Senior Shariah Compliance Specialist

tendersglobal.net

JOB DESCRIPTION

IDB3223 – Senior Shariah Compliance Specialist

Business Unit:ICIEC
Division:Not Applicable
Department:Not Applicable
Contract type:Conditional Regular (Indefinite) Employment
Country:Saudi Arabia
Location:Saudi Arabia – Jeddah
Closing date:24-Jan-2024

JOB PURPOSE:

 

The role holder is responsible for managing all Shariah-related matters of ICIEC operations and handling all aspects related to providing Shariah support/guidance to all Departments in ICIEC to ensure adherence to Shariah principles and safeguard the interest of ICIEC.

 

KEY RESPONSIBILITIES:

 

Shari’ah Compliance Services
  • Provide Shariah support to the business and underwriting teams of ICIEC.
  • Conduct a preliminary review of documents and agreements to ensure compliance with the resolutions of the Shari’ah Board under the supervision of the Manager of Legal Affairs.
  • Translate agreements into the working languages of the IsDBG prior to their submission to the Shari’ah Board.
  • Review outsourced translation to ensure accurate translation of technical terms.
  • Respond to queries on any matter pertaining to the resolutions of the Shari’ah Board.
  • Handle the logistics of the Shari’ah Board meetings in coordination with the Manager, LAD, and Manager, IsDB Shariah Affairs Division.
  • Maintain the Shari’ah Board working documents (templates, forms, databases, checklists etc.).
  • Arrange the circulation of all agenda documents among Shari’ah Board members as required.
  • Attend relevant meetings of management committees such as TUC, ALCO, PDC etc to provide Shari’ah guidance on matters as required.

Shari’ah Audit Support

  • Assist in carrying out internal Shari’ah audit under the supervision of IsDB Shariah Affairs Division.
  • Assist in addressing Shari’ah queries raised by ICIEC external auditors.
  • Procure the clearance of the Shari’ah Board regarding the ICIEC Financial Statement.

Operational Planning

  • Prepare templates of Shari’ah documents and amend them when required and ensure consistency in their use by ICIEC.
  • Assist in the preparation of the Shari’ah Board’s annual work program.
  • Contribute to the preparation, monitoring and implementation of annual budget and resources.
  • Participate in departmental working groups and committees.

Policies & Procedures

  • Maintaining, in accordance with IsDB Group policies and procedures, official documents pertaining to matters relating to the Shari’ah Board.
  • Develop and maintain a repository of existing guidelines, Shari’ah Board resolutions, administrative instructions, regulations and procedures governing the business of the IsDB Group.
  • Provides guidance to ICIEC on Shari’ah matters pertaining to (re)insurance contracts, and Islamic finance agreements by clarifying confusing texts.
  • Performs post-contract administration functions such as analyzing amendments required in (re)insurance contracts, drafting contract amendments, interpreting contract terms etc.

Knowledge Sharing & Innovation

  • Carry out research on assigned issues, such as new products, product enhancement, and innovative applications to emerging circumstances, particular types of provisions, or policy issues.
  • Conduct periodic awareness sessions on relevant Shari’ah topics relating to ICIEC business.

 

Reporting & Communication

 

  • Prepare letters, memos, presentations e-mails, reports and other documents, from brief inputs/outlines provided/dictated by the Shari’ah Board, Manager, and Legal Affairs, proofread and ensure expected quality and standard of format and languages of the final drafts.
  • Prepare periodic reports on activities of the Shari’ah Board at the IsDB Group level to ICIEC Management.
  • Prepare minutes of the meetings under the supervision of the Manager, Legal Affairs.
  • Respond to queries and requisitions.

 

JOB REQUIREMENTS :

 

Field of Study
  • Finance
Academic Qualifications and Relevant Experience Qualification Level High School Diploma Bachelor’s Degree Master’s Degree Doctorate
Experience 5-8 years 2 0
Nature of Experience
  • Prior experience in Finance, in managing and handling financial accounting operations from Insurance, financial, and banking institutions. Preference shall be given to candidates with Insurance / Takaful experience.
Professional Certifications (as applicable)
  • Relevant certifications such as CPA / CA are preferable
Business Language Skills
  • Good command of written and spoken English essential, additional languages such as Arabic, and French is an added advantage

 

Key Performance Indicators:

 

  • No. of Shari’ah matters handled and resolved
  • No. of Shari’ah non-compliance cases addressed/averted
  • Response time to address internal stakeholders on Shari’ah queries
  • Quality of Shari’ah assessment of transactions/contracts
  • Quality of preparation of Shari’ah documentation

 


Apply for job

To help us track our recruitment effort, please indicate in your cover/motivation letter where (tendersglobal.net) you saw this job posting.

Share

Recent Posts

Asphalt Plant Manager

Job title: Asphalt Plant Manager Company Tarmac Job description Job IntroductionAt Tarmac, 'who you are'…

4 minutes ago

Service­tech­niker (m/w/d/x)

Job title: Service­tech­niker (m/w/d/x) Company iperdi Job description ": "DE" } } } | Service­tech­niker…

33 minutes ago

ERTMS Programme Manager

Job title: ERTMS Programme Manager Company Pentalver Job description Freightliner is the UK's largest maritime…

48 minutes ago

Sales Manager / Projektmanager (m/w/d)

Job title: Sales Manager / Projektmanager (m/w/d) Company Hapeko Job description , einem inhabergeführten kleinem,…

1 hour ago

Communication Officer

tendersglobal.net Job Description Job DescriptionAll NRC employees are expected to work in accordance with the…

1 hour ago

Head of Human Resource

tendersglobal.net   VACANCY ANNOUNCEMENT – Head of Human Resource SOS Children’s Villages in Tanzania is…

1 hour ago
For Apply Button. Please use Non-Amp Version

This website uses cookies.