Manager - Deal Structuring & Documentation
Job Purpose:
Advise on Shari’ah compliance of Structures and Facility Documents of Islamic deals including Sukuk considering applicable Higher Shariah Authority UAE – CB regulations, AAOIFI Shariah standards, ISSC guidelines and Supervisor’s instructions.
Key Result Areas:
Deals & Sukuk
- Advise the most appropriate Shari’ah structure for a given transaction, considering the overall dynamics of the deal, considering applicable Higher Shari’ah Authority UAE – CB regulations, AAOIFI Shari’ah standards, ISSC guidelines and Supervisor’s instructions.
- Support and liaise with internal & external legal counsels during drafting of facility documents for accurate articulation of Shari’ah Compliance concerns in different relevant clauses.
- Support and liaise with counterparts in other Islamic Banks in syndications and club deals to mutually resolve all points of disagreement till a final draft can be developed.
- Perform the above listed activities for all the bespoke/customized bilateral transaction, syndications and DCM market as well (Sukuk) generated across the bank.
- Assist Line Manager in presentations to the ISSC for procuring necessary approvals on the recommended solutions and documentation suite.
- Approach Executive Member or ISSC to present concepts and documents, procure the required approvals and respond to ISSC’s queries as and when required.
- Exhibit strong command on the local and regional regulations pertaining to Islamic Banking and ensure compliance of regulations in day-to-day work.
Standard Products
- Provide Shari’ah advisory on new Islamic products on recommendation of product team and business units from CIBG, IBG, & TCM
- Review and obtain approval of product contracts/ documents related to Islamic products.
- Ensure business/ product queries on day-to-day banking activities related to Shari’ah 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 Shari’ah compliance requirements.
- Conduct document & SOP mapping related to Shari’ah sensitivities for each Shari’ah contract and provide the list of possible action items.
- Review of Digital Journey screens for each product from Shari’ah 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 each product (liability and asset side) and guide the process from Shari'ah perspective
- E Learning maintenance & refresh as required
Training
- Wholesale related training in the annual training plan
- Training for new product launches
Operating Environment, Framework and Boundaries, Working Relationships:
Treasury/ Wholesale /Retail relationship teams
Investment Banking
Internal & External Legal.
Counterparts in other Islamic Financial Institutions
Bank policies
AAOIFI Shariah Standards and ISSC guidelines
Problem Solving:
Efficiently complete assigned tasks without compromising on Shariah Compliance
Come up with innovative out of the box solutions without compromising on Shariah Compliance
Decision Making Authority & Responsibility:
Shariah Approval authority as delegated by the Head Islamic Finance: Advisory & Shari’ah Controls/ISSC
Knowledge, Skills and Experience:
Bachelors degree/Professional qualification in commerce/business/banking.
Certification/Qualification in Islamic Banking preferably AAOIFI’s certifications
Significant exposure to Shari’ah 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.
Minimum Ten years’ experience with seven years relevant experience of Islamic Financial sector (FIs, Accounting & Auditing Firms)