KEY RESPONSIBILITIES:
Regulations Management
- Review business / support units feedback during gap analysis (GA) for new/revised regulations that impact both conventional and Islamic banking.
- Distribute and share information related to Islamic / Takaful / Shariah principles from regulators and other resources by conducting study/information sharing session or disseminating it to the respective business / support units.
- Maintain good working knowledge of industry trends, products, relevant laws and regulations in regards to information security/cybersecurity.
Regulatory Advisory for New Initiatives/Products/Services/Projects
- Provide compliance advisory including shariah concept / rules to assist business unit/support unit to manage their shariah risk and to ensure adherence to regulatory requirements.
- Provide independent Group Compliance Review on the business / support units Compliance Risk self- assessment in their introduction of new or variation of products /services new system implementation or system enhancement and process enhancement.
- Review publication and communication materials particularly those with shariah impact.
- Continuous engagement with business unit/support unit.
Regulatory Breach Management
- Highlight potential shariah compliance concerns in view of the latest Shariah related regulations and rules in the industry.
- Review and challenge the adequacy of corrective / action plans by the business / support units to avoid recurrence of SNC / other breaches.
Regulatory Relationship
- Liaison party between the Bank and the regulators, government bodies and relevant associations.
Other Ancillary Functions
- Attend to any ad-hoc compliance advisory matters assigned by the Group Chief Compliance Officer, Head Group Regulatory Advisory.
EXPERIENCE/KNOWLEDGE REQUIRED:
Skills
- Sound knowledge of compliance and regulatory matters.
- Strong leadership and strategic thinking.
- Ability to influence and work collaboratively with colleagues across Group Compliance, Group Risk, Group Internal Audit, Shariah Advisory and other respective business unit/support unit.
- Good analytical thinking and problem solving skills.
- Good writing and communication skills.
- Good interpersonal skills.
- Able to lead and motivate the team under supervision.
- Proactive and able to work independently as well as in a team.
Knowledge
- Professional qualification or Degree in Banking & Finance, Business Administration, Law or other relevant discipline.
- Certified Shariah Advisor or other Professional qualification in Shariah Advisory or equivalent Degree in Islamic Finance, Islamic Law or other relevant discipline.
- Certification by Asian Institute of Chartered Banker (AICB) is an added advantage.
Experience
- At least 10 years of working experience in a financial institution and/or Islamic financial institution.
- Experience in compliance, risk management or internal audit function is an added advantage.
- Experience in capital market/commercial/Islamic and/or banking operations and products
- Experience in handling shariah matters from advisory to review process including Shariah Non Compliance Event
