JPC-3792Position: Head of Internal Shariah Audit Assignments
Location: Abu DhabiPosition Type: PermanentHead of Internal Sharia Audit Assignments Job Responsibilities:Assist the Group Head of Internal Sharia Audit in building the Internal Sharia Audit assignmentsStandard of Sharia Governance for Islamic Financial Institutions, to ensure their compliance with Islamic Sharia and ensure the adequacy of internal procedures and Sharia governance frameworks. REPORTING LINE: Group Head Internal Sharia AuditLOCATION: HQ Abu Dhabi. Assist in establishing a strategy for Internal Sharia Audit Group functions. RESULTS REQUIERD: Adhere to: The AAOIFI Standards. The CBUAE HSA Resolutions- ISSC\' Resolutions The Institute of Internal Audit Standards e.g. independence, objectivity, proficiency and performance of audit work.As Head of Internal Sharia Audit Functions, the main responsibilities are as follows: Compile, review and summarize Higher Sharia Authority CBUAESharia Supervisory Committee (ISSC) resolutions. Review of Policy and Procedures related to processes/products. Develop/review the Sharia Audit Program and identify/define areas of Sharia Non-Compliance Risks. Identify and evaluate the Sharia Non-Compliance (SNC) Risks. (Prioritize/quantify the SNC, SNC Assessment, Likelihood Rating Scale & Criteria, Impact Rating Scale & Criteria, Overall SNC Score scale, Definition & Criteria, Identify the Sharia Controls, Prioritize, quantify and evaluate the effectiveness of Sharia Controls, Obtaining Management Consensus). List of Sharia Audit requirements/reports. Risk Assessment for Finance Products (Assets) only. (Risk Assessment (for Finance Products) -Evaluation framework (scoring system). Sampling methodology (Extensive Testing, Moderate Testing, Standard Testing). Prepare Authority Letter. Conducting opening meeting and presentation to the respective management/s (Introduction, Authority letter/Scope and objectives, Findings/exceptions, Sharia Audit progress, Cooperative administration). Formation the Sharia audit assignments teams (team leader and members). Use the Sharia Risk and Control Analysis to determine the Sharia Audit Approach (Documenting the Sharia Control, Walk-through of Controls, Evaluating the Effectiveness of Sharia Compliance Controls, Reviewing the Associated Evidences). Sampling methodology (Defining the Population, Number of locations, Sharia Control changes, Setting the Sample Size, Document the Tests to be performed).Technical Knowledge Required for this role: BA or higher degree in Sharia & Law or any other related subject. Fully conversant in Sharia regulatory Audit/Compliance matters and accustomed to dealing with bank senior management Good knowledge of markets products Skilled at analyzing root causes of problems Proficient in MS Office (Word, Excel and PowerPoint) Ability to build constructive and effective relationships with peers and seniors

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