AVP

First Abu Dhabi Bank FAB; Dubai, Abu Dhabi; On-site; AED 200,000 - 300,000; Full time

Job summary

A leading bank in the UAE seeks a Shariah Compliance Manager to support compliance initiatives in Islamic banking. The role involves monitoring compliance, advising on Shariah matters, and ensuring adherence to regulations across all FAB locations. Candidates should possess a degree in Shariah, relevant certifications, and extensive experience in Islamic banking.

Qualifications

• At least 7 years of experience in a reputed bank or financial institution.
• Deep understanding of Islamic banking products and regulatory regimes.
• Proficient in English and Arabic.

Responsibilities

• Assist in monitoring compliance of Islamic banking activities.
• Conduct periodic reviews and prepare compliance reports.
• Establish and implement Shariah compliance frameworks.

Skills

Interpersonal skills

Negotiation skills

Project management

Administrative skills

Education

Bachelor's degree in Shariah or Islamic banking

Shariah certifications (CSAA)

Job description

To support the Head of Shariah Compliance in managing end-to-end Shariah compliance-related matters for FAB's Islamic banking activities within the bank and conducting Shariah compliance initiatives and functions to ensure that the activities and operations carried out by FAB do not contravene the Resolutions of the Internal Shariah Supervision Committee (ISSC), Higher Shariah Authority (HSA), Central Bank of UAE, Internal Shariah Supervision Committee, and all other relevant laws, rules, and regulations related to Islamic banking.

To provide Shariah compliance advice and support to the Islamic banking business line and other related functions to ensure compliance with rules, regulations, and best practices. This is a global role, and the jobholder will also oversee Shariah Compliance programs for all Islamic banking activities in the international locations where FAB operates, under the supervision of the Head of Shariah Compliance.

This role aligns with the Standards on Shariah Governance and Shariah Compliance Functions issued by CBUAE.

KEY ACCOUNTABILITIES:

Job Specific Accountabilities

The role involves assisting the Head of Shariah Compliance in monitoring the compliance of the bank's Islamic banking activities with resolutions, fatwas, regulations, and standards issued by ISSC, HSA, and other authorities in local and international locations where the bank operates.

Under the supervision of the Head of Shariah Compliance, responsibilities include:

• Assist in creating, implementing, and monitoring Shariah Compliance initiatives that address the bank’s needs in line with relevant resolutions and regulations.
• Conduct periodic reviews and assessments of Islamic banking activities and prepare compliance reports.
• Monitor the implementation of all Shariah regulations issued by HSA, including conducting gap analysis exercises.
• Establish and implement Shariah compliance frameworks, policies, and procedures.
• Support and advise business, support, and control functions regarding Shariah compliance requirements, including resolutions and fatwas.
• Prepare and submit Shariah compliance reports and updates to stakeholders such as ISSC, BRESGC, GCEO, HSA, and CBUAE.
• Maintain effective communication with HSA and CBUAE on Shariah compliance matters.
• Manage Shariah non-compliance issues, including identification, measurement, rectification, and monitoring.
• Provide timely Shariah compliance advisory to ensure adherence to regulatory guidelines and Shariah principles.
• Build relationships with control, support, and business partners to ensure effective implementation of Shariah compliance across all locations.
• Advise the business on Islamic and Shariah regulatory developments across jurisdictions.

Qualifications

• Bachelor's degree or higher in Shariah or Islamic banking.
• Shariah certifications such as Certified Shariah Advisor & Auditor (CSAA) of AAOIFI are advantageous.
• Proficient in English and Arabic.
• Supporting qualifications include compliance, banking, finance, or accounting certifications.
• UAE National with Family Book.
• At least 7 years of experience in a reputed bank or financial institution with exposure to Islamic Banking principles.
• At least 5 years of experience in Shariah Advisory or Compliance.
• Deep understanding of Islamic banking products, services, operations, and relevant regulatory regimes in the UAE and other FAB locations.
• Knowledge of resolutions issued by HSA and AAOIFI Shariah Standards.
• Strong interpersonal, negotiation, and facilitation skills.
• Excellent project management, IT, and administrative skills.
• Team player capable of meeting deadlines and managing workload.

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