Job Purpose
To lead Shariah Governance Assurance and coordination functions in line with BNM's SGPD, ensuring robust Shariah internal controls and continuous monitoring to safeguard Shariah compliance across the Company.
Job Responsibilities
To manage the execution of Shariah Governance functions as prescribed by the Shariah Governance Policy Document of BNM as follows:
(i) Shariah Governance Assurance which shall include the following:
- Plan the Shariah Governance Assurance activities which include the objectives, scope, reporting, rectification, and follow-up actions
- Evaluate control effectiveness of the Shariah risk mitigation measures i.e systematically identifies, measures, monitors and reports Shariah non-compliance risks in the operations, business, affairs and activities of the company.
- Monitor the compliance level of the Company's business operations and activities with the Shariah rules and principles e.g regular Shariah assessment on the status and appropriateness of implementation of recommended measures/controls by Business Unit.
(ii) Shariah Governance Coordinator to establish a sound and robust Shariah governance via implementation and maintenance of effective internal controls (Detective-Preventive-Corrective) as well as continues monitoring:
- Develop relevant company's policy / manual / standard of procedure in relation to Shariah matters.
- Engage the Business Unit, Compliance Department and Risk Management Department to implement any Regulatory Guidelines which details all the Shariah compliance requirements of the Company
Job Requirements
- Bachelors Degree in Shariah, Shariah Law or related
- Obtained CIFP or CSA
- Minimum 3 years of relevant experience in Shariah governance, Shariah review, Shariah risk, or Shariah audit within an Islamic Financial Institution (IFI) such as a takaful operator, Islamic bank, or retakaful operator.
- Experience in Shariah governance functions, including Shariah review, Shariah audit, or Shariah risk management within an IFI environment.
- Demonstrated exposure to regulatory implementation, particularly in translating regulatory requirements such as BNM Shariah Governance Policy Document (SGPD) and IFSA-related requirements into operational SOPs, internal controls, checklists, and reporting frameworks.
- Experience in performing assurance work, including planning and conducting reviews, testing controls and supporting evidence, preparing review or audit reports, and monitoring rectification or closure of issues with relevant business owners.
- Ability to coordinate across multiple functions, including Business Units, Compliance, Risk Management, and Internal Audit, with experience in issue escalation, follow-up, and stakeholder engagement.
- Preferred experience of 57 years, with the ability to independently lead assurance or review plans, present findings to management or the Shariah Committee, and drive remediation actions.
- Senior or lead-level candidates (810+ years) should demonstrate experience in developing Shariah governance frameworks, mentoring review teams, leading regulatory change implementation, and managing complex Shariah Non-Compliance (SNC) cases.
