About the Role:
The Senior Shari’a Compliance Officer is responsible for ensuring Shari’a compliance across the organization in accordance with the policies set by the Higher Shari’a Authority (HSA) and the relevant regulations issued by the Central Bank of the UAE (CBUAE). This role involves supporting the management in receiving and recording new HSA and ISSC resolutions, ensuring their timely dissemination, conducting thorough gap assessments, and monitoring the implementation of action plans relevant to these assessments.
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Key Accountabilities of the Role:
- Assist the team leader in managing and supervising the SRA unit’s various functions and team members according to applicable procedures and policies.
- Ensure timely dissemination and accurate recording of new HSA Resolutions and related ISSC Resolutions.
- Conduct thorough analysis of resolutions and ensure precise input into the system, including accurate translation when required.
- Coordinate with the team leader to understand the Bank’s various business and operational functions to accurately identify key stakeholders.
- Maintain an organized and up-to-date database of all resolutions for easy access and reference using the Governance, Risk and Control (GRC) system.
- Communicate new HSA Resolutions and related standards to relevant departments and stakeholders according to established procedures.
- Ensure comprehensive understanding and effective implementation of these resolutions throughout the organization.
- Conduct comprehensive gap assessments against HSA Resolutions, identify obligations to stakeholders, and assess related risks and controls, as directed by the team leader.
- Identify areas of Shari’a non-compliance and recommend corrective actions accordingly.
- Monitor the implementation of action plans derived from the gap assessments.
- Ensure timely resolution of Shari’a compliance issues.
- Provide regular updates to the team leader on the status of obligations, action plans, and other relevant issues.
- Prepare relevant reports and dashboards for different stakeholders in alignment with policies and procedures.
- Assist in the implementation and refinement of related policies, procedures, and methodologies.
- Provide support to other Shari’a Compliance Department functions when necessary.
Specialist Skills / Technical Knowledge Required for this Role:
- Bachelor’s degree in Shari’a/Islamic banking or equivalent.
- Relevant academic skills or experience in Shari’a compliance.
- AAOIFI CSAA and/or CIPA certifications or equivalent.
- Good understanding of banking and Islamic banking products.
- Strong knowledge of Islamic Commercial Jurisprudence principles, Shari’ah standards, and Islamic banking operations.
- Experience with AAOIFI Shari’a Standards.
- Excellent communication and presentation skills.
- Basic legal and compliance background.
- Ability to balance compliance requirements with business needs.
- Fluent proficiency in Arabic and English.
Previous Experience:
- Minimum 5 years of experience in Shari’a related functions in Islamic banking, preferably in Shari’a Compliance, Shari’a Consultation, and/or Internal Shari’a Audit.
