Deputy Manager – Sharia non compliance Risk controller

Bank Nizwa; Muscat; On-site; OMR 10,000 - 15,000; Full time

Job summary

A financial institution is seeking a Sharia Compliance Risk Manager to oversee and manage Sharia non-compliance risks across the organization. This role requires at least 6 years of experience and proficiency in English and Arabic. Responsibilities include preparing reports and collaborating with various departments to ensure Sharia compliance in all transactions.

Qualifications

• Minimum of 6 years of experience in a relevant field.
• Experience in managing Sharia compliance risks and procedures.

Responsibilities

• Identify, measure, and manage Sharia non-compliance risk.
• Prepare and present Sharia risk reports to SSB.
• Collaborate with IT to ensure compliance in product execution.

Skills

Financial analysis skills

Reporting skills in English and Arabic

Advance level in English language

Advance level in Arabic

Advance level in MS office

Education

B.A. or Masters in Sharia

B.A. or Masters in Finance or Risk Management

Job description

Job Objective

To identify, measure, monitor, control and manage any real or perceived risk of Sharia non-compliance across the entire organization.

Accountabilities / Responsibilities

• Establish control measures, parameters and framework to manage and continuously monitor Sharia non-compliance risk in the Bank as well as in transactions and Detect Sharia non-compliant transactions and events for each parameter
• Preparing a monthly comparative schedule to present the development in all the Sharia non-compliance risk parameters to be presented to SSB in its quarterly meetings.
• Review quarter MIS report coming from business depts.
• Review sharia audit reports and figures out any non-sharia compliance and updated our report.
• Review all SRR prepared by ISR or sharia complains and structuring Dept., and deducted the potentials non-sharia compliance risk.
• Report Sharia non-compliance transactions especially related to documentations, executions, operations, accounting record as well as system behaviour.
• Work in hand with IT Department to ensure execution of products avoid any potential Sharia non-compliant sensitivity elements
• Proposed Sharia mitigates against Sharia non-compliant risk
• Review all CBO/audit reports /HSSA resolutions and updated or control measures.
• Identifying the Sharia non-compliance risk parameters for each department or function.
• Prepare and update the sharia risk policy and any related procedures or form in line with CBO instructions and market practices.
• Establishing a prudent and comprehensive framework with adequate systems and controls for managing Sharia non-compliance risk.
• Managing the perceived Sharia non-compliance risks of various activities and departments in coordination with Internal Sharia Reviewer.
• Giving a scale for each product from (high to low) according to sharia risk
• Measuring quantitatively the volume of the identified parameters and detect any Sharia non-compliance events for each parameter
• On a monthly basis a report will be send to the CEO with all the activities that has been done & highlight any sharia risk activities
• Prepare SRR for new proposals and incorporated sharia comments and rules in the final FOLs
• Attending SSB/EX COM meetings and updated or reports and control measures in line of sharia directions and new rules.

Qualification

• Essential (E): B.A. or Masters in Sharia
• Desirable (D): B.A. or Masters in Finance or Risk Management

Work Experience

• 6 Years

Knowledge & Skill

• Financial and technical analysisskills
• Reporting skills in English and Arabic
• Advance level in English language and Arabic
• Advance level in MS office.