Job Description

Company Description

At

RAKBANK

, we believe in fostering a culture of innovation, growth, and excellence. We are not just a bank - we are a community that thrives on teamwork, cutting-edge solutions, and the highest standards of governance.

Conduct Internal Shari'ah Audits across Islamic banking units to ensure compliance with Shari'ah principles and regulatory standards. Perform risk-based Shari'ah audits, assess governance frameworks, and identify areas for improvement. Work closely with stakeholders to enhance controls, mitigate Shari'ah non-compliance risks, and support continuous improvements in audit processes.

Functional Responsibilities:

Assist in executing the Annual Shari'ah Audit Plan, identifying high-risk areas for audit. Conduct Shari'ah audits using risk-based methodologies and data analytics. Plan and document audit engagements, including risk assessments, audit planning memos, and terms of reference. Perform detailed walk-throughs of business processes to identify control gaps, process weaknesses, and non-compliance risks. Assess the effectiveness of Shari'ah governance frameworks and document key findings. Execute audit fieldwork in accordance with internal methodologies, ensuring high-quality documentation. Analyze and detect Shari'ah non-compliance risks, track errors, and propose corrective measures. Evaluate the design and effectiveness of controls, challenging weaknesses and identifying improvements. Research and anticipate emerging Shari'ah compliance risks, conducting root cause analysis and developing actionable recommendations. Ensure Shari'ah audit reports align with AAOIFI standards, ISSC guidelines, HSA-CUAE regulations, and Islamic banking principles. Engage with stakeholders to monitor changes in business practices and update risk assessments. Discuss and finalize audit findings and recommendations with business units. Follow up on audit recommendations to ensure timely closure of Shari'ah non-compliance issues. Contribute to the enhancement of Shari'ah audit methodologies and processes.

Core Responsibilities:

Ensure Shari'ah compliance within Islamic banking operations by identifying and mitigating risks. Provide independent assurance on the effectiveness of Shari'ah controls and risk management. Ensure alignment with AAOIFI standards, ISSC guidelines, HSA-CUAE regulations, and Shari'ah principles. Collaborate with internal teams to drive continuous improvement in Shari'ah governance. Support the monitoring and validation of audit recommendations and regulatory remediation actions. Stay updated with Islamic banking regulations and industry best practices.

Qualifications

Bachelor's or Master's degree in Islamic Finance, Accounting, Auditing, or a related field. Certifications such as Certified Shari'ah Advisor & Auditor (CSAA) or Certified Islamic Professional Accountant (CIPA) preferred. 3-7 years of experience in Shari'ah audit, compliance, or Islamic banking. Strong knowledge of AAOIFI Shari'ah Standards, ISSC, HSA-CUAE regulations, and Islamic banking frameworks. Proficiency in audit methodologies, risk assessment, and data analytics. Strong analytical, problem-solving, and report-writing skills. Excellent communication and stakeholder management abilities. * Ability to work independently and collaboratively within tight deadlines.