AVP- Islamic Products (Emiratised Role)

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

Job summary

A leading financial institution is seeking an experienced AVP, Islamic Products to manage and develop Islamic Banking products. You will take ownership of the Islamic GTB product proposition and work closely with various stakeholders to ensure compliance and implementation of Islamic products. The ideal candidate should have a background in finance or Islamic finance, with at least 5 years of relevant experience in Islamic banking and very good knowledge of Shariah principles. This is an excellent opportunity for someone looking to grow in a dynamic financial environment.

Qualifications

• 5 years of related experience in Islamic banks or Islamic windows.
• Very good understanding of Islamic contracts and documentation.
• In-depth understanding of Islamic financial products.

Responsibilities

• Take ownership of the Islamic GTB product proposition.
• Manage Islamic Banking products including Assets, Liabilities, and Global Market products.
• Develop new Islamic products based on market analysis and client demand.

Skills

Very good knowledge of Shariah principles

Financial analysis skills

Excellent communication skills

Ability to work effectively with a wide range of stakeholders

Education

Bachelor’s degree in economics, finance, Islamic finance, or related field

Job description

Join the UAE’s largest bank and one of the world’s largest and safest financial institutions. Our focus is to create value for our employees, customers, shareholders and communities to grow through differentiation, agility and innovation.

We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting and dynamic industry.

Job Description

The AVP, Islamic Products is a key member of the Islamic product team and Shariah compliant product proposition of the organization. He supports the Head of Islamic products with the wide array of products and businesses that are under Islamic Product team responsibilities. He should act as the first point of contact for any Islamic product offering by various areas of the bank with a focus GTB and International offering.

Key Accountabilities

• Take ownership of the overall Islamic GTB product proposition
• Manage a suite of Islamic Banking products that include both Assets, Liabilities as well as Global Market products
• Develop new Islamic products based on thorough competition and market analysis as well as client demand to generate new revenue streams for the bank
• Liaise with various stakeholders to ensure smooth implementation of Islamic products including but not limited to Shariah control and Legal departments
• Actively work with operations and IT on development and testing of any new system functionality related to Islamic banking products
• Support Head of Islamic products with all tasks assigned including ad hoc projects or urgent deliverables
• Preparing and reviewing any SOPs or procedures specific to Islamic products offering
• Act as the first point of contact for any matter related to Islamic products in the organization
• Support the Islamic product offering in international locations of the bank
• Stay constantly updated on the new standards, regulations, competitor’s progress, market trends and customer needs to ensure that the bank remains a market leader in terms of Islamic product proposition
• Develop training material and provide training on various Islamic products across the bank
• Work on Islamic window MIS and internal presentations in liaison with internal stakeholders such as IT or Finance
• Joint visits with business teams to key/sensitive Islamic customers requiring structuring skills and expertise
• Managing the profitability and performance of Islamic financial products and services, including monitoring and analysing market trends and customer feedback
• Take ownership for any compliance or audit matter related to the Islamic product team and ensure delivery/closure within the agreed deadlines

Qualifications

• Bachelor’s degree in economics, finance, Islamic finance, Shariah or any related field
• 5 years of related experience in Islamic banks or Islamic windows
• Very good knowledge of Shariah principles, AAOIFI Shariah standards and CBUAE HSA regulations
• Very good understanding of Islamic contracts and documentation
• in-depth understanding of Islamic financial products and operational implementation practices and the distinct differences to conventional finance.
• Financial analysis skills and accounting knowledge
• Excellent communication skills
• Ability to work under pressure and with tight deadlines
• Ability to work effectively with a wide range of internal and external stakeholders