Sharia Compliance Manager

Bachelor of Commerce, Bachelor of Business Administration, Master of Commerce Nationality Any Vacancy Job Description Regulatory Compliance Ensure full compliance with UAE Law No. 14 of 2018, as well as all resolutions, fatwas, regulations, and standards issued by: The Higher Sharia Authority (CBUAE-HSA)The Internal Sharia Supervisory Committee (ISSC)Sharia Governance Framework AAOIFI Sharia Standards Any other relevant regulatory or Sharia guidelines for Islamic banking Ongoing Monitoring Continuously monitor and ensure the Bank’s business activities align with all applicable Sharia resolutions and regulatory requirements issued by the ISSC and CBUAE-HSA.Gap Analysis and Action Planning Analyze new circulars and resolutions issued by the HSA.Prepare detailed gap analysis reports identifying obligations, relevant stakeholders, current status, action plans, remedial actions, and deadlines.Communication and Reporting Assist in disseminating HSA circulars and resolutions to the ISSC and senior management.Follow up with relevant stakeholders on implementation and closure of identified gaps.Annual Review Planning Assist in developing the annual Sharia compliance review plan, to be approved by the ISSC and the Board Risk & Compliance Governance Committee (BRCGC).Document and Process Review Review existing documents including contracts, product structures, policies, procedures, manuals, processes, and marketing materials to ensure compliance with Sharia principles.Risk Mitigation Recommend remedial actions and appropriate changes to existing controls to mitigate Sharia non-compliance risks across the Bank’s operations.Sharia Culture & Awareness Promote and cultivate a strong Sharia compliance culture within the Bank.Enhance staff awareness across the group, ensuring they possess the necessary knowledge and skills to meet Sharia compliance requirements.Checklist Development Assist in developing and regularly updating internal Sharia compliance checklists, ensuring clarity and relevancy of the content.Sharia Compliance Reviews Conduct regular field visits and reviews to evaluate the effectiveness of Sharia non-compliance controls.Issue reports and follow up on remedial actions to ensure controls are functioning as intended.Subsidiary Oversight Perform Sharia compliance oversight reviews of subsidiaries and affiliates.Integrate findings into the Bank’s consolidated Sharia compliance reporting.Policy Development Assist in the development of internal policies and processes relating to Sharia compliance reviews.Corrective Action Plans Support the establishment of detailed action plans to address root causes of non-compliance, specifying accountable parties and timelines.Periodic Reporting Prepare periodic Sharia compliance reports for submission to the ISSC.Ensure all technical Sharia matters are reviewed by the ISSC prior to being shared with the Group Chief Executive Officer.Desired Candidate Profile Education Requirements Bachelor’s degree in Sharia, with additional knowledge in law, economics, Islamic banking, or finance;ORBachelor’s degree in Islamic economics, Islamic banking, or finance, with substantial knowledge in Sharia and law.Work Experience Minimum 5 years of relevant experience in the Sharia Department of an Islamic Financial Institution (IFI), if holding a Master’s degree in Sharia, Islamic economics, Islamic banking, or Islamic finance.ORMinimum 7 years of relevant experience in the Sharia Department of an IFI without a Master’s degree.Required Skills and Knowledge Credit Policy and Parameters: Basic understanding Editorial Skills: Basic proficiency in reviewing and editing documents Regulatory and Compliance Knowledge: Advanced understanding, particularly in Islamic finance and banking regulations Disclaimer: Naukrigulf.com is only a platform to bring jobseekers & employers together. Applicants are advised to research the bonafides of the prospective employer independently. We do NOT endorse any requests for money payments and strictly advice against sharing personal or bank related information. We also recommend you visit Security Advice for more information. If you suspect any fraud or malpractice, email us at abuse@naukrigulf.com #J-18808-Ljbffr