Job Description

Shariah Risk Management refers to a function that systematically identifies, measures, monitors and reports Shariah Non-Compliance risks in the operations, business, affairs and activities of the Takaful Operations. It is a part of the effective integration of control functions under Shariah governance and oversight arrangement of the risk management, compliance and internal audit at the entity-level and group-level. Develop a comprehensive and integrated approach to enterprise-wide risk management, which integrates risks arising from Shariah non-compliances alongside other risks such as credit, market, operational and liquidity. To assist and execute the shariah reporting governance. Assist in report preparation. Coordinate with stakeholders. To assists and execute the identification of Shariah non-compliance risk exposures in the business operations. Participate in Business Challenge/Engagement for RCSA. Challenge on risk control/mitigation effectiveness. Assist in report preparation. To assist and execute the assessment of Shariah non-compliance and measure the potential impact. Analyse operational incidents report/IMDC. Follow through and monitor the end-to-end PSNC/ASNC reporting. To constantly reminds/alert stakeholder on the regulatory implication of delay in reporting. To maintain tracking report of PSNC/ASNC. To assist and execute the Integrate Shariah non-compliance risk considerations with enterprise-wide risk management. Perform data analysis and compilation and coordinates the cross functional / transversal within the risk functions. Periodically updates operations (BAU) and strategic initiative report. To assist and execute in developing Shariah Risk governance policies documents. Perform annual/ad hoc review on internal processes on Shariah Risk operations. Assist in developing internal Shariah Risk operational frameworks/ policies and standard operating procedures. Engaged with relevant stakeholders/inter-dependency. To assist in PSNC/ASNC deliberation with stakeholders. Assists in coordinating discussion on matters concerning PSNC/ASNC deliberation. Analyze IMDC, QSO review and audit report. To assist in Shariah non-compliance risk exposure and assists for the preparation of risk report. To analyze the SNS risk on business acceptance. Compilation and preparation of report. Engage with stakeholders / inter-dependency. To assist in Strategic Initiatives deliverables. Participate in the strategic initiative for SRM. To ensure and execute the PSNC / ASNC reporting is within the stipulated regulatory requirement. Report tracking of reported PSNC and ASNC. To provide support on Shariah Risk Training. Preparation of training materials and coordination. Any other tasks as assigned. Assist in task/assignments as assigned. Job Requirements Degree/Bachelor of Islamic Finance/Business Management and/or Degree/Bachelor in Takaful/Insurance, ACII/FCII/AMII/FMII or Degree/Bachelor in Usul Figh/Islamic Finance/Actuarial 1-5years takaful underwriting/operations and/or 3 years in Shariah control functions/Risk Management. Understand the \'Maqasiq Shariah principles, shariah policy standards and prohibited elements of shariah non-compliance (SNC). Basic knowledge in takaful risk, operating models and policy standards as required by regulatory. Takaful Product assessment. Understands Risk Management process and Shariah risk profiling. Process improvement driven. Reporting timeline requirement of PSNC & ASNC by regulatory. Be sensitive of areas concerning SNC Certificates in Shariah & Takaful practioners (CSTP), UIA Optional Certification, Islamic Banking & Finance Institute (IBFIM), International Centre for Education in Islamic Finance (INCEIF) *Only shortlisted candidates will be contacted.

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