Unit Head - Shari’a Assessment & Testing

Role Overview

Unit Head - Shari'a Assessment & Testing at ADIB, located in Abu Dhabi.

Role Purpose

Ensure Shari'a compliance across the ADIB Group by continuously monitoring the Bank's business activities and operations in accordance with resolutions, fatwas, and regulations issued by the Higher Shari'a Authority (HSA), the Bank's Internal Shari'a Supervisory Committee (ISSC), the Central Bank of the UAE (CBUAE), and AAOIFI Shari'a Standards, aligned with Shari'a Compliance Department (SCD) policies, procedures, and methodologies, as well as frameworks established by the Internal Shari'a Compliance Group (ISCG).

Key Responsibilities

Supervision & Monitoring

• Assist the Head of SCD in effectively supervising and managing the Shari'a Assessment & Testing (SAT) Unit's functions through continuous monitoring of the Bank's compliance with HSA Resolutions, ISSC Resolutions, and applicable standards and requirements issued by the CBUAE, in accordance with established policies and procedures.

Planning & Strategy

• Develop and formulate the SAT's Annual Shari'a Assessment and Testing Plans in line with internal policies, procedures, and methodologies.
• Ensure the Annual Plan comprehensively addresses all critical areas of Shari'a compliance within the ADIB Group and aligns with the organization's strategic objectives and goals.
• Provide strategic insights and recommendations based on review results.

Assessment & Execution

• Lead and oversee Shari'a monitoring and assurance reviews across the Bank.
• Ensure the effective execution of the Annual Plan in accordance with relevant policies, utilizing a risk-based methodology supported by systems such as the Governance, Risk and Control (GRC) platform.
• Oversee the systematic assessment and evaluation of Shari'a Non-Compliance (SNC) risks and the effectiveness of related controls.

Coordination & Stakeholder Engagement

• Maintain continuous coordination with Business Units and Operational Risk Management functions to identify potential issues and ensure the timely development and implementation of appropriate mitigating controls.
• Ensure the timely, clear, and accurate communication of Shari'a compliance review findings and reports to relevant business and process stakeholders, facilitating informed decision-making and prompt remediation.
• Provide timely and effective support to other SCD functions, including the Shari'a Review and Assurance (SRA) Unit, as required.

Reporting & Governance

• Ensure the preparation of detailed reports on Shari'a review and testing findings, tailored to various stakeholders and committees, in accordance with applicable policies.
• Prepare periodic reports to the ISSC and other applicable committees.
• Provide regular, accurate, and structured updates to the Head of SCD on the status of agreed action plans, including progress tracking, key risks, and escalation of overdue or high-risk items.

Compliance & Implementation Management

• Ensure the effective and timely implementation of action plans arising from Shari'a compliance reviews, with robust follow-up and monitoring mechanisms to enhance the effectiveness of overall Shari'a compliance controls.
• Monitor progress and ensure the timely implementation of Shari'a compliance issues identified during assessments.
• Implement, maintain, and continuously enhance the policies, procedures, and methodologies of the SCD and SAT Unit.

Team Leadership

• Provide leadership and guidance to the execution team to ensure the highest standards of Shari'a compliance monitoring and reporting are maintained.
• Undertake additional assignments as directed by the Head of SCD.

Qualifications & Experience

• Bachelor's degree in Shari'a/Islamic banking or equivalent.
• Postgraduate or higher qualification in Shari'a/Islamic banking or equivalent.
• 10+ years of experience in Shari'a related functions in Islamic banking, preferably in Shari'a Compliance and/or Internal Shari'a Audit.

Skills & Competencies

• Strong academic background and experience in Shari'a compliance.
• Expert knowledge of banking and Islamic banking products.
• Expert knowledge of the principles of Islamic commercial jurisprudence, Shari'a standards, products, and Islamic banking operations.
• Expert knowledge of AAOIFI Shari'a Standards.
• AAOIFI CSAA and/or CIPA certifications (or equivalent certifications).
• Excellent communication and presentation skills.
• Reasonable legal and compliance background.
• Ability to balance between compliance requirements and business needs.
• Experience in leadership roles.
• Fluency and proficiency in both Arabic and English.