JOB DESCRIPTION FOR SHARIAH COMPLIANCE OFFICER
JOB SUMMARY:The Shariah Compliance Officer is responsible for ensuring that all organizational operations, products, and services comply with Shariah principles and guidelines. This role also includes providing Shariah advisory, conducting compliance reviews, and facilitating the integration of Shariah principles into business processes.
Key Responsibilities:
- Provide guidance on Shariah compliance in all aspects of the organization’s operations, products, and services.
- Serve as the liaison between the organization and the Shariah Advisory Board, ensuring alignment on compliance matters.
- Participate in the development and review of new products and services to ensure compliance with Shariah principles.
- Review marketing and communication materials for Shariah compliance.
- Ensure financial instruments and contracts comply with Shariah standards.
- Develop, implement, and maintain Shariah compliance policies and procedures.
- Update policies to align with changes in regulatory requirements and Shariah standards.
- Conduct periodic Shariah compliance reviews and audits of products, services, and business practices.
- Identify non-compliance issues and recommend corrective actions.
- Prepare periodic reports on Shariah compliance status for the management and Shariah Board.
- Build and maintain strong relationships with the Shariah advisory board, internal departments, and external stakeholders.
- Communicate effectively with stakeholders on Shariah-related matters.
QUALIFICATIONS:
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Education:
Bachelor’s degree in Islamic law, Islamic Studies, or related field.
Master’s degree or Post Graduate Diploma in Islamic Banking and Finance is preferable. - Certifications: Professional certification such as CSAA, CIPA or CISSA or any other relevant shariah certification is an advantage
- Experience: Minimum of 2-4 years experience in Shariah compliance, Islamic banking, or a related field.
- Strong knowledge of Shariah principles and Islamic finance.
- Excellent analytical and problem-solving skills.
- Strong interpersonal and communication skills.
- Ability to work independently and collaboratively within a team.
- Detail-oriented with excellent organizational skills
- Strong attention to detail.
- Compliance Accuracy: Number of non-compliance incidents identified and resolved.
- Product Compliance: Percentage of products/services reviewed for compliance before launch.
- Training Effectiveness: Level of staff satisfaction with Shariah compliance training and awareness training.
- Timeliness: Percentage of Shariah audits and inspections completed on time.
- Query Resolution: Number of Shariah-related queries resolved within specified timelines.
Unsolicited Applications
Candidates are encouraged to send us unsolicited applications because we consider unsolicited resumes and file them for future recruitment.
