Senior Manager, Shari'a Audit

Role Overview

Senior Manager, Shari'a Audit at ADIB, Abu Dhabi. Responsible for organizing and managing internal Shari'a audit assignments according to internal Shari'a audit plans, overseeing the audit process, making policy recommendations, and ensuring organizational conformance with Shari'a rules and principles to provide reasonable assurance that Shari'a risk is mitigated to an acceptable residual level. May serve as project leader on standard audits and conduct complex audits independently.

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.

Key Responsibilities

Compliance & Standards

• Adhere to AAOIFI Standards.
• Adhere to the Institute of Internal Audit Standards, including independence, objectivity, proficiency and performance of audit work.
• Adhere to Internal Shari'a Audit objectives, mission and vision.

Audit Assignment Execution

• Perform internal Shari'a audit assignments and designated duties efficiently and effectively based on the risk-based Shari'a Audit approach sketched by line management and in consultation with Team Leader.
• Complete assigned duties within projected time scale and justify any variances to Team Leader.
• Complete the assignment performance appraisal performed by Team Leader at the end of each Shari'a audit assignment.

Audit Planning & Preparation

• Assist Team Leader or line management in preparing risk-based Shari'a audit plans as Senior Manager Shari'a Auditor of High/Medium/Low risk assignments or Team Leader of Medium/Low risk assignments by developing an understanding of activities.
• 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, ensuring changes and additions 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 to be used 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 commencement 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 the steps implemented or 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.

Working Papers & 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, contain Shari'a Audit program, and are considered complete and adequate to support exceptions.
• Ensure that paper-based working papers and other Shari'a audit documents are adequately protected and secured throughout the assignment.

Audit Follow-up & Reporting

• Follow up on receipt of client management replies to exceptions according to Shari'a Compliance policy within 3 working days.
• Promptly bring to the attention of line management any deviation that could result from delaying Shari'a audit process during fieldwork or draft report stages.
• 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.

Guidance & Support

• Provide guidance to other Shari'a Auditors in consultation with or as requested by Team Leader.
• Enhance decision-making skills.
• Achieve high standards of behavioral competencies according to competencies defined by line management, consulting with Team Leader on competencies below standards.
• Keep a constructive working relationship with Shari'a Audit clients to achieve overall objectives.
• Maintain excellent teamwork environment and team spirit.

Knowledge & Professional Development

• Achieve very good knowledge of ADIB processes, policies, and procedures and AAOIFI/IIA standards.
• Understand and improve working knowledge on all automated Shari'a auditing tools.
• Maintain very good efficient and professional oral and written communication skills.

Special Projects & Training

• Participate in special reviews related to Shari'a whenever requested, assisting in determining circumstances which enabled such situations, identifying responsibility for any losses or failures to comply with Shari'a policy and procedure, and providing recommendations for Team Leader and line management review.
• In coordination with Team Leader, train new and existing staff on Shari'a related issues and Shari'a Audit Approach.
• Review new and changes to 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.

General

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

Qualifications & Experience

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

Skills & Competencies

• Arabic and English language proficiency.
• IT skills.