Manager, Sharia Compliance & Audit at National Bank of Kenya

Position Summary and Key Responsibilities:

Position Scope:

This position is responsible for ensuring that all the transactions, activities, services and investments within Islamic Banking adhere to Shari’ah principles and guidelines. In addition, he/she will also be responsible for carrying out reviews & audits for assurance and enhance compliance with the set Shari’ah principles and guidelines as per the Bank’s and Shari’ah supervisory Board’s guidelines.

Key Responsibilities:

• Implement the relevant Islamic Banking initiatives in line with the Islamic Banking strategy.
• Review and examine all contracts, agreements, policies and transactions entered in to by the department, both deposit taking and financing (loan) instruments.
• Maintain the calendar, documentation and other relevant documents in line with the role.
• Perform research on Shari’ah aspects for each product before it’s presentation to the Shari’ah Supervisory Board for decision making.
• Carry out periodical audits on all financing instruments done by the division.
• Responsible for addressing Shari’ah related issues from the management, staff and clients to ensure adherence to the Shar’iah Principles and Guidelines.
• Coordination and facilitation between the Bank and Shari’ah Supervisory Board and documentation thereof.
• Facilitate and provide formal and informal training to the Bank’s staff on Islamic Finance.
• Offer guidance to the staff and clients on Islamic financing instruments and related guidelines.
• Identify relevant Shari’ah contracts and ensure compliance pre letter of offer and after disbursement.
• Settle minor Shari’ah disputes/MIS issues that are instrument related between Islamic Banking stakeholders.
• Provide feedback to Management on Islamic Banking market analysis with regards to products, credit risk evaluation and customer feedback among others.
• Support in formulation of Islamic Banking product papers.
• In liaison with other stakeholders, ensure effective identification of risks and mitigations.
• Adhere to Bank Policies, Procedures, guidelines, relevant regulations within the course of duty
• Regularly monitor performing/non performing accounts and provide the relevant support.
• Any other duty that may be assigned.

Position requirements

Qualifications, Experience, Skills & Personal Attributes:

• A University Degree in Islamic Shariah (Jurisprudence)/ Islamic Studies/Business Administration, Economics, Finance, Banking or its equivalent from a recognized institution.
• Professional Qualification in Islamic Shariah (Jurisprudence)/ Islamic Studies is an added advantage
• Professional Qualification in Credit Management is an added advantage
• Three (3) year’s banking experience in a similar role from a reputable organization.
• Knowledge of Auditing and Accounting Organization of Islamic Financial Institutions (AAOIFI) Shari’ah Standards
• Experience and understanding of Audit Strategy Formulation, Risk Based Auditing, Public internal audit, Management Audits requirements
• Risk Management-experience in identifying departmental risks, developing mitigating measures and monitoring mechanisms
• Analytical –highly analytical and ability to challenge status quo based on quantitative facts and impacts
• Independence and objectivity-ability to maintain independence and objective opinion for the benefit of the Bank and not for the benefit of individuals
• Decision making–ability to make decisions in a timely and effective manner and to advise department on major implications and critical decisions required
• Excellent research, analytical, and problem-solving skills.
• Entrepreneurial and Commercial thinking
• Strong persuasion, presentation and communication skills
• Excellent stakeholder management and organisational skills
• Governance – knowledge and ability to ensure good governance practices
• Creative approach, ability to anticipate challenges and provide innovative solutions
• Agility and ability to drive change
• Credit analysis skills and ability to develop credit reports
• Negotiation & Exceptional customer service skills
• Relationship management skills