Sharia Auditor - Retail Banking

Role: Sharia Auditor - Retail Banking

Location: Abu Dhabi

Role Purpose:

Assess the continuity and conformity level of Shari'a rules & principles throughout the Internal Shari'a Audit assignments in order to provide a reasonable assurance to the management that Shari'a risk is mitigated to an acceptable residual level.

Key Accountabilities of the role:

1. Adhere to:
2. The AAOIFI Standards.
3. The CBUAE HSA Resolutions.
4. ADIB- ISSC Resolutions.
5. The Institute of Internal Audit Standards e.g., independence, objectivity, proficiency and performance of audit work.
6. The Internal Shari'a Audit objectives, mission and vision.
7. Perform the internal Shari'a audit assignments/assigned duties efficiently and effectively based on the risk-based Shari'a Audit approach sketched by the line Management and in consultation with Team Leader.
8. As Shari'a Auditor, the main responsibilities are as follows:
9. Visiting departments/units subject to Shari'a Audit (Preliminary Survey) based on: Familiarization, Identification of potential areas of improvement, Confirmation, Planning the detailed audit.
10. Compile, review and summarize Higher Shari'a Authority CBUAE HAS's and ADIB Internal Shari'a Supervisory Committee (ISSC) resolutions.
11. Review of Policy and Procedures related to processes/products.
12. Develop/review the Shari'a Audit Program and identify/define areas of Shari'a Non-Compliance Risks.
13. Identify and evaluate the Shari'a Non-Compliance (SNC) Risks.
14. List of Shari'a Audit requirements/reports.
15. Risk Assessment for Finance Products (Assets) only.
16. Sampling methodology (Extensive Testing, Moderate Testing, Standard Testing).
17. Prepare Authority Letter.
18. Conducting opening meeting and presentation to the respective management/s.
19. Formation the Shari'a audit assignments teams (team leader and members).
20. Use the Shari'a Risk and Control Analysis to determine the Shari'a Audit Approach.
21. Sampling methodology (Defining the Population, Number of locations, Shari'a Control changes, Setting the Sample Size, Document the Tests to be performed).
22. Review and audit the selected sample.
23. Findings/Exceptions Sheets.
24. Preparation of Shari'a Audit reports.
25. Shari'a control environment Rating.
26. Shari'a control rating.
27. Exceptions/Findings database.
28. Exit meeting.
29. Follow-Up on matters reported by Shari'a audit.
30. Preparation of (ISSC) escalation Shari'a Audit reports.
31. Shari'a Audit Process Questionnaire (SAPQ).
32. Drafting Shari'a guidelines.
33. Comply with any additional tasks which could be assigned by the Team Leader/line management.

Specialist Skills / Technical Knowledge, Technical Competencies Required for this role:

1. Bachelor in Sharia or Islamic Economics or Islamic Banking.
2. CISSA and CIPA certifications (or alternative certifications).
3. Arabic & English language.
4. IT skills.
5. 5 years experience.