Sharia Advisory Senior Specialist

Job Purpose:

To assist the bank in it`s compliance with shariah principles and shariah committee resoloutions by developing the structures of products to be shariah compliant, and assisting the bank`s departments with shariah matters.

Job Responsibility:

• Follow department policies, procedures and Sharia Guidelines approved by the Sharia Committee of Riyad Bank.
• Reviews existing products & services and recommends modification, changes to ensure effective compliance with the Sharia research & studies.
• Ensure compliance to the terms and conditions contained in the forms, contracts, or other legal documentations used in executing the transactions; and the product manual, to comply to shariah principles.
• Recommend suitable development action for the deficiencies identified during the product life cycle creation.
• Ensure that the process of developing Islamic banking products for the bank is comprehensive and sufficient in order to reduce the possibility of the committee rejecting Islamic banking products due to its inconsistency with the provisions and principles of Sharia due to improper structuring for the product or insufficient research efforts that the bank has and its failure to understand the legal concepts or unfair presentation of the product In the release or marketing stage.
• Provide input or advice related to rhe related parties of the bank, such as its legal counsel, auditor, or consultants, on shariah matters to provide the necessary assistance to the requesting party.
• Provide written shariah committee approvals to all the bank`s departments when required.
• Contacting clients and providing necessary explanation of structures and products life cycle from shariah perspective in cooperation with RMs.
• Identify the opportunities for continual improvement of work practices, considering the Sharia best practices of other jurisdictions for effective implementation of Sharia regulations.
• Ensure the preparation of timely and accurate reports to meet company and department requirements, policies and standards.
• Complies with all relevant safety, quality and environmental management policies, procedures and controls in order to ensure a healthy and safe work environment.

Qualification & Experiences:

Minimum Qualifications:

• Bachelor Degree in Islamic jurisprudence or Jurisprudence of transactions or any related field.

Minimum Experience:

• 4 -6 years relevant experience in aspects of Islamic banking