Senior Manager, Regulations & Governance

Job Purpose:

Support the Line Manager on matters pertaining to the Regulator(s) for Shariah aspects of Islamic Banking including custody, explanation, coordination with CBUAE and others. Also provide assistance for good governance and strong controls across the Group via different frameworks, tools and technology.

Key Result Areas:

Laws & Regulatory Compliance:

• Maintenance of Master Regulatory Tracker

• Prepare executive summaries for all new notices, regulations, standards and guidelines etc.

• Prepare gap assessments on all laws and regulations

• Timely communication of new laws and regulations to all relevant stakeholders & necessary handholding and explanations.

• Assist on monitoring/implementing existing and new regulatory guidelines where there isn’t a direct responsibility of execution

• Refresh and maintenance of Frameworks emerging from Regulatory requirements

• Provide support in preparing BRC and Board presentations/material.

• Compile and provide updated information on Monthly Exception Reporting

• Perform Business Impact Analysis/Business Continuity Management at established intervals

• Perform Annual Divisional Systems Access Review

• Recommend controls across the organization’s ecosystem to mitigate any non-compliance

• Support in conducting Risk Control Self-Assessment tests (RCSA) of the Division

• Annually review and update Prism on existing adequacy of Risks and Controls

• Maintain archive for the quarterly data and emails exchanges on RCSA

• Support and facilitate Internal and External Audits of IFASC Division

• Help with managing CBUAE Audit submissions

• Maintain record for all submissions

• Responsible for maintaining and updating the Charity Manual

• Support timely disbursement of charity ensuring compliance with approved charity manual

• Ensure Zakat calculations are as per the guidelines issued by ISSC

Governance & Compliance:

Risk Control Self-Assessment Testing:

Audit Engagements:

Charity Disbursement & Zakat Notification:

Operating Environment, Framework and Boundaries, Working Relationships:

• Bank-wide interaction: All Business Groups / Audit / Compliance

• Internal & External Audits

• Group entities / colleagues across the group

• CBUAE

• ISSC

• Play a highly collaborative role in building solid cross-functional relationships with departmental heads and management across the business.

Problem Solving:

• Ability to articulate the Regulatory requirements clearly and in simple language

• Innovative recommendations for gap fulfilment in a satisfactory manner.

• Ability to ascertain the hazard level (low/medium/high).

• Prioritization is based on relative importance of different elements of work.

• Strong attention to detail

• To ensure compliance with the AAOIFI Shari’ah standards and CBUAE guidelines/policies.

Decision Making Authority & Responsibility:

• Shari’ah Compliance gap flagging and timely reporting to management

• Approvals and commentary on Regulations

Knowledge, Skills and Experience:

• 10 plus years of experience in Governance, Operations, Audit or Compliance, preferably in Islamic Bank or Window, especially facing the Regulator.

• Should at least hold a bachelor’s degree/ Professional Qualification in Business/ Accounting.

• Good understanding of AAOIFI Shari’ah Standards.

• Reasonable exposure to Shari’ah principles via studies, courses or extensive on-job learning.

• Strong communication and writing skills, as bank-wide interaction on technical issues are required

• Command on MS Office especially Power Point