Director CFCC- Islamic Banking-2200017309

Job Description

Director CFCC, Islamic Banking - (2200017309)Job: CompliancePrimary Location: Africa & Middle East-United Arab EmiratesSchedule: Full-timeEmployee Status: PermanentPosting Date: 14/Jul/2022, 7:16:44 AMUnposting Date: 28/Jul/2022, 10:59:00 PMJob SummaryResponsible, in capacity as Director, Conduct, Financial Crime and Compliance (CFCC) Advisory, Group Islamic Banking (GIB) for supporting the Head, CFCC Advisory, Financial Markets (FM), Africa Middle East (AME) and Head, CFCC Advisory, GIB in managing all regulatory, conduct, financial crime and compliance risks relating to the GIB business and aligning this to the vision and strategy of the function.This role requires a confident and competent individual with working in-depth knowledge and experience of Islamic Banking products and Shariah. Relevant qualifications as essential and Arabic language skills (written and spoken) are highly desirable. The confidence and ability to challenge the First Line Business on CFCC related matters applicable to GIB is an important aspect of this role.The position has first line responsibility for the implementation of Compliance, Conduct and FCC policies and procedures for GIB processes to the extent the processes have been identified as owned by the CFCC function, in line with the Group?s process universe as set out in the Group Operational Risk Framework, including activities within the processes owned by the CFCC function which are hubbed or outsourced (if any).Insofar as they relate to GIB compliance, financial crime and conduct, responsible for providing details of developments giving rise to material risks, regulatory breaches or breaches of risk tolerances. This includes escalating as appropriate to:

• the Head, CFCC Advisory, FM, AME and Head, CFCC Advisory, GIB
• the relevant Heads of Business and stakeholders

Responsibility does not encompass the operation of information technology systems used to implement any policies and procedures, which is the responsibility of the Group Chief Information Officer.Responsibilities

• Helping the Group meet its commitment of being Here for Good by supporting a sustainable framework that places Compliance, Conduct and FCC best practice standards, at the forefront of the Groups agenda.
• Act as an independent second line risk control function, to execute the relevant aspects of the Compliance, Conduct and FCC PRTFs through robust independent risk control and provision of specialist advice and constructive challenge in a manner proportionate to the nature, scale and complexity of the GIB business.
• Conduct evaluation and assessment of the effectiveness of Group?s Conduct, Financial Crime and Compliance commitments and requirements.
• Support and challenge the GIB business and supporting functions, to exhibit appropriate conduct, by complying with regulatory, conduct, financial crime and compliance requirements and strive to achieve fair outcome for clients.
• Maintaining independence, delivering timely responses, and timely escalation of risks and issues where the management tolerance of the firm is exceeded.
• Maintaining constructive and effective stakeholder relationships with the relevant business and supporting functions, including group wide CFCC teams.
• Supporting management of regulatory relationships with all of the Group?s regulators, whose rules the Group is subject to.

Strategy

• Support the vision, strategy, direction and leadership of GIB Compliance in the Group, consistent with the Head, CFCC Advisory, FM, AME and Head, CFCC Advisory, GIB vision and strategy for the CFCC Advisory, GIB function and in support of the Bank?s strategic direction and growth aspirations.
• Support and promote the culture and practice of compliance with CFCC standards (including conducting business within regulatory requirements, and to high ethical standards) within the GIB business and embed a Here for good culture and the Group Code of Conduct.
• Establish and maintain close links with CFCC and Shariah colleagues, leading across region, country, client segment and product, to achieve common platforms and work plans, implementing a One Bank approach to all clients.

Business

• Develop an understanding of the GIB business models and strategy in order to provide oversight support and challenge in order to enable appropriate and sustainable CFCC outcomes.
• Support and maintain an effective and constructive relationship with all key business, CFCC and other functional stakeholders that is based on trust, capability and integrity, providing timely, responsive and quality conduct, financial crime & compliance-related advice and guidance to enable the business and functions to meet/achieve their strategic tactical objectives.
• Provide conduct, financial crime and compliance-related advice, analysis (and challenge when appropriate) in relation to the GIB business, including product design, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), and transactional advice.
• Provide challenge to senior management and all relevant business stakeholders where activities are outside risk tolerance/ appetite, escalating as necessary, until appropriate oversight and ownership is achieved including actions and plans to address any remedial action needed to come back within risk tolerance/ appetite.
• Work closely with the GIB business and its operational teams to provide timely advice to ensure compliance with all relevant laws and regulations and support the transition to pro-active and pre-emptive CFCC risk mitigation.
• Support the establishment and maintenance of risk-based compliance frameworks and a programme for monitoring and assuring compliance that supports the transition to pro-active and pre-emptive compliance and conduct risk mitigation
• Operate in line with the ?leveraged model? used to support Saadiq.

Processes

• Support and maintain effective policies/processes/DOIs (including training, advice and support) to address conduct, financial crime and compliance risks across GIB in the Group, aligning with relevant regulatory requirements.
• Provide governance and oversight over the implementation of CFCC related policies and procedures relevant to the GIB business (to enable compliance with such policies and procedures).
• Provide support and challenge to the GIB business to ensure that they establish and monitor appropriate processes for compliance with CFCC policies, procedures and standards (including meeting regulatory obligations and maintaining high standards of conduct).

People & Talent

• Raise awareness of Islamic Banking and Shariah across the Group.
• Help promote and embed a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.
• Support the stimulation of an environment where forward planning, prioritisation, deadline management and streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.

Risk Management

• In accordance with the Group?s Enterprise Risk Management Framework, act as second line Risk Owner for appropriate and relevant GIB processes.
• Analyse and assess risks arising from GIB related products / segments / geographies / customers / transactions
• Collaborate with Country, Regional and Group CFCC Teams to anticipate horizon risks that may have a significant impact on the Bank and develop effective strategies to mitigate such horizon risks.
• Primary CFCC contact for the approval of new Shariah compliant products. Work with relevant functions, providing oversight and challenge as appropriate.
• Assist in the effective management of CFCC matters, and in collaboration with the rest of the CFCC team, effectively manage regulatory issues that have a significant impact on the Bank including but not limited to conflicts of interest, cross?border and onshore/offshore transactional support and control.
• Collaborate with relevant senior managers to support the programmes for conduct, financial crime and compliance monitoring, surveillance and/or assurance for the GIB business.
• In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased.
• Ensure proactive and timely identification, assessment, advice and dissemination of evolving regulatory changes/practices and associated risks, and proactive engagement in regulatory reform.
• Liaise with the internal audit function to ensure that any CFCC weakness identified by the internal audit function relating to the GIB business are appropriately followed up.
• Provide reports to relevant Country and Business risk and control committees and management group on key conduct, financial crime and compliance risks and issues pertaining to the GIB business.

Keyskills :