Shariah Compliance & Regulations Manager

🔥 0 minutes ago

🇵🇰 Pakistan – Remote

⏰ Full Time

🟡 Mid-level

🟠 Senior

🚔 Compliance

👻 Ghost score 10%

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Mashreq

WebsiteLinkedInAll Job Openings

1001 - 5000 employees

Founded 1967

🏦 Banking

💸 Finance

💳 Fintech

Banking • Finance • Fintech

Mashreq is a leading financial institution based in the UAE, offering a wide range of banking services including personal, corporate, and investment banking. The bank focuses on providing innovative financial solutions to its customers and has a strong digital banking presence.

📋 Description

• Apply Shari’ah Compliance Checks and test internal Shari’ah Controls in Islamic business activities and operations according to the approved annual plan • Monitor and report Shari’ah Non-Compliance Risks identified during Field Reviews • Assist the Manager Field Visits - Shari’ah Compliance with activities envisaged in CBUAE standards and guidelines • Develop and maintain the Field Review Manual in line with applicable regulations, ISSC guidelines and CBUAE requirements • Develop the Annual Review Plan and obtain approvals from the Board, ISSC and Senior Management • Develop standard working papers and checklists for Field Reviews • Conduct Field Review engagements and prepare draft and final reports • Monitor turnaround time and follow up on rectification of outstanding issues • Prepare Field Review highlights for Group Head Compliance, ISSC members and the CEO • Plan Shari’ah Field Reviews, send notifications and information requirements, and arrange opening meetings • Prepare working papers documenting Shari’ah Field Reviews • Conduct Shariah Reviews of products, activities and services against HSA-UAE, ISSC and AAOIFI guidelines • Gather sufficient evidence to reach accurate review opinions • Conduct exit/closing meetings and discuss observations and findings • Issue reports covering observations, key risks, root causes, remediation owners and action items • Identify Shari’ah controls requiring establishment or attention • Issue reports to relevant stakeholders after ISSC/Executive Management review and approval • Monitor and track Field Review observations • Prepare closing-meeting minutes • Escalate non-performance and delays according to agreed timelines and levels • Recommend initiatives to enhance Shari’ah governance, controls and compliance culture • Interact bank-wide with business groups, Audit, Compliance, Legal and department/unit heads • Remain independent from functions under review

🎯 Requirements

• 5-8 years’ experience in an Islamic Bank in Shari’ah Audit/ Shari’ah Compliance/ Islamic Product Development • Should hold at least a Bachelor’s Degree/ Professional Qualification in Business/ Accounting • In-depth understanding of AAOIFI Shari’ah Standards • AAOIFI CSAA (preferable) • Significant exposure to Shari’ah principles via studies, courses or extensive on-job learning • Strong communication and writing skills • Command on MS Office especially Power Point • Fluent in English speaking and writing