Senior Shari'a Auditor - Subsidiaries & International Branches

Role : Senior Shari'a Auditor - Subsidiaries & International Branches
Location : Abu Dhabi

Role Purpose:

Responsible for organizing and managing Shari’a audits assignments according to Shari’a audit plans. The responsibilities of Audit Assist Managers include overseeing the process of Shari’a audits, making recommendations on policies, and ensuring that the organization conform with Shari’a rules & principles in order to provide a reasonable assurance to the management that Shari’a risk is mitigated to an acceptable residual level.

Performs complex Shari’a audit assignments in designated areas of the organization to identify, resolve, and/or recommend solutions to assure full compliance with Shari’a resolutions of ADIB’s Internal Shari’a Supervisory Committee of ADIB. May serve as the project leader on standard audits and conduct complex audits independently

Key Accountabilities of the role

Adhere to:

The AAOIFI Standards.

The Institute of Internal Audit Standards e.g. independence, objectivity, proficiency and performance of audit work.

The Internal Shari’a Audit objectives, mission and vision.

Perform the 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.

As Shari’a Auditor of High/Medium/Low risk Shari’a audit assignments or Team Leader of Medium/Low risk Shari’a audit assignments, must assist the Team Leader or line management in preparing a risk-based Shari’a audit plan for the assignments by:

Developing an understanding of activities.

Defining the related areas of Shari’a risks and controls for all the activities/processes subject to Shari’a Audit.

Drafting/revising/updating the Shari’a Audit Program based on Shari’a risk assessment that considers impact and likelihood. Ensure any changes/additions to Shari’a audit programs are discussed and approved by Team Leader.

Compiling and reviewing the Fatwa & Internal Shari’a Supervisory committee resolutions. Also ensure that the resolutions are incorporated in the related Shari’a audit program.

Preparing the checklist which will be used between the Shari’a Team Leader and members.

Assisting and coordinate with the Shari’a IT Project team or IT Division (thru Shari’a IT project team) to develop/improve certain reports required prior to the commencement and/or throughout the Shari’a Audit assignments.

Preparing the Authority letter.

Preparing and conducting a presentation to all concerned Shari’a audit members, Team Leader and line Management discussing the steps that have been implanted/will be implemented during the preparation and field work stages.

Selecting the samples in consultation with Team Leader and according to the approved sampling methodologies.

Preparing the Assignment Planning Memorandum.

Arranging for and completing the working papers/assigned work on timely manner according to Shari’a Compliance management guidelines in this regard. In addition; handing over the working paper to Team Leader on timely manner without delays. Also, by ensuring that working papers reflects the work performed, sample selected and contains Shari’a Audit program and is considered as complete/adequate to support exceptions.

Providing guidance to other Shari’a Auditors in consultation with/as requested by Team Leader.

• Following-up receipt of Client management replies to exceptions as per Shari’a Compliance policy (3 working days) and promptly bringing to the attention of line management any deviation which could result from delaying Shari’a audit process (during fieldwork or draft report).
• Completing the assigned duties within projected time scale and that any variances been properly justified to Team Leader.
• Completing the assignment performance appraisal performed by Team Leader at the end of each Shari’a audit assignment,
• Enhancing decision-making skills.
• By applying risk-based Shari’a Audit methodology; identify critical Shari’a risks, major control weaknesses, process inefficiencies on timely manner and report to the respective Team leader for discussion and opinion.
• Ensure that corrective actions have been taken on all previous Shari’a audit exceptions and that repeated issues are highlighted to the team leader on time.
• Ensure that exceptions are drafted properly/promptly by utilizing the exceptions’ database and discussing the exceptions with Team leader prior to drafting.
• Achieve high standards of behavioral competencies according to the competencies defined by the line management (as per the Assignment Performance Appraisal related to Team Member). Consult with Team Leader on the competencies below standards.
• Keep a constructive working relationship with Shari’a Audit clients in order to achieve the overall objectives.
• Maintain excellent teamwork environment and team spirit.
• Achieve very good knowledge of ADIB processes, policy & procedures and AAOIFI/IIA standards.
• Understand/improve working knowledge on all automated Shari’a auditing tools.
• Maintain very good efficient and professional oral and written communication skills
• Whenever requested, participate in special reviews (related to Shari’a). During the special review, assist in determining the circumstances which enabled such situations, identify responsibility for any losses or failures to comply with Shari’a policy & procedure and provide recommendations for Team Leader/line management review.
• In coordination with Team Leader, train new/existing staff on Shari’a related issues and Shari’a Audit Approach.
• Whenever requested by Team Leader, review new and/or changes to bank’s policies and procedures (related to Shari’a) in order to evaluate the Shari’a control adequacy and related risk mitigation.
• Ensure that paper-based working papers and other Shari’a audit documents are adequately protected and secured throughout the assignment.
• Comply with any additional tasks which could be assigned by the Team Leader/line management.

Specialist Skills / Technical Knowledge Required for this role:

• Bachelor in Sharia or Islamic Economics or Islamic Banking.
• CISSA and CIPA certifications (or alternative certifications).
• A fellowship certificate in internal Shari’a Audit (option)
• Arabic & English language
• IT skills

Previous experience:

5 to 8 years’ experience.