Avp & Shariah Audit Manager

3 weeks ago


Abu Dhabi, United Arab Emirates bankfab Full time

First Abu Dhabi Bank (FAB) Al Qurm Business Park, Abu Dhabi, United Arab Emirates
- Full-time
- Division: Group Internal Audit
- Sub Division: Internal Shariah Audit

**JOB PURPOSE**:
**KEY ACCOUNTABILITIES**:
**Strategic Contribution**
- Assisting in the shariah audit of FAB Group’s Islamic Banking and related activities in the UAE and across the international network (including FAB Group’s Subsidiaries).
- Ensure that shariah audits are conducted in accordance with the objectives laid down in the Annual Plan and ensure that the shariah audit program is completed in an efficient and effective manner on or ahead of schedule. Inform Head of ISA about any potential delays and/or changes to the Annual Plan.

**People Management**

In undertaking audits:
Provide guidance and on the job training for junior colleagues and conduct knowledge sharing to facilitate achievement of team objectives and completion of tasks in an efficient manner which is consistent with operating procedures and policy.

**Policies, Systems, Processes & Procedures**
- Execute to established ISA Manual, Policies, Procedures and Guidance Notes in undertaking all tasks. Provide input to the development of ISA practices as per industry standards and regulatory expectations.
- Review all the activities of the Units within Islamic Banking activities in all the jurisdictions in which they operate to define and maintain the Shariah Audit Universe. Coordinate with other teams to ensure efficient and effective coverage.
- Prepare and maintain SNC Risk Assessment of each of the Process Streams within Islamic Banking and applicable subsidiaries (e.g. international entity) as identified in the Shariah Audit Universe.
- Establish/update and maintain Shariah Audit programs.
- Compiling and reviewing HSA / ISSC resolutions. Also ensure that the resolutions are incorporated in the related Shariah audit program.
- Identifying, measuring, controlling and monitoring Shariah non-compliance risks in FAB Group Islamic banking operations, business and activities.
- Recommend remedial rectification measures to resolve Shariah non-compliance risks and improve control mechanism, to ensure effective internal control system for Shariah compliance and avoid recurrences in SNC risks.
- Draft audit findings submitted by junior auditors are properly reviewed and finalized.
- Shariah audit reports are discussed and finalized with Head of ISA/client in timely manner as per shariah audit plan. Negotiate with Unit management to agree a documented Management Action Plan to resolve the findings raised. Conduct any investigations/special reviews assigned by Head of ISA.
- Assist in undertaking any investigations/special reviews assigned by Head of ISA.
- On an ongoing basis, ensure pending audit findings are followed up with Unit management and that all corrective actions are fully and properly implemented
- Completing the assigned duties within projected time scale and that any variances been properly justified to Head of ISA.

**Continuous Improvement**
- Lead the identification of change through continuous improvement of processes and practices considering global standards and changes in the business environment which demand proactive action plans.

**Relationship Management**
- Develop and maintain effective business relationships with all relevant external/internal entities and stakeholders with the highest standards of business ethics, whilst promptly attending to all critical issues in-order to ensure that shariah audit objectives are achieved in the most effective manner.
- Act as the Shariah Audit Business Partner for Line Managers and actively manage the relationship through regular meetings with them to promote this concept and identify emerging risks. Such meetings should also be used to discuss any material gaps between audit assessment or risks and controls and the businesses’ self-assessment.
- Ongoing consultancy/advice is provided to Unit management from a governance, risk management and control perspective for improvements in their processes to ensure effective and efficient controls, on the basis of best practices.

**Reporting**

Ensure that shariah audit reports are prepared timely and accurately and meet HAS, ISSC and ISA requirements, policies and quality standards.

**FRAMEWORKS, BOUNDARIES, & DECISION MAKING AUTHORITY**:
Functions within the framework and boundaries of ISA policies as well as overall organisational and governance frameworks.

**Qualifications**:
**QUALIFICATIONS & EXPERIENCE**:
**Minimum Qualification**
- Bachelor’s degree in Islamic Shariah or relevant specializations.
- CISSA or CIPA certifications of AAOIFI (or alternative professional certificate in Shariah Audit).

**Minimum Experience**
- Minimum 7 years relevant experience.
- Good knowledge of Islamic banking business and associated risks.
- Language: Strong command of English and reasonable commend of Arabic.
- Team-oriented with highly developed problem-solving skills.



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