Shariah Risk Analyst

Zurich 56 Company Ltd; Kuala Lumpur; On-site; MYR 100,000 - 150,000; Full time

Job summary

A leading insurance firm in Kuala Lumpur seeks a professional to support Shariah Risk Management initiatives. The candidate will develop policies, promote risk awareness, and collaborate with various teams to manage Shariah Non-Compliance Risks. Ideal for those with experience in risk management and Islamic finance, this full-time position offers a dynamic work environment committed to diversity and inclusion.

Qualifications

• Experience in an insurance company preferred.
• Additional management training related to Shariah and Enterprise Risk Management.

Responsibilities

• Provide Shariah Risk Management functions to alleviate SNC events.
• Develop and enhance Shariah Risk Management policy.
• Identify and assess inherent SNC risk.

Skills

Shariah risk analysis

Operational risk management

Education

Bachelor’s Degree Risk Management/Actuarial Science

Professional Certification in Shariah

Job description

Summary

Summary

• Support the CRO on enterprise wide risk management framework that is complete, effective and efficient.
• Support the CRO to maintain effective methodologies for Shariah risk analysis, management and reporting.
• Support the CRO to promote a culture that embeds shariah risk management as foundational to how business is done.
• Work collaboratively with the business including Shariah Committee, other assurance functions and ZTMB and ZGTMB senior management.

Key Responsibilities

• Provide Shariah Risk Management functions to ZTMB businesses to alleviate possible Shariah Non-Compliance (SNC) events including:
• Develop, review and/or enhance Shariah Risk Management (SRM) policy for Zurich Takaful business operations.
• Collaborate with business operations in proactively identifying, assessing, controlling, monitoring and reporting potential inherent Shariah Non-Compliance Risks embedded in their processes.
• Collate, analyse potential impact, validate corrective actions and maintain SNC event reported by the business operations and support functions.
• Assist in measuring potential impact of SNC risk to ZTMB based on historical and actual de-recognition of income derived from SNC activities.
• Monitor SNC risks to facilitate efficient and effective management of such risks and report SNC risks incident to Shariah Committee and the Board periodically.
• Identify and assess inherent SNC risk in new product and enhanced processes and systems, and recommend necessary control and mitigation.
• Promote Shariah Risk Management Awareness and practice of regulatory compliance in the conduct of ZTMB/ZGTMB business through development of Shariah Risk Management awareness programme and the application of Operational Risk Management tools in managing SNC risks.
• Additional job functions
• Support the risk management function in the promotion of the Group Risk Management Framework to ensure it is sufficiently understood and implemented in the organization
• Actively participate in Group Risk Management activities in APAC and Global in their initiatives including promoting Takaful.

Qualifications

• Bachelor’s Degree Risk Management/Actuarial Science or similar disciplines
• Refer risk management experience in an Insurance company.
• Bachelor’s Degree or Professional Certification in Shariah
• Additional management training, possibly related to Shariah, Enterprise Risk Management and/or other Governance/Risk topics

Knowledge

Required on commencement:

• Knowledge and understanding of operational risk management

Expected through job performance:

• Knowledge and understanding of Shariah Risk
• Knowledge and understanding of Islamic Finance
• Understanding of Life Business and General Insurance business

At Zurich we are proud of our culture. We are passionate about Diversity and Inclusion. We want you to bring your whole self to work we have a diverse mix of customers, and we want our employee base to reflect that.

Our diversity and inclusion initiatives are creating an environment where everyone feels welcome regardless of protected characteristics.

With the above in mind, we accept applications from everyone regardless of your background, beliefs, or culture.

We are committed to continuous improvement, and we offer access to a comprehensive range of training and development opportunities. Zurich is passionate about supporting employees to help others by getting involved in volunteering, charitable and community activity.

So, make a difference. Be challenged. Be inspired. Be supported, Love what you do. Work for us.

You are the heart & soul of Zurich!

At Zurich, we like to think outside the box and challenge the status quo. We take an optimistic approach by focusing on the positives and constantly asking What can go right? We highly value the experience and know-how of our employees and offer a wide range of opportunities across business areas to encourage you to apply for new opportunities within Zurich when you are ready for your next career step. We’re proud to have earned Great Place To Work® Certification™. Our company culture is our top priority! #GPTWcertified

Let’s continue to grow together!

Location(s): MY - Kuala Lumpur
Schedule: Full Time
Recruiter name: Jesreena Kaur