Unit Head - Regulations, Governance and Training

Job Purpose:

One stop solution for matters pertaining to the Regulator(s) for Shariah aspects of Islamic Banking including custody, explanation, coordination with CBUAE and others. Also, hold responsibility for good governance and strong controls across the Group via different frameworks, tools and technology. Manage and govern all learning data related to Islamic banking and Shari’ah training

Key Result Areas:

Laws & Regulatory Compliance: 

▪ Maintenance of Master Regulatory Tracker 

▪ Point of contact for the Bank with HSA/CBUAE traffic 

▪ Prepare executive summaries for all new notices, regulations, standards and guidelines etc. 

▪ Prepare gap assessments on all laws and regulations 

▪ Timely communication of new laws and regulations to all relevant stakeholders & necessary handholding and explanations. 

▪ Oversight on monitoring/implementation of existing and new regulatory guidelines where there isn’t a direct responsibility of execution 

▪ Periodic submissions to the CBUAE as required in the regulations 

▪ Refresh and maintenance of Frameworks emerging from Regulatory requirements 

▪ Preparing BRC and Board presentations/material and coordination with Board Secretariat 

Governance & Compliance: 

▪ Compile and provide updated information on Monthly Exception Reporting 

▪ Perform Business Impact Analysis/Business Continuity Management at established intervals 

▪ Perform Annual Divisional Systems Access Review 

▪ Recommend controls across the organization’s ecosystem to mitigate any non-compliance 

Risk Control Self-Assessment Testing: 

▪ Conducting Risk Control Self-Assessment tests (RCSA) of the Division 

▪ Annually review and update Prism on existing adequacy of Risks and Controls 

▪ Maintain archive for the quarterly data and emails exchanges on RCSA

Point of Contact for Audits:

▪ Responsible to facilitate Internal and External Audits of IFASC Division

▪ Responsible for managing CBUAE Audit submissions

▪ Manage and respond to the Audit Observations tagged to IFASC on PRISM

Charity Disbursement & Zakat Notification:

▪ Responsible for maintaining and updating the Charity Manual

▪ Ensure timely disbursement of charity ensuring compliance with approved charity manual

▪ Ensure Zakat calculations are as per the guidelines issued by ISSC

▪ Arrange ISSC approval on Zakat calculation and notify it to Company Secretary

ISSC Secretariat Support:

▪ Tasks assigned for the ISSC or preparation of its meetings (pre & post)

▪ Action item stemming from ISSC meetings

Training & Development:

▪ To manage training, research and development function in IFASC in line with CBUAE requirements

and best practices in the Islamic banking industry.

▪ To coordinate and conduct Learning needs assessments and subsequent announcement and

execution of Islamic banking and Shari’ah training plans.

▪ To collate and report periodically, the progress across the Bank on training requirements.

▪ Ensure timely and accurate updates of training records in the Learning Management System of the Bank

▪ Provide training MIS to IFASC and Shari’ah Audit Division on demand

Operating Environment, Framework and Boundaries, Working Relationships:

▪ Bank-wide interaction: All Business Groups / Audit / Compliance

▪ Internal & External Audits

▪ Group entities / colleagues across the group

▪ CBUAE

▪ ISSC

▪ To play a highly collaborative role in building solid cross-functional relationships with

departmental heads and management across the business.

▪ To collaborate with division heads in order to identify areas that require Shari’ah training

▪ Operates in a very competitive environment where customers are extremely demanding, where timeliness and quality of learning solution design and delivery is significant.

Problem Solving:

▪ Ability to articulate the Regulatory requirements clearly and in simple language

▪ Innovative recommendations for gap fulfilment in a satisfactory manner.

▪ Ability to ascertain the hazard level (low/medium/high).

▪ Prioritization is based on relative importance of different elements of work.

▪ Strong attention to detail

▪ To ensure contingency plans are in place and to manage effective delivery of classroom and online

training.

Classification: Confidential

▪ To investigate problems faced by employees in training sessions (with respect to the training

material or delivery of the training course).

▪ To ensure compliance with the AAOIFI Shari’ah standards and CBUAE guidelines/policies.

Decision Making Authority & Responsibility:

▪ Shari’ah Compliance gap flagging and timely reporting to management 

▪ Approvals and commentary on Regulations

Knowledge, Skills and Experience:

▪ 10-12 years of experience in Governance, Operations, Audit or Compliance, preferably in Islamic Bank or Window, especially facing the Regulator.

▪ Should at least hold a bachelor’s degree/ Professional Qualification in Business/ Accounting.

▪ Understanding of AAOIFI Shari’ah Standards.

▪ AAOIFI CSAA (preferable)

▪ Should have significant exposure to Shari’ah principles via studies, courses or extensive on-job learning.

▪ Strong communication and writing skills, as bank-wide interaction on technical issues are required

▪ Command on MS Office especially Power Point