Lead, Shariah Risk Management

1 week ago

Kuala Lumpur, Kuala Lumpur, Malaysia Maybank Islamic Full time

This role is responsible for driving, overseeing, and continuously enhancing the Shariah Risk Management (SRM) function across Maybank Group. This role ensures that all business sectors and entities conducting Islamic banking and finance activities effectively identify, measure, monitor, control, and report Shariah risks in full alignment with Bank Negara Malaysia (BNM) requirements, internal policies, and the Group's Shariah governance framework. The incumbent will act as a key advisor to senior management, the Shariah Committee (SC), and the Board on Shariah risk exposure, emerging trends, and critical matters.

1. Shariah Risk Governance & Framework Development

  • Lead the establishment, enhancement, and periodic review of Shariah Risk Management frameworks, policies, procedures, guidelines, and supporting infrastructures to ensure consistent, effective, and Group-wide management of Shariah risks.
  • Ensure frameworks remain current with regulatory changes, industry best practices, and evolving business models.

2. Independent Shariah Risk Oversight

  • Conduct independent assessment, validation, and challenge of risk owners' implementation of SRM-related policies, controls, and guidance.
  • Review and provide objective Shariah risk assessments on new and existing Islamic products, services, systems, operations, and process-change proposals.
  • Strengthen the effectiveness of the Risk and Control Self-Assessment (RCSA) and Key Control Testing (KCT) to ensure robust and proactive Shariah risk mitigation.

3. Monitoring, Analysis & Reporting

  • Monitor and analyze the Group's Islamic banking Shariah risk exposures, including performing stress testing and scenario analyses to identify vulnerabilities and ensure appropriate mitigations.
  • Lead the reporting of Shariah Non-Compliance (SNC) incidents in accordance with internal protocols and BNM requirements, ensuring accurate, timely escalation to Management, the Shariah Committee (SC), and the Board.
  • Oversee implementation and tracking of Key Risk Indicators (KRIs) and Risk Appetite Statement (RAS) metrics related to Shariah Risk.

4. Capital Adequacy & Regulatory Compliance

  • Evaluate the adequacy of capital, controls, and mitigations under both normal and stressed conditions, ensuring alignment with ICAAP, Pillar 3 disclosure standards, Scenario Analysis (SA), and other regulatory expectations.
  • Facilitate regulatory reporting, disclosures, and Shariah-related risk engagements with internal and external stakeholders.

5. Culture Building & Capability Development

  • Champion a strong Shariah risk-aware culture across the Group, promoting ownership, transparency, and continuous improvement.
  • Lead capability-building initiatives for Operational Risk Officers (OROs) and Non-Financial Risk (NFR) practitioners, including coaching, training, and embedding best practices.

6. Advisory & Cross-Functional Collaboration

  • Provide expert guidance on governance, operational processes, and product lifecycle management to ensure Shariah compliance and operational excellence.
  • Partner with business units, risk teams, and Shariah governance functions to drive alignment and foster effective end-to-end Shariah risk management.

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