In line with the UAE Government's strategy in empowering and developing nationals, Emirates Islamic is committed to welcoming the young generation into an innovative, modern and supportive work environment to contribute to the nation's success. We are looking to find the best UAEN talent to join our EI family
Key Responsibilities
- Develop an appropriate framework, adequate systems, controls and limits for Shari'ah Non-Compliance Risk management.
- Incorporate possible causes of loss resulting from Shari'ah non-compliance and the failure in their fiduciary responsibilities.
- Capture the risks relating to Shari'ah non-compliance associated with the bank's fiduciary responsibilities towards different fund providers.
- In coordination with Sharia Compliance and Sharia Audit department to ensure that must Sharia requirements permeate throughout the organization and their products and activities.
- Ensure in coordination with Sharia Compliance and Sharia Audit function that the bank's contract documentation complies with Shari'ah with regard to formation, termination and elements possibly affecting contract performance such as fraud, misrepresentation, duress or any other rights and obligations.
- Keep track of income not recognized due to Shari'ah non-compliance and assess the probability of similar cases arising in the future and ensure that appropriate controls and limits are in place to avoid recurrences. Also establish mechanism to monitor income not recognized due to origination from Shari'ah non-compliant activities.
- Set up department level and bank level KRIs to ensure sharia noncompliance risk is measured, monitored and controlled effectively.
Required experience
- Strong technical skills and competency in Risk Management and thorough knowledge of Islamic banking products Preferred
- 1 to 2 years relevant experience - Preferred
- Good Communication skills
- Analytical skills
- UAE Nationals will only be considered
