AVP- Shariah Compliance (Emiratised)

JOB PURPOSETo support Head of Shariah Compliance in managing endtoend Shariah compliancerelated matters for FABs Islamic banking activities within the bank and conducting Shariah compliance initiatives and functions are effective in ensuring that the activities and operations carried out by FAB do not contravene with Resolutions of Internal Shariah Supervision Committee (ISSC) Higher Shariah Authority (HSA) Central Bank of UAE Internal Shariah Supervision Committee and all other related laws rules and regulations relating to Islamic banking.To provide Shariah compliance advice and support to Islamic banking business line and other related enablement functions to ensure Shariah compliance with the rules regulations and best practice. This role is a global role and jobholder will also be responsible for overseeing Shariah Compliance programs for all Islamic banking activities in the international locations where FAB is present under supervision of Head of Shariah Compliance.This is one of the functions required by Standards on Shariah Governance and Shariah Compliance Functions issue by CBUAE.KEY ACCOUNTABILITIESJob Specific AccountabilitiesThe role assumes responsibility of assisting Head of Shariah Compliance for monitoring compliance of the Banks Islamic banking businesses and activities with resolutions fatwas regulations standards which are issued by ISSC HAS and other relevant authorities in local and international locations where the Bank conducts its Islamic banking operations.Under supervision of Head of Shariah Compliance the role shall assume the following responsibilities:Assist Head of Shariah Compliance in creation implementation and monitoring of Shariah Compliance initiatives and functions for FAB that properly address Shariah compliance needs and requirements in line with Resolutions of Internal Shariah Supervision Committee (ISSC) Higher Shariah Authority (HSA) Central Bank of UAE Internal Shariah Supervision Committee and all other related laws rules and regulations relating to Islamic banking.Conduct periodical Shariah compliance review and assessment or review exercise on the Banks Islamic banking activities and operations and prepare Shariah Compliance reports from time to time.Effective monitoring of implementation of all Shariah regulations issued by HSA which includes among others conduct of gap analysis exercises on the applicable Islamic banking activities and operations of the Bank based on the applicable Shariah regulations.Establishment and implementation of Shariah compliance related framework policies or procedures.Effective support and advice to respective business support and control functions with regards to Shariah compliance requirements including resolutions and fatwas issued by ISSC and HSA.Preparation and submission of Shariah reports and updates to the relevant stakeholders e.g. ISSC BRESGC GCEO HAS and CBUAE as applicable.Effective communications or dealings with HSA and CBUAE with regards to Shariah compliance matters.Effective management of Shariah noncompliance issues including identification measurement rectification and monitoring of Shariah noncompliance incident(s).Wherever applicable provide timely Shariah compliance advisory and support to the Islamic banking business support and control functions to ensure Islamic banking operations products and services conducted or offered by the bank adhere and comply with relevant regulatory guidelines/policies and shariah principles/standards which focuses on.Build and maintain productive relationships with the relevant control support and business partners to ensure effective implementation of Shariah compliance requirements in all Islamic banking activities and operations locally and internationally.Provide Shariah compliance advice to the business on Islamic and Sharia regulatory developments from all impacted regulatory jurisdictions.Conduct Shariah Compliance review and prepares Shariah Compliance reports on Shariah compliance levels on FAB Islamic banking activities and operations of the business and support units within the bank with the objective of ensuring that the activities and operations carried out by FAB do not contravene with the Shariah rules and principles. Shariah compliance assessment reports are submitted to ISSC before it is issued to the CEO as required by the regulation.Assist Head of Shariah Compliance in providing updates to the ISSC senior management and the Bank in general on the latest developments in legal and regulatory requirements in Islamic finance especially in relation to issuance of the resolutions of HSA.Plan establish manage Shariah compliance training to relevant staff in accordance with their areas of work on relevant Shariah requirements governing the Banks operations business affairs and activities including requirements in Islamic banking products and services. This among others intended to create a Shariah compliance culture within relevant departments and staff involved in I