Assistant Manager, Shariah

Job description

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Representing the largest global Islamic financial services team of any international bank, HSBC Amanah provides a full suite of innovative Islamic products and services to retail and corporate customers around the world. Complementing HSBC's comprehensive range of global banking and financing solutions, HSBC Amanah leverages the Group's international experience and expertise in Islamic finance to best serve the growing demand for this viable alternative to conventional financing in Malaysia.

We are currently seeking an ambitious individual to join our HSBC Amanah team in the role of Assistant Manager Shariah , working together with colleagues to define, manage and achieve divisional business targets.

The Assistant Manager, Shariah Review, is the executive accountable and responsible to the Senior Shariah Manager (Shariah Review) to support the Shariah department's Shariah Review function and execute its duties to the satisfaction of the requirements in Principle 7 (i) of BNM Shariah Governance Framework; as well as related Shariah Risk Stewardship responsibilities under the Operational Risk Management Framework, in HBMS as well as across other 100% owned HSBC entities in MYH that are regulated by BNM or by the Securities Commission.

The jobholder is expected to assist in transforming the Shariah Review team's activities to meet Shariah Risk Stewardship responsibilities for regular assessment of Shariah compliance in the business, operation, affairs and activities carried out by the First Line of Defence. In addition, being the team member of Shariah review, the jobholder is also expected to organize and manage the Shariah Review Plan including the team's engagement with the relevant parties, assessment on the staff knowledge and banking operations and provides report accordingly. The jobholder will be reporting to the Senior Shariah Manager who is the designated Shariah Review team leader. The jobholder has also a proactive role in supporting the Senior Shariah Manager, in participating the Bank's Strategic Priorities and ad hoc initiatives by providing thought leadership as Subject Matter Expert in Islamic Banking and Shariah Compliance – a critical success factor for the Bank.


Principal Responsibilities
· Support the Senior Shariah Manager (Shariah Review) on the execution of relevant Shariah Risk Stewardship responsibilities in line with Shariah Governance Framework and other regulatory requirements and Group policies.
· Provide subject matter thought leadership on wider risk impact of review findings remediation of breaches.
· Support the Senior Shariah Manager (Shariah Review) to conduct and issue regular assessment reports on Shariah compliance in the business, operation, affairs and activities carried out by the First Line of Defence (Risk Owners, Control Owners and BRCMs) on the following:-

- Management of Shariah non-compliance risk by Risk Owners, in areas such as Products, Distribution Channels and Implementation of Policy Documents;

- Controls for Shariah non-compliance risk by Control Owners;

- Monitoring of Controls for Shariah non-compliance risk by BRCMs.

· Support the Senior Shariah Manager (Shariah Review) in providing sound remedial measures and monitor their implementation to resolve non compliances and strengthen control mechanism to avoid recurrences.
· Support the Senior Shariah Manager (Shariah Review) to seek advice and input from experts of other relevant fields on technical matters to ensure comprehensive understanding of relevant concepts and approaches, when conducting Shariah review.
· To assist and support the Senior Shariah Manager (Shariah Review) in completing assignments for HBMS and other Shariah functions as being assigned by the Senior Shariah Manager (Shariah Review).
· Proactively support HBMS' strategy and objectives within the entity from Shariah review and Islamic banking aspects.
· Represent HSBC in matters relating to the role holder's areas of responsibility with regulators, clients and other third parties, as delegated by Senior Shariah Manager (Shariah Review).
· Represent the entity across the Country and also the wider HSBC Group, as delegated by Senior Shariah Manager (Shariah Review).
· Protect the HSBC brand in the entity by challenging behavior that may expose the brand to regulatory, consumer or media criticism.
· Accountable at Shariah Committee (a governance forum) to enable the SC to discharge its duties with regards to Shariah review and oversight on Shariah Controls in the Bank.
· Reporting of potential Shariah Non-Compliance event identified during the review exercises to the Shariah Committee.
· To engage with different line of business/function during the Shariah review exercise in ensuring that a proper and ‘end-to-end' monitoring is being carried out and that the objectives of Shariah review are achieved.
· Representation at forums through practical implementation of initiatives.
· Regular engagements with regulators and industry forums – proactively addressing regulatory developments.
· To assist in supporting the Senior Shariah Manager (Shariah Review) to transform the Shariah Governance at Shariah Review function into Shariah Risk Stewardship standards in line with HBMS Risk Management Framework and other Group policies.
· Assisting the Senior Shariah Manager (Shariah Review) on the execution and deliverables, and assist by working with Global Business, Global Function and HOST stakeholders to resolve any issues identified.
· Support the effective mobilisation, resourcing, governance and delivery of execution strategy and implementation plans.
· Communicate with internal and external parties on matters affecting the decisions, rulings and opinion within the framework of HBMS Shariah compliance.

Desired profile

Qualifications :

Requirements:

As Shariah Risk Stewardship role in Malaysia, the role covers the following scope:

·  Entities: HBMY, HBMS, LBU, Asset Management in Malaysia
·  Islamic Banking Revenue: USD 230mil p.a.
· 
Regulations: 15 regulatory Shariah Standards, over 200 regulatory Shariah resolutions issued by BNM, as well as 6 regulatory standards issued by SC.

· 
Geographical spread: 26 HBMS branches, 42 HBMY branches, 20 commercial banking centers

·  Total HBMS Products: 60+ (balance sheet of MYR 20.3B)
·  Minimum degree in Shariah or its equivalent
·  Minimum 2 years experience preferably in Shariah
·  Excellent communication and interpersonal skills
·  A team player who is self-motivated and results-oriented
·  Only Malaysian citizens are encouraged to apply







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Issued by HSBC Bank Malaysia Berhad.