Director, Shariah Risk Management

Job Purpose

Drive and manage robust and consistent strategy and implementation of Shariah Risk Management (SRM) through application and preservation of Policy & Procedures (P&P) to ensure Shariah Non Compliance (SNC) risks undertaken at Group level are within the objectives and approved risk appetites of the Group.

Key Responsibilities

1. 1) As a second line of defense function that facilitates the first line of defense, i.e., Business Units (BUs) and Business Enablers (BEs) in managing SNC risks inherent in their operations and activities by:
2. a) Establishing SRM Policies and Procedures to govern Shahriah Risk Management commensurate with the size, complexity and nature of CIMB Group’s business.
3. b) Overseeing and providing constructive challenge to the first line of defense in their execution of SRM Policies and Procedures.
4. c) Providing training to enhance level of awareness on SRM.
5. d) Establishing initiatives to strengthen SRM and Shariah compliance at BU and BE level.
6. e) Preparing reports on Shariah Non-Compliance and Islamic Banking/Shariah Risk Management to senior management and Board
7. f) Providing SRM expertise on a consultative basis to CIMB Group.

• 2) This person shall be responsible to report and advise Senior Management and Risk Committees on Islamic Banking/SNC Risks and Shariah Risk Management.
• 3) The person is also responsible to play a primary role in engaging the regulators and industry players on matters related to SRM.

• 4) To keep abreast of market and regulatory requirements related to SNC risk management.

Job Specification

1. 1. Qualification: Certified Islamic Finance Professional, Master/MBA in Islamic Finance or Degree in Shariah/Islamic Finance/Islamic Law will be preferred.
2. 2. Minimum of 10 years work experience in Islamic Finance or banking with exposure in risk management in Islamic financial institution (IFI). Relevant first line experience in Islamic banking operations, Islamic Treasury and Wholesale and/or auditing of Islamic Financial Institutions will be an advantage.
3. 3. Strong interpersonal skills.
4. 4. Excellent oral and written communication skills in English.
5. 5. Demonstrated managerial, leadership and facilitation skills.
6. 6. Credible advisor – very strong knowledge in Shariah Risk Management, and Islamic banking operations, products and processes
7. 7. Collaborative partner – ability to communicate effectively, clearly and concisely at all levels (both internally and externally).
8. 8. Good presentation skills.