IT Department to ensure execution of products avoid any potential Sharia non-compliant sensitivity elements
• Proposed Sharia mitigates against Sharia non-compliant risk
• Review all CBO/audit reports /HSSA resolutions and updated or control measures.
• Identifying the Sharia non-compliance risk parameters for each department or function.
• Prepare and update the sharia risk policy and any related procedures or form in line with CBO instructions and market practices.
• Establishing a prudent and comprehensive framework with adequate systems and controls for managing Sharia non-compliance risk.
• Managing the perceived Sharia non-compliance risks of various activities and departments in coordination with Internal Sharia Reviewer.
• Giving a scale for each product from (high to low) according to sharia risk
• Measuring quantitatively the volume of the identified parameters and detect any Sharia non-compliance events for each parameter
• On a monthly basis a report will be send to the CEO with all the activities that has been done & highlight any sharia risk activities
• Prepare SRR for new proposals and incorporated sharia comments and rules in the final FOLs
• Attending SSB/EX COM meetings and updated or reports and control measures in line of sharia directions and new rules.

Qualification:

• Essential (E): B.A. or Masters in Sharia
• Desirable (D): B.A. or Masters in Finance or Risk Management

Work Experience:

• 6 Years

Knowledge & Skill:

• Financial and technical analysis skills
• Reporting skills in English and Arabic
• Advance level in English language and Arabic
• Advance level in MS office.