AVP Standard Products & Training

Job Purpose:

To assist in reviewing and providing Shariah Advisory for new and existing Islamic products in Corporate Retail Treasury and Subsidiaries and for new projects along with Shariah training function for the bank as and when required by the Supervisor.

Key Result Areas:

Advisory: Standard Products

Assist the supervisor to:

• Provide Shariah advisory on new Islamic products on recommendation of product team and business units from CIBG IBG RBG TCM and subsidiaries.

• Provide Shariah advisory on existing Islamic products and work closely with CIBG IBG RBG TCM and subsidiaries for maintenance of Islamic products.

• Review and obtain approval of product contracts/ documents related to Islamic products.

• Review and obtain approvals on concept papers product guides PPGs policies Fatwas SOPs and manuals etc.

• Review and obtain approvals on BRDs and FSDs

• Ensure business/ product queries on day-to-day banking activities related to Shariah matters are timely addressed.

• Coordinate with business/ product and Legal team for preparation of legal documents or amendments to the existing documents in light of the Shariah compliance requirements.

• Submit Shariah cases to Executive Member of ISSC to seek guidance and obtain Shariah approvals

• Conduct document & SOP mapping related to Shariah sensitivities for each Shariah contract and provide the list of possible action items.

• Ensure that Shariah sensitivities related to Islamic products are duly captured in the SOPs product guides and standard product documents.

• Review Digital Journey screens of products services digital channels and other customer-facing banking processes / digital banking initiativesfrom Shariah perspective and to ensure implementation of related guidelines issued by the Internal Shariah Supervision Committee.

• Work closely with Business and IT teams for the development of Digital Journey screens related to product (liability and asset side) and guide the process from Shariah perspective.

• Ensuring the process / timings of Legal documents and transactional level contracts execution for each product via Digital Journey Screens.

• Compile and send responses to clients on portal after getting its draft approved from line manager.

• Obtain approvals on marketing/ promotional material etc.

• Ensure that all active Islamic products documents are kept updated and required changes are approved by the relevant approving authority.

• Assist Line Manager in engaging with cross-functional departments to support closure of Shariah-related Audit open items.

• Join project based cross-functional teams and/ or working committees to get Shariah requirements fulfilled.

• Respond to internal stakeholders for their queries/ requests related to Shariah compliance.

Mashreq Capital & Securities:

• Provide Shariah Advisory to Mashreq Capital and Mashreq Securities and may respond to their day to day banking queries/requests related to Shariah compliance.

• Assist in coordination with Shariah Supervisory Board members of Mashreq Capital in arranging necessary approvals related to Sukuk Funds equities legal agreements SSB Annual reports SSB Agreement/contract Zakah calculation and Charity disbursement etc.

Mashreq Bank Pakistan (MBP):

• Review of policies frameworks SOPs for Mashreq Bank Pakistan (MBP).

• Arrange Unit Manager & Head IFASCs approvals as per internal delegation matrix to ensure Shariah Governance from a Mashreq Group perspective.

Shariah Training:

Assist the supervisor to:

• Establish knowledge base in Mashreq through developing effective and appropriate technology enabled learning and development training courses and material which comply with the CBUAE Shariah Governance AAOIFI Shariah Standards and the Internal Shariah Supervisory Committee (ISSC).

• Design and deliver training courses which are tailor made to different roles and functions in the first second and third lines of defense.

• Conduct sessions post new product launches to make staff familiar with the Shariah sensitivities in the process and documentation.

• Conduct refresher training on Islamic banking and products upon request from business.

• Prepare knowledge nuggets and manage their bank-wide recurring circulation.

• Periodically report the progress to the ISSC on the training calendar.

• Work closely with MLS to develop new e-learning courses for various groups across the bank as per the approved training calendar.

Operating Environment Framework and Boundaries Working Relationships:

• Product Managers across the Bank

• Islamic Business Teams

• MLS Training Head

• Bank-wide interaction as and when needed

• Consultation with business and product teams

• Detailed internal discussions

• Detailed discussions with other teams as and when needed

• Bank policies AAOIFI and SSBs guidelines

Problem Solving:

Efficiently complete assigned tasks without compromising Shariah Compliance

Decision Making Authority & Responsibility:

Approve to the extent of delegation

Knowledge Skills and Experience:

• Graduation in business/banking or Professional qualification in Finance

• Certification/qualification in Islamic Banking

• Significant exposure to Shariah principles via studies courses or extensive on the job learning

• Extraordinary attention to detail is required

• Strong communication skills: as Bank wide interaction on technical issues is required

• Command on MS office

• 6-7 years experience of Islamic Banking in Product Development Shariah Advisory and/ or Shariah Compliance Department

• Arabic language capability will be a plus