Assistant Vice President, Shariah Review

Job Purpose:

Responsible to ensure timely execution of the Bank’s Shariah review program to assess compliance with Shariah and regulations through reviews across all Islamic products and branches within the Bank. To support the Head of Group Compliance Monitoring (GCM) in the oversight of the Bank’s Shariah compliance.

Key Responsibilities:

1. Shariah Review Procedures

• Assist the Head of Group Compliance Monitoring (GCM) to establish Shariah Review Procedures and to perform subsequent reviews to ensure it remains up-to-date and relevant.

2. Shariah Review Plan

• Assist the Head of Group Compliance Monitoring (GCM) to formulate and update the annual Shariah Review Plan.

3. Products and Branches Review

• Lead and conduct Shariah review activities as per the Shariah Review Plan or ad-hoc reviews as and when requested by the Senior Management / Shariah Committee / Board / Regulators.
• Lead, conduct and supervise on Shariah review activities including independent validation of corrective action plans relating to Shariah / compliance issues arising from Shariah reviews.
• Provide constructive recommendations to Business / Support Units and branches with the objective of improving the internal controls and compliance risk awareness within these units.
• Present review reports to Shariah Committee.

4. Shariah Non-Compliant Event

• Provide confirmation on potential Shariah Non-Compliance (SNC) events.
• Lead, conduct and supervise on the potential SNC event investigation and ensure administration of potential SNC events is in accordance with requirements specified in Shariah Review Procedures.

      5. Other Ancillary functions

• Attend to ad-hoc requests and other related matters as deemed necessary by Shariah Committee/ Head of Group Compliance Monitoring (GCM)/ Group Chief Compliance Officer (GCCO).