Shariah Compliance & Regulations Manager

This is a fully remote position, open to applicants in Pakistan.

📋 Description

• Execute Shari’ah Compliance Checks and evaluate internal Shari’ah Controls related to Islamic business activities and operations as per the approved annual plan.

• Monitor and document Shari’ah Non-Compliance Risks identified during Field Reviews.

• Support the Manager of Field Visits - Shari’ah Compliance with activities outlined in CBUAE standards and guidelines.

• Design and update the Field Review Manual in accordance with relevant regulations, ISSC guidelines, and CBUAE requirements.

• Create the Annual Review Plan and secure approvals from the Board, ISSC, and Senior Management.

• Develop standardized working papers and checklists for Field Reviews.

• Conduct Field Review engagements and generate both draft and final reports.

• Oversee turnaround times and follow up on the resolution of outstanding issues.

• Prepare Field Review summaries for the Group Head of Compliance, ISSC members, and the CEO.

• Organize Shari’ah Field Reviews, issue notifications and information requirements, and facilitate opening meetings.

• Create working papers to document Shari’ah Field Reviews.

• Perform Shari’ah Reviews of products, activities, and services in accordance with HSA-UAE, ISSC, and AAOIFI guidelines.

• Collect sufficient evidence to form accurate review opinions.

• Conduct exit/closing meetings to discuss observations and findings.

• Issue reports detailing observations, key risks, root causes, remediation owners, and action items.

• Identify Shari’ah controls that require establishment or further attention.

• Distribute reports to relevant stakeholders after review and approval by ISSC/Executive Management.

• Monitor and track observations from Field Reviews.

• Prepare minutes from closing meetings.

• Escalate non-performance and delays in accordance with agreed timelines and levels.

• Propose initiatives to improve Shari’ah governance, controls, and compliance culture.

• Collaborate bank-wide with business groups, Audit, Compliance, Legal, and department/unit heads.

• Maintain independence from functions being reviewed.

⛳️ Requirements

• 5-8 years of experience in an Islamic Bank in Shari’ah Audit/Shari’ah Compliance/Islamic Product Development.

• Must possess at least a Bachelor’s Degree or a Professional Qualification in Business/Accounting.

• Comprehensive understanding of AAOIFI Shari’ah Standards.

• AAOIFI CSAA certification is preferable.

• Significant exposure to Shari’ah principles through studies, courses, or extensive on-the-job training.

• Excellent communication and writing abilities.

• Proficiency in MS Office, particularly PowerPoint.

• Fluent in both spoken and written English.

🏝️ Benefits

• Competitive salary package.

• Opportunities for professional development and training.

• Comprehensive health and wellness programs.

• Work in a dynamic and inclusive environment.