Unit Head - Shari’a Assessment & Testing

Abu Dhabi Islamic Bank; United Arab Emirates; On-site; AED 200,000 - 300,000; Full time

Job summary

A major Islamic bank in the UAE is seeking a Unit Head - Shari’a Assessment & Testing. The role involves ensuring Shari’a compliance across the bank and requires overseeing assessments and monitoring compliance with pertinent regulations. Candidates should have a bachelor's degree in Shari’a or Islamic banking, with over a decade of experience in Shari’a-related functions and a strong understanding of Islamic banking products. Strong leadership skills and proficiency in Arabic and English are essential.

Qualifications

• Expert knowledge of AAOIFI Shari’a Standards.
• 10+ years of experience in Shari’a related functions in Islamic banking.
• Strong academic skills or experience in Shari’a compliance.

Responsibilities

• Ensure Shari'a Compliance across the ADIB Group.
• Coordinate with Business Units to identify compliance issues.
• Provide strategic insights and recommendations based on review results.

Skills

Shari’a compliance

Excellent communication skills

Leadership experience

Islamic banking knowledge

Arabic proficiency

English proficiency

Education

Bachelor’s degree in Shari’a/Islamic banking

Job description

Role : Unit Head - Shari’a Assessment & Testing

Location : Abu Dhabi

Role Purpose: Ensure Shari’a Compliance across the ADIB Group by continuously monitoring the Bank’s business activities and operations in accordance with the prevailing standards and resolutions of the Higher Shari’a Authority (HSA), the related resolutions of the Bank’s Internal Shari’a Supervisory Committee (ISSC) and the relevant regulations issued by the Central Bank of the UAE (CBUAE), in alignment with the SCD policies, procedures, methodologies, and the policies and frameworks established by the ISCG.

Key Accountabilities of the role

• Assist the Head of SCD in supervising and managing the function of continuous monitoring of the Bank’s compliance with HSA Resolutions, related ISSC Resolutions and applicable standards and requirements issued by the CBUAE.
• Develop and formulate the SAT’s Annual Shari’a Assessment and Testing Plan (Annual Plan) in line with internal policies, procedures, and methodologies.
• Lead and oversee Shari’a monitoring and assurance reviews across the Bank.
• Ensure the Annual Plan comprehensively addresses all critical areas of Shari’a compliance within the ADIB Group and aligns with organizational strategic objectives and goals.
• Ensure meticulous evaluation of operations and transactions for adherence to HSA standards and CBUAE regulations.
• Ensure the effective execution of the Annual Plan in accordance with relevant policies, utilizing a risk-based methodology supported by systems such as the Governance, Risk and Control (GRC) platform.
• Oversee the assessment and evaluation of Shari’a Non-Compliance (SNC) risks and related controls and maintain regular coordination with Business Units and Operational Risk Management teams to identify issues and develop and implement effective controls.
• Ensure the preparation of detailed reports on review and testing findings, tailored to various stakeholders and committees, in accordance with applicable policies.
• Effectively communicate review findings and reports to relevant business and process stakeholders.
• Provide strategic insights and recommendations based on the review results.
• Ensure the effective implementation of action plans derived from the conducted reviews and enhance overall Shari’a compliance controls.
• Monitor progress and ensure the timely implementation of Shari’a compliance issues identified during assessments.
• Provide regular updates to the Head of SCD on the status of HSA Resolutions and agreed action plans.
• Implement and continuously refine the SCD policies, procedures, and methodologies.
• Provide leadership and guidance to the execution team to ensure the highest standards of Shari’a compliance monitoring and reporting are maintained.
• Provide support to other SCD functions as and when required.

Specialist Skills / Technical Knowledge Required for this role

1. Bachelor’s degree in Shari’a/Islamic banking or equivalent.
2. Strong academic skills or experience in Shari’a compliance.
3. AAOIFI CSAA and/or CIPA certifications (or equivalent certifications).
4. Expert knowledge of banking and Islamic banking products.
5. Expert knowledge about principles of Islamic Commercial Jurisprudence, Shari’ah standards, products and Islamic banking operations.
6. Expert knowledge of AAOIFI Shari’a Standards.
7. Excellent communication and presentation Skills.
8. Reasonable legal and compliance background.
9. Ability to balance between compliance requirements & business needs.
10. Experience in Leadership roles.
11. Fluent/proficiency in Arabic and English.

Previous experience

10+ years of experience in Shari’a related functions in Islamic banking, preferably in Shari’a Compliance, Shari’a Consultation and/or Internal Shari’a Audit.