Section Head, Shariah Risk, Operational Risk Management Department

Bank Pertanian Malaysia Berhad (Agrobank); Kuala Lumpur; On-site; MYR 90,000 - 120,000; Full time

Job summary

A government-owned bank in Kuala Lumpur is looking for a Shariah Risk Management professional. The role involves developing and implementing processes for Shariah risk management, leading risk awareness initiatives, and ensuring compliance with regulatory requirements. Candidates should have at least 7 years of relevant experience in Islamic banking and possess a degree in Shariah or a related field. The position offers a unique opportunity to contribute to the bank's strategic goals in the agricultural sector.

Qualifications

• Minimum 7 years of relevant experience in a control function under Shariah governance.
• Good knowledge of Islamic banking products and services.
• Conversant with relevant regulatory requirements (BNM Guidelines).

Responsibilities

• Develop and implement processes for Shariah risk management.
• Lead Shariah risk awareness and compliance culture within the Bank.
• Prepare and review Shariah risk dashboard reported to various committees.

Skills

Knowledge of Shariah / Islamic finance

Analytical skills

Management & organizational skills

Education

Degree in Shariah, Fiqh Muamalat, Islamic Jurisprudence

Professional course related to Risk Management

Job description

Shariah risk management refers to a function that systematically identifies, measures, monitors and reports Shariah non‑compliance risks in the operations, business, affairs, and activities of the Bank.

Responsible to assist Department Head, Operational Risk Management to ensure Agrobank’s Shariah Risk framework/policies and guidelines are in line with regulatory requirements (BNM).

Responsible to ensure Agrobank’s Operational Risk Reporting processes are in line with industry practice and meet the BNM’s requirements and Shariah Governance Framework.

Partnering with the other Shariah related functions such as Shariah Department, Shariah Review, Shariah Research and Shariah Audit and business/support units to identify, manage and mitigate areas of Shariah Risk which consist of risk which might arise from inadequate or failed internal processes, people and systems, or from external events.

Principal Accountabilities

• Develop, communicate, and implement processes for Shariah risk related matters such as Shariah RCSA, KRI, incident management and awareness within the Bank.
• Lead and provide effective Shariah risk awareness and Shariah compliance culture in the Bank through engagement with respective stakeholders, detailed walkthroughs and process mapping to identify significant risks and controls or conducting operational risk trainings or related programs.
• Shariah Risk Champion in providing support and effective communication, education as well as advisory to build risk awareness within the organization.
• Interact and build effective working relationships with peers and all levels of management.
• Ensure all identified staff have their own role in managing Shariah risk.
• Include a contemporary study of emerging risk i.e., climate‑related risks that have a significant impact on other major risk types in the Shariah risk profile reporting.
• Develop, formulate, review and recommend appropriate Shariah risk management policies and operational manuals.
• Integrate Shariah non‑compliance risk considerations with enterprise‑wide risk management.
• Identify Shariah non‑compliance risk exposure in the business operations and activities of the Bank.
• Assess Shariah non‑compliance risk and measure the potential impact of the risk exposure to the Bank.
• Establish appropriate risk mitigation measures.
• Develop, validate, consolidate and report Shariah RCSA exercise conducted by all Business/Support Units.
• Ensure the accuracy, completeness and timely capturing/reporting of KRIs and incidents related to Shariah.
• Prepare/Review Shariah risk dashboard which is reported to ORMC / MRC, BRMC and Board on a monthly basis.
• Develop/enhance frameworks, policies, procedures & guidelines in relation to operational risks and align with Agrobank’s strategic goals & policies.
• Provide sign‑off/assessment from an operational risk perspective on the Bank’s documents (Policy, Framework and Operation Manual) and on the Bank’s initiatives.
• Monitor Shariah non‑compliance risk exposures and effectiveness of the risk mitigation measures.
• Report to the Board, Shariah Committee, and senior management on the Shariah non‑compliance risk exposures.
• Identification, measurement, mitigation, monitoring and reporting of Shariah risk related area/operations/functions/systems etc.
• Constructively challenge decisions that may give rise to Shariah non‑compliance risks.
• Implement tools and methodologies in managing Shariah Risk (e.g., Shariah Control & Self‑Assessment (SRCSA), Incidence Management & Data Collections (IMDC) and Key Risk Indicators (KRI)) across the Bank.
• Support Business/Support units within the Bank in the process of identifying and reporting errors, exposures, losses, and near misses via ORMS.
• Submit incidence reports on Shariah non‑compliance to the Regulator.

Education

• Degree in Shariah, Fiqh Muamalat, Islamic Jurisprudence or a relevant discipline from a reputable university.
• Professional course related to Risk Management is an added advantage.

Experience

• Minimum 7 years of relevant experience in a control function under Shariah governance.
• Preferably a manager in Islamic Banking/Financial Services or equivalent.
• Good knowledge of a broad range of Islamic banking products and services, including consumer banking, business banking and trade finance.
• Conversant with relevant regulatory requirements (BNM Guiding Principles and Guidelines, Shariah Resolutions in Islamic finance, Shariah Parameters).
• Possess knowledge of overall Shariah risk management and risk management tools and techniques embedded in banking.

Knowledge & Skills

• Requisite knowledge on Shariah / Islamic finance.
• Conversant with relevant regulatory requirements.
• Good management & organizational skills.
• Knowledge of Islamic banking products and Shariah concept applications.
• Strong analytical skills on quantitative and qualitative measures for inherent Shariah risk and ability to provide recommendations for remedial action plans.
• Comprehensive understanding of the Shariah Governance Policy Document.
• In‑depth understanding of prevention tools/strategies to detect/mitigate Shariah losses.
• Advisory skills for business and support units in managing identified Shariah risk matters.

About Agrobank

Agrobank is the continuation of the former Bank Pertanian Malaysia, with 40 years of experience in agricultural banking and a proven track record in developing successful entrepreneurs. As a Government‑owned bank under the Minister of Finance Incorporated (MFI), it operates through 190 branches nationwide and employs over 3,400 employees. The bank’s financing of the agricultural sector is driven by a policy set forth by the Ministry of Agriculture and Agro‑Based Industry (MOA).