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Key Responsibilities and Accountabilities
Functional
Development & Control
- To develop and continuously enhance the Shariah Compliance Risk Management Framework and other risk management policies and procedures relevant to Islamic Banking Businesses. This includes customizing relevant Group policies for HLISB implementation.
- Facilitate risk assessment and control effectiveness assessment for new businesses, products or services during development stage and pre-launch stage as part of the Bank's PVPC process.
- Continuous monitoring of risk profiles and controls effectiveness to facilitate efficient and effective management of Islamic Banking Business Risk and Shariah non-compliance risk as well as ensuring HLISB stays within the risk thresholds set out in the Risk Appetite Statements.
Monitoring & Report
- Track and report rectification status of Shariah non-compliant events.
- Track and report purification of non-permissible income through income de-recognition.
- Provide timely and independent reporting and escalation of key risks and controls issues to BARMC, Shariah Committee and Senior Management.
Shariah Compliance
- Facilitate introduction of new controls to better mitigate/minimize Islamic Banking Business risk and Shariah non-compliance risk.
- Responsible together with the Shariah Division as reporting unit on Shariah non-compliance reporting to BNM.
- Engage regular communication with other internal Shariah compliance functions to ensure timely sharing of information and proper coordination to handle any emerging Shariah compliance matters.
Organizational
- Inculcate proactive risk management culture in the Bank.
Education/Qualification
- Degree or Masters in Business Administration, Finance, Accounting, Banking or related discipline with relevant working experience in the area of risk managementwithin the financialservices industry.
Experience- Five years and above workexperience in a financial institution. Candidates with less than five years working experience may also apply if previous experience is relevant to Shariah Compliance Risk Management.
Special Skills- Analytical Thinking
- Critical Thinking
- People Management
- Communication Effectiveness
- Stakeholder Management
Certification/Licensing Requirements- Professional qualification in Shariah, Islamic Finance or Islamic Banking isa plus.
