Senior Shari’ah Controller

Job Purpose:

The job holder is responsible of managing and follow-up on Sharia Control Unit including design plans and policies for the operations of Sharia Control and issue the required Sharia reports to the relevant stakeholders.

Key Accountabilities:

• Contribute to the formulation and implementation of divisional strategy and plans as befitting the division and overall strategic objectives.
• Formulate and communicate the performance objectives of the unit and continuously monitor progress and alignment towards overall objectives including managing the operations, delivering expertise, encouraging teamwork and aligning work processes to achieve high performance standards, meet targets and engage employees taking into considerations prevention of Shari’ah non-compliance.
• Manage the implementation of policies and procedures (including evaluation and revision) to ensure all relevant requirements are fulfilled to deliver high-quality services while complying to all operational, technical, regulatory and compliance policies and procedures including the prevention of Shari’ah non-compliance and ensure that the appropriate remedial and disciplinary actions are taken in cases where the operational, technical, regulatory and compliance policies and procedures are violated.
• Monitor implementation of the yearly budget and control costs in within the allocated budget.
• Monitor the preparation of reports (as per agreed periodicity), presented by Shari’ah Controllers and ensuring that such reports are defects-free and cover all technical aspects entirely, including approval of the Sharia observations provided in the reports to ensure that these are valid and correct before being submitting to Group Head of Shari’ah Compliant Banking, while providing solutions for handling control observations/remarks before or after their occurrence.
• Attend the meetings of the Audit Committee and Sharia Board to support the reports of the Sharia Control that have been submitted as well as providing answers to the enquiries of the Audit Committee and Shari’ah Board members.
• Provide responses to client enquiries related to products and transactions of the bank and their compliance with Sharia.
• Monitor the preparation of the Sharia control plan on the bank’s activities and submit such plans to Group Head of Shari’ah Compliant Banking and the Sharia Board for approval.
• Monitor the preparation and development of the Guideline of Sharia Control/ Sharia Compliance and submit to the Group Head of Shari’ah Compliant Banking and the Sharia Board for approval.
• Design the annual training plan for the unit’s employees, participate in conferences and symposiums, visit similar departments outside the bank and submit the plan to Group Head of Shari’ah Compliant Banking for approval, and participate in developing and implementing the Sharia training plan in the bank.
• Seek out Sharia control specialists and recruit them in order to support the Sharia Value chain in particular and the bank in general.
• Ensure compliance with internal policies and procedures and regulatory and best practice standards including confidentiality and integrity/reliability of information

 Qualifications, Experience & Skills

 Qualifications :

 Shariah or Islamic Banking

Or in any related or relevant area.

Professional Certifications:

Preferably Islamic banking certification or diploma

Experience:

15 years progressive professional experience in Internal Shari’ah Control and Governance or related Islamic banking function. 

Skills:

• Experience in GCC region
• Knowledge of Shari’ah compliant products, transaction structuring and documentation
• Well versed with Islamic Shari’ah rules and possess; knowledge of Shari’ah commercial contracts
• Result driven, methodical and details oriented. Dynamic with ability to work under pressure.  
• Should have strong interpersonal, communication and presentation skills