AVP - Standard Products & Training

Job Purpose:

To assist in reviewing and providing Shari’ah Advisory for new and existing Islamic products in Corporate, Retail, Treasury and Subsidiaries, and for new projects along with Shari’ah training function for the bank as and when required by the Supervisor.

Key Result Areas:

Advisory: Standard Products

Assist the supervisor to:

• Provide Shari’ah advisory on new Islamic products on recommendation of product team and business units from CIBG, IBG, RBG, TCM and subsidiaries.

• Provide Shari’ah advisory on existing Islamic products and work closely with CIBG, IBG, RBG, TCM and subsidiaries for maintenance of Islamic products.

• Review and obtain approval of product contracts/ documents related to Islamic products.

• Review and obtain approvals on concept papers, product guides, PPGs, policies, Fatwas, SOPs and manuals etc.

• Review and obtain approvals on BRDs and FSDs 

• Ensure business/ product queries on day-to-day banking activities related to Shari’ah matters are timely addressed.

• Coordinate with business/ product and Legal team for preparation of legal documents or amendments to the existing documents in light of the Shari’ah compliance requirements.

• Submit Shariah cases to Executive Member of ISSC to seek guidance and obtain Shariah approvals 

• Conduct document & SOP mapping related to Shari’ah sensitivities for each Shari’ah contract and provide the list of possible action items.

• Ensure that Shari’ah sensitivities related to Islamic products are duly captured in the SOPs, product guides and standard product documents.

• Review  Digital Journey screens of  products, services, digital channels and other customer-facing banking processes / digital banking initiativesfrom Shari’ah perspective and to ensure implementation of related guidelines issued by the Internal Shariah Supervision Committee.

• Work closely with Business and IT teams for the development of Digital Journey screens related to  product (liability and asset side) and guide the process from Shari'ah perspective.

• Ensuring the process / timings of Legal documents and transactional level contracts execution for each product via Digital Journey Screens.

• Compile and send responses to clients on Scholar@mashreq.com portal after getting its draft approved from line manager. 

• Obtain approvals on marketing/ promotional material etc.

• Ensure that all active Islamic products’ documents are kept updated and required changes are approved by the relevant approving authority.

• Assist Line Manager in engaging with cross-functional departments to support closure of Shariah-related Audit open items.

• Join project based cross-functional teams and/ or working committees to get Shari’ah requirements fulfilled.

• Respond to internal stakeholders for their queries/ requests related to Shari’ah compliance.

Mashreq Capital & Securities:

• Provide Shari’ah Advisory to Mashreq Capital and Mashreq Securities and may respond to their day to day banking queries/requests related to Shari’ah compliance.

• Assist in coordination with Shari’ah Supervisory Board members of Mashreq Capital in arranging necessary approvals related to Sukuk, Funds, equities, legal agreements, SSB Annual reports, SSB Agreement/contract, Zakah calculation and Charity disbursement etc.

Mashreq Bank Pakistan (MBP):

• Review of policies, frameworks, SOPs for Mashreq Bank Pakistan (MBP).

• Arrange Unit Manager & Head – IFASC’s approvals as per internal delegation matrix to ensure Shari’ah Governance from a Mashreq Group perspective. 

   

Shari’ah Training:

Assist the supervisor to:

• Establish knowledge base in Mashreq through developing effective and appropriate technology enabled learning and development training courses and material which comply with the CBUAE Shari’ah Governance, AAOIFI Shari’ah Standards and the Internal Shari’ah Supervisory Committee (ISSC).

• Design and deliver training courses which are tailor made to different roles and functions in the first, second and third lines of defense.

• Conduct sessions post new product launches to make staff familiar with the Shariah sensitivities in the process and documentation.

• Conduct refresher training on Islamic banking and products upon request from business.

• Prepare knowledge nuggets and manage their bank-wide recurring circulation.

• Periodically report the progress to the ISSC on the training calendar.

• Work closely with MLS to develop new e-learning courses for various groups across the bank as per the approved training calendar.

Operating Environment, Framework and Boundaries, Working Relationships:

• Product Managers across the Bank

• Islamic Business Teams

• MLS Training Head

• Bank-wide interaction, as and when needed

• Consultation with business and product teams

• Detailed internal discussions 

• Detailed discussions with other teams as and when needed

• Bank policies, AAOIFI and SSB’s guidelines

Problem Solving:

Efficiently complete assigned tasks without compromising Shariah Compliance

Decision Making Authority & Responsibility:

Approve to the extent of delegation

Knowledge, Skills and Experience:

• Graduation in business/banking or Professional qualification in Finance

• Certification/qualification in Islamic Banking

• Significant exposure to Shari’ah principles via studies, courses or extensive on the job learning

• Extraordinary attention to detail is required

• Strong communication skills: as Bank wide interaction on technical issues is required

• Command on MS office

• 6-7 years experience of Islamic Banking in Product Development, Shari’ah Advisory and/ or Shari’ah Compliance Department

• Arabic language capability will be a plus