Description

Job Description

Manage advisory function for Structures, Facility Documents of Islamic deals, Sukuk & standard product suite, considering applicable Higher Shariah Authority UAE - CB regulations, AAOIFI Shariah standards, ISSC guidelines and Supervisor's instructions.

DEALS & SUKUK:

• Advise the most appropriate Shari'ah structure for a given transaction, considering the overall dynamics of the deal, considering applicable Higher Shari'ah Authority UAE - CB regulations, AAOIFI Shari'ah standards, ISSC guidelines and Supervisor's instructions.
• Perform the above activity for the deal documentation as well
• Work with internal & external legal counsels during drafting of facility documents for accurate articulation of Shari'ah Compliance concerns in different relevant clauses.
• Work with counterparts in other Islamic Banks in syndications and club deals to mutually resolve all points of disagreement till a final draft can be developed.
• Perform the above listed activities for all the bespoke/customized bilateral transaction, syndications and DCM market as well (Sukuk) generated across the bank.
• Assist Division Head in presentations to the ISSC for procuring necessary approvals on the recommended solutions and documentation suite.
• Approach Executive Member or ISSC to present concepts and documents, procure the required approvals and respond to ISSC's queries as and when required.
• Exhibit strong command on the local and regional regulations pertaining to Islamic Banking and ensure compliance of regulations in day-to-day work.

STANDARD PRODUCTS:

• Provide Shari'ah advisory on new Islamic products on recommendation of product team and business units from CIBG, IBG, & TCM
• Review and obtain approval of product contracts/ documents related to Islamic products.
• Review and obtain approvals on concept papers, product guides, PPGs, policies, Fatwas, SOPs and manuals etc.
• Ensure business/ product queries on day-to-day banking activities related to Shari'ah matters are timely addressed.
• Coordinate with business/ product and Legal team for preparation of legal documents or amendments to the existing documents in light of the Shari'ah compliance requirements.
• Conduct document & SOP mapping related to Shari'ah sensitivities for each Shari'ah contract and provide the list of possible action items.
• Ensure that Shari'ah sensitivities related to Islamic products are duly captured in the SOPs, product guides and standard product documents.
• Review of Digital Journey screens for each product from Shari'ah perspective and to ensure implementation of related guidelines issued by the Internal Shariah Supervision Committee.
• Work closely with Business and IT teams for the development of Digital Journey screens related to each product (liability and asset side) and guide the process from Shari'ah perspective
• TRAINING:
• E Learning maintenance & refresh as required
• Wholesale related training in the annual training plan

Training for new product launches

• Bachelor's degree/Professional qualification in commerce/business/banking. (emphasis on Islamic Banking is a big plus)
• Certification/Qualification in Islamic Banking preferably AAOIFI's certifications
• Significant exposure to Shari'ah principles via studies, courses or extensive on the job learning.
• Extraordinary attention to detail is required.
• Strong communication skills: as Bank wide interaction on technical issues is required.
• Command on MS office.

12 - 15 years plus experience with 7 -10 years relevant experience of Islamic Financial sector (FIs, Accounting & Auditing Firms)