Manager Shariah Compliance

easypaisa digital bank; Islamabad; On-site; PKR 1,800,000 - 3,200,000; Full time

Job summary

easypaisa Bank Ltd. seeks a Manager Shari’ah Compliance to support the Head Shari’ah Compliance in implementing and monitoring the Shari’ah Governance Framework across products, processes and business activities. The role focuses on risk oversight, documentation, and regulatory interactions with SBP.

The candidate will review products and contracts for Shari’ah compliance, maintain rulings records, and coordinate with SBP during inspections while guiding business units on Shari’ah principles.

Qualifications

• Graduate degree specialization in Islamic Banking and Finance or equivalent
• Shahadah-ul-Aalamiyah with exposure to Islamic banking is acceptable
• Candidates should meet SGF Annexure-A academic qualification criteria
• Professional Islamic finance certifications (AAOIFI CSAA or CIPA) are preferred

Responsibilities

• Assist in implementing the Shari’ah Governance Framework across the Bank
• Support the Head Shari’ah Compliance ensuring Shari’ah governance components function effectively
• Monitor compliance with Shari’ah principles and controls approved by the Shari’ah Board
• Conduct preliminary Shari’ah compliance reviews of products, services, and documents
• Identify Shari’ah non-compliances and suggest corrective actions
• Provide routine Shari’ah compliance guidance to business units and product teams
• Carry out Shari’ah research and maintain rulings and approvals records
• Assist in verification of profit distribution methods and disclosures
• Draft responses to Shari’ah queries from customers and regulators
• Coordinate with SBP for inspections and regulatory disclosures
• Support training on Shari’ah awareness for staff
• Liaise with SBP Islamic Banking Department and ensure regulatory compliance

Skills

Shari’ah governance

Regulatory liaison

Documentation

Audit support

Training support

Education

Graduate Degree in Islamic Banking and Finance

Shahadah-ul-Aalamiyah (Dars-e-Nizami) with Islamic Banking exposure

SGF Annexure-A academic qualification criteria

Professional Islamic finance certifications (AAOIFI CSAA or CIPA) preferred

Job description

easypaisa is Pakistan’s first digital bank and has advanced Pakistan’s digital finance landscape. Backed by our shareholders, Telenor Group-a leading telecom operator in Asia and the Nordics- and Ant Group-the force behind Alipay, the world’s leading open internet platform, easypaisa deliver secure, convenient financial solutions to millions of Pakistanis.

Position Summary:

The Manager Shari’ah Compliance is responsible for supporting the Head Shari’ah Compliance in ensuring effective implementation, monitoring, and day-to-day execution of the Easypaisa Bank Ltd.’s (EBL) Shari’ah Compliance Function in accordance with the latest applicable Shari’ah Governance Framework (SGF) issued by the State Bank of Pakistan (SBP), Shari’ah Board directives, and applicable laws and regulations. The role focuses on operational oversight, review, coordination, documentation, and follow-up of Shari’ah compliance matters across products, processes, and business activities of the Bank.

Key Responsibilities:

1. Implementation of Shari’ah Governance Framework

• Assist in implementation and operationalization of the EBL’s Shari’ah Governance & Compliance Framework.
• Support the Head Shari’ah Compliance in ensuring that all components of Shari’ah governance including Shari’ah compliance, Shari’ah audit, Shari’ah review, and enforcement mechanisms are functioning effectively.
• Monitor compliance with Shari’ah principles, procedures, and controls approved by the Shari’ah Board.

2. Shari’ah Compliance Review and Advisory Support

• Conduct preliminary Shari’ah compliance review of products, services, agreements, contracts, manuals, SOPs, process flows, and related documentation prior to submission to the Shari’ah Board.
• Identify Shari’ah non-compliances, gaps, and control weaknesses, and recommend corrective actions to the Head Shari’ah Compliance
• Provide routine Shari’ah compliance guidance to business units, product teams, digital banking units, and support functions under approved Shari’ah principles.

3. Research and Documentation

• Carry out Shari’ah research and analysis on assigned issues under the guidance of the Head Shari’ah Compliance & Shari’ah Board.
• Maintain proper and systematic records of Shari’ah rulings, Fatawajat, approvals, instructions, and guidelines issued by the Shari’ah Board.
• Assist in drafting Shari’ah compliance notes, working papers, and internal Advisories.

4. Profit Distribution and Depositors’ Compliance

• Assist in verification of profit and loss distribution mechanisms to depositors to ensure Shari’ah compliance prior to disbursement.
• Review calculation methodologies, allocation mechanisms, and disclosures in line with regulatory requirements & approved Shari’ah rulings.

5. Customer and Stakeholder Queries

• Draft responses to Shari’ah-related queries from customers, regulators, and internal stakeholders after coordination with relevant departments.
• Route responses through the Head Shari’ah Compliance for review and onward submission to the Shari’ah Board.

6. Shari’ah Audit, Review, and Inspection Coordination

• Compile management responses to Shari’ah audit and review observations and track implementation status of corrective actions.
• Assist in preparation for SBP’s inspections, including documentation and coordination with concerned departments.

7. Enforcement and Corrective Actions

• Support implementation and follow-up of corrective and enforcement actions prescribed by the Shari’ah Board.
• Maintain records of unresolved Shari’ah issues and periodically report status to the Head Shari’ah Compliance.

8. Disclosures and Regulatory Compliance

• Coordinate with relevant departments to ensure Shari’ah-related disclosures, approved product features, FAQs, and Shari’ah rulings are updated on the EBL’s website and other required platforms as per regulatory regulations.
• Assist in ensuring timely submission of Shari’ah-related information to SBP through appropriate channels.

9. Training and Awareness

• Coordinate with HR and Training Unit to assist in development of Shari’ah training material.
• Support delivery of Shari’ah awareness and capacity-building sessions for staff as per training plans approved by Executive Management and Shari’ah Board.

10. Regulatory and External Liaison

• Liaise with SBP’s Islamic Banking Department on routine Shari’ah compliance matters under the supervision of the Head Shari’ah Compliance.
• Perform any other Shari’ah compliance-related tasks assigned by the Head Shari’ah Compliance.
• Incumbent shall be responsible to adhere by Easypaisa Bank Limited Behaviours & Values in all aspects of his/her work conduct.
• Ensure that a culture of risk and compliance management is implemented, and institute performance measures tied to individual risk and compliance responsibilities.

Knowledge and Experience:

Education:

• Graduate Degree with specialization in Islamic Banking and Finance; or
• Shahadat-ul-Aalamiyah (Dars-e-Nizami) with exposure to Islamic Banking and Finance.
• Must meet the Academic Qualification criteria prescribed in Annexure-A of the Shari'ah Governance Framework (SGF).
• Preference will be given to candidates holding professional Islamic finance certifications, such as AAOIFI CSAA or CIPA.

Experience:

• Minimum 3 to 5 years of relevant professional experience, preferably in Islamic Banking, Shari’ah Compliance, Shari’ah Advisory, or Islamic Finance.