Shariah Compliance Manager

at  HSBC

Job description

EXPERIENCE & QUALIFICATIONS:

• Have a university degree in Islamic Shariah or relevant specialization.
• More than 5 years working in Shariah departments in banks and financial institutions reviewing documents and transactions.
• Have professional certificate in Shariah and Islamic banking such as CSAA (AAOIFI Certified Shariah Adviser and Auditor) CIBAFI which will be an added advantage.
• Proficiency in English is must and Arabic is advantage.
• Should not have been sentenced by a court in crimes related to honor or honesty or was convicted of offences and sentenced to imprisonment.
  For further details and application information please visit our careers site, searching under reference number (ID: 0000KD1N).
  We support our staff to adopt flexible and alternative ways of working where possible, including working from home and different hours subject to approvals.

ROLE OVERVIEW:

The mission of Global Risk is to oversee and challenge the effectiveness of risk management in HSBC, enable delivery of HSBC’s growth strategy safely in line with risk appetite and own, set and embed operational risk (specifically non-financial risk) policy, framework and tools.
As a Shariah Compliance Manager, you will engage with management on activities supporting the UAE and Intl Countries CRO to oversee the effectiveness of the the Shariah risk management framework and compliance with regulatory requirements in UAE .
As an expert in risk management with commercial understanding, you will support the development and deployment of initiatives on behalf of Global Risk to enable the delivery of HSBC’s growth strategy safely in line with risk appetite.
Reporting into the UAE & Intl Countries CRO, this role is responsible for oversight of the utilisation and adoption of the HBME Shariah Risk Management Frameworks.

DUTIES & RESPONSIBILITIES:

• The role is to provide consultation in relation to the Islamic products and services of the bank.

To implement CB UAE Higher Shariah Authority Resolutions and decisions of the Shariah Committee

• The jobholder will have oversight over Shariah Risk and advice to LOBs/Function on overall strategy.
• The jobholder plays a significant role in the Bank’s strategic Islamic banking business plans and initiatives by ensuring such moves are in line with the expected Shariah requirements along with providing thought leadership on the subject matter for HBME.
• The job holder’s responsibility will include managing the relationship with the Shariah Committee, securing all required Shariah approvals from the Shariah Committee for HBME and planning and organizing the periodic Shariah Committee meetings.
• The Jobholder will support the UAE & Intl Countries CRO to be prepared for attending management meetings in relation to Shariah compliance businesses to ensure the effective line of communication between the Shariah Committee and the Bank as per Shariah Governance Policy.
• To take minutes of the Shariah Committee meetings and draft the minutes and circulate to the members for their feedback and approval.
• To provide training for HSBC staff dealing with Shariah compliant products including back office such as GM operations.
• To ensure that key controls in Murabaha Operations in Global Market are robust and working.
• To provide Shariah support and expertise for the business/functions in timely manner in relation to Run off businesses as per Governance Framework.
• To ensure that any Commitment to Donate Amount in relation to Shariah compliant businesses is managed in accordance with the guidance of the Shariah Committees.
• To support RC in relation to dealing with regulators relating to Islamic products and services of the bank.
• The jobholder will undertake periodic Shariah reviews.
• The jobholder shall conduct research on Shariah issues when needed.

Requirements