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Responsible for developing shariah compliant products/review existing products and implement these in co-ordination with other departments in the bank. To work towards consistent product management and recommend competitive shariah products leading to productive growth of portfolio.
1. Build product and transaction expertise for shariah compliant banking across all applicable business verticals and segments.
2. Support development of shariah compliant products [Credit, Investment Banking, Treasury, Retail etc.] through working closely with relationship management, legal, compliance, operations, risk, financial control etc. to complete the new product approval
3. Prepare / write product program for each of the new products for necessary internal approval, setting out standardized approach to various product parameters, including pricing, risk criteria, exposure level, target market, approval process, shariah compliance etc.
4. Develop and optimize processes for shariah compliant products and transactions. Liaise with - legal to prepare standard documentation for such products; operations to ensure that the processes are in place for delivery of such products; transaction banking to provide e-banking solutions for the products; financial institutions to ensure that limits are in place as required
5. Structure the transaction such that it meets the shariah guidelines, client's requirements as well as maximizes RAROC for the bank and obtain Shariah Board's approval on the same
6. Provide advisory services to the client in coordination with the relationship management in structuring of shariah products and on matters that may affect the price and liquidity of shariah compliant products and transactions
7. Identify shariah compliant business opportunities in conjunction with relationship management and other business units
8. Maintain up to date awareness of market trends and market knowledge about shariah compliant activities in the relevant markets
9. Ensure compliance with internal policies and procedures and regulatory and best practice standards
10. Support development and maintenance of the shariah governance framework within the bank
11. Prepare reporting system for such products, working closely with IT, operations, financial control etc.
- Extensive knowledge of full range of shariah compliant products, transaction structuring and documentation.
- Well versed with Islamic Shariah rules and possess strong knowledge of shariah commercial contracts.
- Result driven, hands on, dynamic with ability to work under sales oriented environment.
- Should have strong interpersonal, communication and presentation skills.