Principal, Matrix (Islamic Credit Oversight)

Job Summary

Provide Directors with cross-functional matrix support across sectors in legal review, policy development, authorisation, surveillance and supervision, and Shariah compliance to enable the effective execution of SKP's regulatory and supervisory functions, safeguard consumer interests, uphold market integrity, and strengthen confidence in the consumer credit industry.

Job Description

Islamic Credit Oversight

• Coordinate formulation and periodic review of authorisation and conduct-related policies for Islamic credit businesses, including Shariah governance requirements, to ensure compliance with regulatory standards and alignment with industry best practices.
• Manage implementation of regulatory frameworks and provide operational guidance to ensure ongoing Shariah compliance, consumer protection, and fair market practices across Islamic credit and related businesses.
• Support authorisation, supervision, and enforcement functions by reviewing Islamic credit-related policies, monitoring compliance, and assisting in developing remediation strategies for Shariah non-compliance.
• Facilitate engagement with industry players and relevant authorities, including coordinating interactions with the Shariah Advisory Council of Bank Negara Malaysia and Shariah Advisory Council of the Securities Commission of Malaysia, and ensure timely integration of Shariah rulings into consumer credit frameworks.
• Monitor emerging issues and global trends in Islamic finance conduct regulation to recommend enhancements that maintain relevance and effectiveness of regulatory frameworks.

Legal Review and Policy Development

• Support the development and review of consumer credit policies and regulatory frameworks, incorporating market insights, supervisory findings, and risk considerations to ensure relevance, consistency, and responsiveness to evolving industry practices.
• Provide input on the interpretation and application of laws, regulations, standards, and guidelines, ensuring clarity, consistency, and effective implementation across sectors.

Authorisation

• Support the management and oversight of licence and registration applications, ensuring adherence to regulatory and authorisation criteria.
• Coordinate due diligence and compliance assessments and provide guidance on regulatory requirements, ensuring consistency and quality of application evaluations.

Surveillance and Supervision

• Support surveillance and supervision of regulated entities, including risk monitoring and assessment to identify areas requiring supervisory attention and intervention.
• Analyse data from regulatory submissions and relevant sources to identify risks and recommend appropriate supervisory or corrective actions to strengthen compliance and consumer protection.

Reporting, Coordination and Advisory

• Coordinate with Sector Heads to promote alignment and consistency in regulatory approaches, supervision practices, and stakeholder engagements across sectors.
• Provide insights and recommendations to Directors on regulatory risks and considerations to support informed and consistent decision-making.
• Lead or contribute to cross-functional initiatives to support effective implementation of regulatory frameworks and process improvements.
• Prepare reports on key activities and outcomes, highlighting trends, risks, and issues to support management oversight and decision-making.

Operational Excellence & Learning

• Proactively participate in process improvement initiatives and take advantage of learning and development opportunities to enhance operational efficiency, ensure compliance, and strengthen personal and team capabilities.
• Contribute to knowledge sharing and capability development and undertake ad hoc assignments to support organisational priorities and the achievement of SKP's objectives.

Job Requirements

• Minimum 7 years of experience in Islamic finance regulation and policy development within a regulatory authority, financial services sector, or government-linked organisation.
• Bachelor's degree in Shariah (Islamic Banking and Economics), Accounting, Finance, Economics, Law, or related field.
• Experience in stakeholder engagement with government agencies, industry associations, and consumer advocacy groups.
• In-depth understanding of Islamic finance principles, Shariah governance framework, credit products and consumer credit framework.
• Exhibits strategic and analytical thinking, with ability to engage stakeholder engagement, uphold ethical integrity, adaptability, collaborative, and solid business and digital acumen.