Compliance Officer, GC - Islamic Banking and Operation MY

CIMB; Malaysia; On-site; MYR 100,000 - 150,000; Full time

Job summary

A leading bank in Malaysia is seeking a Shariah Review professional responsible for establishing Shariah review programmes and frameworks. The role includes performing comprehensive reviews, presenting findings to relevant committees, and ensuring compliance with Islamic regulatory standards. Candidates must possess strong knowledge of Shariah principles and regulatory requirements in Islamic banking. This position offers an opportunity to contribute to effective risk management and governance in a dynamic banking environment.

Qualifications

• Experience in establishing Shariah review programs and frameworks.
• Ability to perform end-to-end Shariah reviews with execution and reporting.
• Familiarity with Shariah regulatory requirements in Islamic banking.

Responsibilities

• Establish Shariah review programme and framework.
• Perform an end-to-end Shariah review including planning and execution.
• Present Shariah review report to relevant committees for approval.
• Assess and verify escalated Shariah issues.
• Handle PSNC events and ensure compliance with reporting.
• Conduct annual Shariah review risk assessment.

Job description

Shariah Review

1. Establish Shariah review programme and framework.
2. Perform an end-to-end Shariah review which includes development of plan, execution, reporting and monitoring.
3. Present and obtain relevant committees’ approval such as CRC and BSC on the Shariah review report.
4. Perform ad-hoc Shariah reviews and activities as and when required by the relevant committee and regulator.

Shariah Issue Escalation Process or Handling of SNC

1. Perform assessment and verification on Shariah issues escalated by all lines of defense.
2. Handle PSNC event escalation which include verification, reporting to the relevant committees such as PSNCC and BSC.
3. Monitoring of SNC and Islamic regulatory breaches action plan and obtain the relevant party’s approval for closure.

Assurance

1. Perform annual Shariah review risk assessment to derive an annual Shariah review plan.
2. Track the open item issues and ensure the relevant party’s approval has been obtained for extension of action plan.
3. Provide sufficient information for reporting to the relevant committees such as the BSC and the Board of Directors on timely basis.
4. Perform validation on Control Effectiveness Testing (“CET”) of GIB.
5. Provide adequate guidance and training to the staff of CIMB Group on relevant Islamic and/or Shariah regulatory requirements governing Islamic banking business of CIMB Group, where necessary