Shariah Compliance & Review Lead

HLB; Kuala Lumpur; On-site; MYR 90,000 - 150,000; Full time

Job summary

Hong Leong Bank is seeking a Shariah Review professional in Kuala Lumpur to conduct periodic and thematic Shariah reviews in line with the approved plan. You will assess business activities, products, and controls against Shariah and regulatory requirements, escalate SNC events, and report findings to stakeholders.

The role involves monitoring corrective actions, staying updated with regulatory developments, and enhancing Shariah review processes while collaborating with various units to

Responsibilities

• Conduct periodic and thematic Shariah reviews in accordance with the approved Shariah Review Plan, including scoping, risk assessment, walkthroughs, sampling, testing, documentation and reporting of review results.
• Assess business activities, products, services, transactions, operational processes and controls against applicable Shariah requirements, regulatory requirements, Shariah Committee rulings and approved internal policies and procedures.
• Perform fact-finding and preliminary assessment of potential Shariah issues, including gathering supporting evidence, establishing the chronology and circumstances of the event, engaging relevant stakeholders and supporting the determination and escalation of potential Shariah non-compliance (SNC) events.
• Develop clear, evidence-based review observations and recommendations, communicate findings to relevant stakeholders and prepare Shariah Review reports and management/committee updates.
• Monitor and validate corrective and preventive actions arising from Shariah Review findings and SNC events to ensure identified gaps are appropriately addressed within agreed timelines.
• Keep abreast of relevant BNM policy documents, SAC rulings, Shariah Committee decisions and other applicable regulatory developments, and assess their implications on Shariah Review coverage and methodology.
• Support the maintenance and analysis of Shariah compliance/SNC data, dashboards, risk indicators and trend analysis to identify emerging or recurring areas of Shariah risk.
• Contribute to the continuous enhancement of Shariah Review methodology, checklists, assessment tools, procedures, data and technology-enabled review processes.
• Work collaboratively with Business Units, Shariah Advisory, Compliance, Risk, Internal Audit and other relevant stakeholders while maintaining the independence and objectivity of the Shariah Review function.
• Support Shariah compliance awareness, knowledge-sharing and training initiatives by communicating key review observations, recurring issues and lessons learned, where appropriate.

Job description

Hong Leong Bank is seeking a Shariah Review professional in Kuala Lumpur to conduct periodic and thematic Shariah reviews in line with the approved plan. You will assess business activities, products, and controls against Shariah and regulatory requirements, escalate SNC events, and report findings to stakeholders.

The role involves monitoring corrective actions, staying updated with regulatory developments, and enhancing Shariah review processes while collaborating with various units to