Senior Manager, Shari'a Audit

Role Overview

Senior Manager, Shari'a Audit at ADIB in Abu Dhabi. Responsible for organizing and managing internal Shari'a audit assignments according to Internal Shari'a audit plans, overseeing audit processes, recommending policy improvements, and ensuring organizational conformity with Shari'a rules and principles to provide reasonable assurance that Shari'a risk is mitigated to an acceptable residual level.

Role Purpose

Perform complex internal Shari'a audit assignments in designated areas of the organization to identify, resolve, and recommend solutions ensuring full compliance with Shari'a resolutions of ADIB's Internal Shari'a Supervisory Committee. May serve as project leader on standard audits and conduct complex audits independently.

Key Responsibilities

Compliance & Standards

• Adhere to AAOIFI Standards.
• Adhere to Institute of Internal Audit Standards, including independence, objectivity, proficiency, and performance of audit work.
• Adhere to Internal Shari'a Audit objectives, mission, and vision.
• Achieve very good knowledge of ADIB processes, policy, and procedures and AAOIFI and IIA standards.

Audit Planning & Preparation

• Perform internal Shari'a audit assignments and assigned duties efficiently and effectively based on the risk-based Shari'a Audit approach sketched by line management and in consultation with Team Leader.
• Develop understanding of activities subject to audit.
• Define related areas of Shari'a risks and controls for all activities and processes subject to Shari'a Audit.
• Draft, revise, and update the Shari'a Audit Program based on Shari'a risk assessment that considers impact and likelihood.
• Ensure any changes and additions to Shari'a audit programs are discussed and approved by Team Leader.
• Compile and review Internal Shari'a Supervisory Committee resolutions and ensure that resolutions are incorporated in the related Shari'a audit program.
• Prepare the checklist for use between the Shari'a Team Leader and members.
• Assist and coordinate with the Shari'a IT Project team or IT Division to develop and improve certain reports required prior to and throughout Internal Shari'a Audit assignments.
• Prepare the Authority letter.
• Prepare and conduct a presentation to all concerned Shari'a audit members, Team Leader, and line management discussing steps implemented and to be implemented during preparation and field work stages.
• Select samples in consultation with Team Leader and according to approved sampling methodologies.
• Prepare the Assignment Planning Memorandum.

Fieldwork & Documentation

• Arrange for and complete working papers and assigned work in a timely manner according to Internal Shari'a Audit management guidelines.
• Hand over working papers to Team Leader in a timely manner without delays.
• Ensure that working papers reflect the work performed, samples selected, and contain Shari'a Audit program and are considered complete and adequate to support exceptions.
• Arrange for and ensure paper-based working papers and other Shari'a audit documents are adequately protected and secured throughout the assignment.

Exception & Compliance Management

• Follow up on receipt of client management replies to exceptions as per Shari'a Compliance policy within three working days.
• Promptly bring to the attention of line management any deviation which could result from delaying Shari'a audit process during fieldwork or draft report.
• Apply risk-based Shari'a Audit methodology to identify critical Shari'a risks, major control weaknesses, and process inefficiencies in a timely manner and report to the respective Team Leader for discussion and opinion.
• Ensure that corrective actions have been taken on all previous Shari'a audit exceptions and highlight repeated issues to the Team Leader on time.
• Ensure that exceptions are drafted properly and promptly by utilizing the exceptions database and discussing exceptions with Team Leader prior to drafting.

Supervision & Development

• Provide guidance to other Shari'a Auditors in consultation with or as requested by Team Leader.
• In coordination with Team Leader, train new and existing staff on Shari'a related issues and Shari'a Audit Approach.

Performance & Reporting

• Complete assigned duties within projected time scale and ensure any variances are properly justified to Team Leader.
• Complete the assignment performance appraisal performed by Team Leader at the end of each Shari'a audit assignment.
• Achieve high standards of behavioral competencies according to competencies defined by line management.
• Consult with Team Leader on competencies below standards.

Special Assignments & Reviews

• Participate in special reviews related to Shari'a whenever requested, including assisting in determining circumstances which enabled such situations, identifying responsibility for any losses or failures to comply with Shari'a policy and procedures, and providing recommendations for Team Leader and line management review.
• Review new and or changes to the bank's policies and procedures related to Shari'a whenever requested by Team Leader in order to evaluate Shari'a control adequacy and related risk mitigation.

Relationships & Communication

• Keep a constructive working relationship with Shari'a Audit clients in order to achieve overall objectives.
• Maintain excellent teamwork environment and team spirit.
• Maintain very good efficient and professional oral and written communication skills.
• Enhance decision-making skills.

Tools & Systems

• Understand and improve working knowledge of all automated Shari'a auditing tools.

General

• Comply with any additional tasks which could be assigned by Team Leader or line management.

Qualifications & Experience

• Bachelor's degree in Sharia, Islamic Economics, or Islamic Banking.
• CISSA and CIPA certifications or alternative certifications.
• Professional certificate in auditing issued by an international organization.
• 5 to 10 years' experience.

Skills & Competencies

• Arabic and English language proficiency.
• IT skills.