Deputy Manager, Shariah Risk and Compliance

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1) Assist the Head in managing the performance of Shariah Compliance Reviews on the business, operations, activities and affairs of PruBSN to ensure compliance with Shariah requirements as well as internal and local regulatory requirements

2) Support the Head in Shariah risk management related matters as and when required to ensure Shariah non-compliance risk is adequately identified, monitored, measured and reported to the relevant Committees, Board of Directors and Regulator.

1) Support the Head in managing effective execution and deliverables of Shariah Compliance Review as approved in the Annual Compliance Plan.
- Assist in the planning of Shariah review assignment effectively with identification of high-risk areas to ensure Shariah compliance standards are met against internal and regulatory requirements.
- Execute review assignment in accordance with the specified standards and within the allocated timeline as specified in the Term of Reference (TOR).
- Identify Shariah compliance gap and inadequate procedures in place and provide sound and acceptable recommendations to ensure compliance.
- Ensure thoroughness of review fieldwork with proper supporting documents / working papers based on the approved assignment programme.

2) Assist the Head in managing the Report to the board, Shariah committee and senior management regularly on Shariah non-compliance (SNC) issues and findings.
- Timely submission of the required reports on Shariah compliance matters to the Management and Board with mínimal error within the stipulated timelines.
- Ensure EXCO, Shariah Committee and the Board are keep apprised on the latest developments in legal and regulatory requirements in Islamic finance especially in relation to issuance of the SAC rulings including the assessment undertaken on the impact to business and corrective measures.

3) Undertake independent review and assessment of existing operational procedures for continuous improvement.
- Ensure the internal policies and procedures are in line with the regulatory and Shariah requirements issued by BNM including the Shariah standards and SAC rulings.

4) Ensure proper execution of rectification and mitigation plan of Shariah review observations in particular the SNC incidents as approved by the SC
- To follow-up and monitor the progress of the corrective actions to resolve the identified lapses and gap by the respective action owner for issues raised.
- To ensure no reoccurrence of the similar issues/events in the future.

5) Manage the implementation of Internal Shariah Control Questionnaires (ISCQ) as a self-assessment mechanism on annual basis
- Perform risk assessment to identify low risk areas to be included in the ISCQ exercises.
- Updates the checklist in line with the latest development in the Shariah requirements (BNM’s Shariah standards, SAC rulings and SC decisions).
- Conduct validation on the feedbacks received from the Departments/Functions.

Qualification and Experience:

- A degree in any disciple of Shariah/ Laws/ Islamic Finance related/Accountancy/ Actuarial or equivalent and a recognize preliminary qualification in Shariah such as Certificate in Islamic Law, Islamic Financial Practitioner (IFP), Shariah RFP or equivalent.
- Professional membership such as in Accounting/Actuarial or a recognised Shariah degree is an advantage.
- Should have combination of experience of at least 8 years in regulatory compliance/auditing/investigation/risk management. Experience and familiarity with Takaful business and Shariah consideration is an advantage