DescriptionRole : Head of Internal Sharia Audit Assignments
Location : Abu Dhabi
Role Purpose:
Assist the Group Head of Internal Sharia Audit in buildingthe Internal Sharia Audit assignments and monitors ADIBs compliance with Islamic Sharia according to AAOIFI standards and in accordance with the IIA standards. Standard of Sharia Governance for Islamic Financial Institutions to ensure their compliance with Islamic Sharia and ensure the adequacy of internal procedures and Sharia governance frameworks.
Key Accountabilities of the role
RESPONSIBILITIES:
Assist in establishing a strategy for Internal Sharia Audit Group functions.
RESULTS REQUIERD:
- Adhere to:
- The AAOIFI Standards.
- The CBUAE HSA Resolutions
- ADIB- ISSC Resolutions
- The Institute of Internal Audit Standards e.g. independence objectivity proficiency and performance of audit work.
- The Internal Sharia Audit objectives mission and vision.
- AsHead of Internal Sharia Audit Functions the main responsibilities are as follows:
- Compile review and summarize Higher Sharia Authority CBUAE HAS and ADIB Internal Sharia Supervisory Committee (ISSC) resolutions.
- Review of Policy and Procedures related to processes/products.
- Develop/review the Sharia Audit Program and identify/define areas of Sharia Non-Compliance Risks.
- Identify and evaluate the Sharia Non-Compliance (SNC) Risks. (Prioritize/quantify the SNC SNC Assessment Likelihood Rating Scale & Criteria Impact Rating Scale & Criteria Overall SNC Score scale Definition & Criteria Identify the Sharia Controls Prioritize quantify and evaluate the effectiveness of Sharia Controls Obtaining Management Consensus).
- List of Sharia Audit requirements/reports.
- Risk Assessment for Finance Products (Assets) only. (Risk Assessment (for Finance Products) - Evaluation framework (scoring system).
- Sampling methodology (Extensive Testing Moderate Testing Standard Testing).
- Prepare Authority Letter.
- Conducting opening meeting and presentation to the respective management/s (Introduction Authority letter/Scope and objectives Findings/exceptions Sharia Audit progress Cooperative administration).
- Formation the Sharia audit assignments teams (team leader and members).
- Use the Sharia Risk and Control Analysis to determine the Sharia Audit Approach (Documenting the Sharia Control Walk-through of Controls Evaluating the Effectiveness of Sharia Compliance Controls Reviewing the Associated Evidences).
Sampling methodology (Defining the Population Number of locations Sharia Control changes Setting the Sample Size Document the Tests to be performed). - Findings/Exceptions Sheets (Finding/Exception Cause Responsibility SNC/ Impact Working Paper/s Ref Recommendation/Policy Reference Management reply &Target Date.
- Preparation of Sharia Audit reports. (Executive Summary Report. Detailed Report).
- Sharia control environment Rating.
- Sharia control rating.
- Exceptions/Findings database
- Exit meeting
- Follow-Up on matters reported by Sharia audit
- Preparation of (ISSC) escalation Sharia Audit reports.
- Drafting Sharia guidelines.
- Comply with any additional tasks which could be assigned by the Team Leader/line management.
Specialist Skills / Technical Knowledge Required for this role:
- BA or higher degree in Sharia & Law or any other related subject.
- Fully conversant in Sharia regulatory Audit/Compliance matters and accustomed to dealing with bank senior management
- Good knowledge of markets products
- Skilled at analysing root causes of problems
- Proficient in MS Office (Word Excel and PowerPoint)
- Ability to build constructive and effective relationships with peers and seniors
- Strong analytical written and oral communication skills
- Project management skills
- Relationship building
- Sound judgment
- Strong interpersonal skills
- Ability to multi-task
- Independence of thought and initiative
- Willingness to travel (10-25%)
- Arabic English language.
Previous experience required (if any)
Candidate should ideally possess 10 - 15 years of business experience along with strong Sharia knowledge background in all Islamic banking products for all segments much of which should be in regulatory Sharia Audit environment especially in the Islamic banking/finance industry. Experience in regulatory governance and Sharia compliance management related consultation and advisory Regulatory experience including IIAAAOIFI standards
Required Experience:
Director
DescriptionRole : Head of Internal Sharia Audit AssignmentsLocation : Abu DhabiRole Purpose:Assist the Group Head of Internal Sharia Audit in buildingthe Internal Sharia Audit assignments and monitors ADIBs compliance with Islamic Sharia according to AAOIFI standards and in accordance with the IIA s...
DescriptionRole : Head of Internal Sharia Audit Assignments
Location : Abu Dhabi
Role Purpose:
Assist the Group Head of Internal Sharia Audit in buildingthe Internal Sharia Audit assignments and monitors ADIBs compliance with Islamic Sharia according to AAOIFI standards and in accordance with the IIA standards. Standard of Sharia Governance for Islamic Financial Institutions to ensure their compliance with Islamic Sharia and ensure the adequacy of internal procedures and Sharia governance frameworks.
Key Accountabilities of the role
RESPONSIBILITIES:
Assist in establishing a strategy for Internal Sharia Audit Group functions.
RESULTS REQUIERD:
- Adhere to:
- The AAOIFI Standards.
- The CBUAE HSA Resolutions
- ADIB- ISSC Resolutions
- The Institute of Internal Audit Standards e.g. independence objectivity proficiency and performance of audit work.
- The Internal Sharia Audit objectives mission and vision.
- AsHead of Internal Sharia Audit Functions the main responsibilities are as follows:
- Compile review and summarize Higher Sharia Authority CBUAE HAS and ADIB Internal Sharia Supervisory Committee (ISSC) resolutions.
- Review of Policy and Procedures related to processes/products.
- Develop/review the Sharia Audit Program and identify/define areas of Sharia Non-Compliance Risks.
- Identify and evaluate the Sharia Non-Compliance (SNC) Risks. (Prioritize/quantify the SNC SNC Assessment Likelihood Rating Scale & Criteria Impact Rating Scale & Criteria Overall SNC Score scale Definition & Criteria Identify the Sharia Controls Prioritize quantify and evaluate the effectiveness of Sharia Controls Obtaining Management Consensus).
- List of Sharia Audit requirements/reports.
- Risk Assessment for Finance Products (Assets) only. (Risk Assessment (for Finance Products) - Evaluation framework (scoring system).
- Sampling methodology (Extensive Testing Moderate Testing Standard Testing).
- Prepare Authority Letter.
- Conducting opening meeting and presentation to the respective management/s (Introduction Authority letter/Scope and objectives Findings/exceptions Sharia Audit progress Cooperative administration).
- Formation the Sharia audit assignments teams (team leader and members).
- Use the Sharia Risk and Control Analysis to determine the Sharia Audit Approach (Documenting the Sharia Control Walk-through of Controls Evaluating the Effectiveness of Sharia Compliance Controls Reviewing the Associated Evidences).
Sampling methodology (Defining the Population Number of locations Sharia Control changes Setting the Sample Size Document the Tests to be performed). - Findings/Exceptions Sheets (Finding/Exception Cause Responsibility SNC/ Impact Working Paper/s Ref Recommendation/Policy Reference Management reply &Target Date.
- Preparation of Sharia Audit reports. (Executive Summary Report. Detailed Report).
- Sharia control environment Rating.
- Sharia control rating.
- Exceptions/Findings database
- Exit meeting
- Follow-Up on matters reported by Sharia audit
- Preparation of (ISSC) escalation Sharia Audit reports.
- Drafting Sharia guidelines.
- Comply with any additional tasks which could be assigned by the Team Leader/line management.
Specialist Skills / Technical Knowledge Required for this role:
- BA or higher degree in Sharia & Law or any other related subject.
- Fully conversant in Sharia regulatory Audit/Compliance matters and accustomed to dealing with bank senior management
- Good knowledge of markets products
- Skilled at analysing root causes of problems
- Proficient in MS Office (Word Excel and PowerPoint)
- Ability to build constructive and effective relationships with peers and seniors
- Strong analytical written and oral communication skills
- Project management skills
- Relationship building
- Sound judgment
- Strong interpersonal skills
- Ability to multi-task
- Independence of thought and initiative
- Willingness to travel (10-25%)
- Arabic English language.
Previous experience required (if any)
Candidate should ideally possess 10 - 15 years of business experience along with strong Sharia knowledge background in all Islamic banking products for all segments much of which should be in regulatory Sharia Audit environment especially in the Islamic banking/finance industry. Experience in regulatory governance and Sharia compliance management related consultation and advisory Regulatory experience including IIAAAOIFI standards
Required Experience:
Director
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