Deputy Manager – Sharia non compliance Risk controller

2 weeks ago

Muscat, Muscat, Oman Bank Nizwa Full time 70,000 - 120,000 per year

Job Objective:

To identify, measure, monitor, control and manage any real or perceived risk of Sharia non-compliance across the entire organization.

Accountabilities / Responsibilities:

  • Establish control measures, parameters and framework to manage and continuously monitor Sharia non-compliance risk in the Bank as well as in transactions and Detect Sharia non-compliant transactions and events for each parameter
  • Preparing a monthly comparative schedule to present the development in all the Sharia non-compliance risk parameters to be presented to SSB in its quarterly meetings.
  • Review quarter MIS report coming from business depts.
  • Review sharia audit reports and figures out any non-sharia compliance and updated our report.
  • Review all SRR prepared by ISR or sharia complains and structuring Dept., and deducted the potentials non-sharia compliance risk.
  • Report Sharia non-compliance transactions especially related to documentations, executions, operations, accounting record as well as system behaviour.
  • Work in hand with IT Department to ensure execution of products avoid any potential Sharia non-compliant sensitivity elements
  • Proposed Sharia mitigates against Sharia non-compliant risk
  • Review all CBO/audit reports /HSSA resolutions and updated or control measures.
  • Identifying the Sharia non-compliance risk parameters for each department or function.
  • Prepare and update the sharia risk policy and any related procedures or form in line with CBO instructions and market practices.
  • Establishing a prudent and comprehensive framework with adequate systems and controls for managing Sharia non-compliance risk.
  • Managing the perceived Sharia non-compliance risks of various activities and departments in coordination with Internal Sharia Reviewer.
  • Giving a scale for each product from (high to low) according to sharia risk
  • Measuring quantitatively the volume of the identified parameters and detect any Sharia non-compliance events for each parameter
  • On a monthly basis a report will be send to the CEO with all the activities that has been done & highlight any sharia risk activities
  • Prepare SRR for new proposals and incorporated sharia comments and rules in the final FOLs
  • Attending SSB/EX COM meetings and updated or reports and control measures in line of sharia directions and new rules.

Qualification:

  • Essential (E): B.A. or Masters in Sharia
  • Desirable (D): B.A. or Masters in Finance or Risk Management

Work Experience:

  • 6 Years

Knowledge & Skill:

  • Financial and technical analysis
    skills
  • Reporting skills in English and Arabic
  • Advance level in English language and Arabic
  • Advance level in MS office.

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