Job Description

Job : Institutional Banking
Primary Location : Asia-Malaysia-Kuala Lumpur
Schedule : Full-time
Employee Status : Permanent
Posting Date : 25/Jan/2023, 5:37:24 AM
Unposting Date : Ongoing


RESPONSIBILITIES

• Responsible for managing the Shariah function in Brunei and assisting in South East Asia (SEA) coverage, ensuring the highest standards of Shariah guidance is provided.
• Work with Head Shariah Department Malaysia and SEA and Head, CFCC, Brunei in driving the Shariah agenda.
• Work in line of the vision of the Head Shariah Department Malaysia and SEA and Head, CFCC Brunei, to assist in driving business growth in a controlled and Shariah compliant manner.
• Provide Shariah guidance to the Brunei and SEA Islamic banking business including advice on new products, non-standard transactions, documentation, charitable donations and recruitment of Shariah staff and board members.
• Conduct Shariah Review of Brunei Islamic Business to ensure key areas of risk are reviewed, weaknesses identified, and remediation plans are implemented accordingly.
• Manage affairs related to Shariah Supervisory Boards in Brunei and SEA including organizing Shariah Board meetings, liaising with Shariah Board members to obtain approvals on various submissions, prepare Shariah Board minutes and ensure timely payment of dues of Shariah Board members.
• Provide challenge and oversight to ensure weaknesses and actual/ potential Shariah non-compliance risks (SNCR) are identified and remediated as necessary (where applicable).
• Provide Shariah Advisory to Islamic banking businesses in strategy development process.
• Interact with Industry bodies on acceptable Shariah compliant solutions and standards.
• Conduct Shariah research on new structures with a view to implement them in practice (where applicable).
• Where necessary meet clients to understand the needs of the client and advise on structuring solutions.
• Where necessary meet Shariah Board members of other Islamic Financial Institutions to understand their view points and reach consensus on structuring issues.
• Help the Group meet its commitment of being \xe2\x80\x9cHere for Good\xe2\x80\x9d by building a sustainable Shariah framework that places best practice standards, and a culture of appropriate conduct at the forefront of the Group\xe2\x80\x99s agenda.
• Execute the relevant aspects of the Shariah framework through robust independent risk control and the provision of specialist advice and constructive challenge in a manner proportionate to the nature, scale and complexity of the Group\xe2\x80\x99s business.
• Proactively support and challenge the businesses and functions to exhibit appropriate conduct, comply with regulatory and Shariah requirements and strive to achieve fair outcome for the bank\xe2\x80\x99s clients.
• Evaluate the effectiveness of the banks Shariah efforts.
• Support the management of the regulatory relationships with each of the regulators, whose rules the Group is subject to.
• Maintain constructive and effective relationships with the relevant Business Heads, Chief Operating Officers (\xe2\x80\x9cCOOs\xe2\x80\x9d), and other functional stakeholders.
• Insofar as they relate to Shariah, provide details of developments giving rise to a material risk that serious breaches or breaches of Shariah risk tolerances (as agreed by the Shariah Board/Committee from time to time) may occur and notifying any such breaches to Head Shariah Department Malaysia and SEA and Head, CFCC, Brunei where applicable.
• Maintain independence, deliver timely responses, and timely escalation of Shariah risks and issues
• Interact with Shariah teams in the Group. Ensure that key information is escalated to management on a timely basis.
• Assist to drive the Shariah agenda by working with Head Shariah Department Malaysia and SEA and Head, CFCC Brunei,. This includes maintaining relationships, collecting MI, ensuring consistency of relevant standards and educating accordingly.

Strategy
\xe2\x80\xa2 Support and implement the vision, strategy, direction and leadership of Head Shariah Department Malaysia and SEA and Head, CFCC, Brunei.
\xe2\x80\xa2 Promote the culture and practice of adherence to Shariah standards (including conducting business within regulatory requirements and requirements set by Shariah committees/ boards. Business

• Build and maintain an effective and constructive relationship with all key business and functional stakeholders that is based on trust, capability and integrity, providing timely, responsive and quality Shariah advice and guidance to enable the business and functions to meet/achieve their strategic tactical objectives.
• Provide Shariah advice, analysis (and challenge when appropriate) in relation to the full product life cycle including product design through Shariah reviews/assessments reviews advised by regulator if any.
• Provide robust challenge to senior management and all relevant business stakeholders where activities are outside Shariah 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 Shariah tolerance/appetite.
• Work closely with the business to provide timely Shariah advice to ensure the transition to pro-active and pre-emptive Shariah risk mitigation.
• Regular catch ups with all key business stakeholders.
• Work closely with GIB business in delivering products and transactions to clients in an appropriate and compliant manner, promoting the culture and practice of global standards, while managing local requirements.

Processes

• Establish and maintain effective processes (including training, advice and support) to ensure that policies, procedures, fatwas, rulings and standards to address Shariah risks are effectively implemented and adhered to across the Bank.
• As an independent second line risk control function, provide support and challenge to the Bank\xe2\x80\x99s senior management to ensure that they establish and monitor appropriate processes for Shariah guidelines, procedures fatwas, rulings and standards (including meeting Shariah obligations and maintaining high standards of conduct).

Risk Management

• Ensure effective management of Shariah matters, and in collaboration with the rest of the Shariah staff and Islamic business, effectively manage Shariah issues that have an impact on the Bank.
• Collaborate with the Shariah teams and the broader Islamic Banking business to anticipate horizon risks that may have a significant impact on the Bank and develop effective strategies to mitigate such horizon risks including global standards for conduct of business.
• In the event of material Shariah breaches, or where risk tolerances have been breached, ensure escalation to Head Shariah Department Malaysia and SEA and/ or Head, CFCC, Brunei for further consideration and possible escalation to senior management in the Bank and relevant Shariah authorities/ committees/ boards 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 Shariah developments and associated risks, and proactive engagement in reform. Assist and work closely with Shared Investigative Services (SIS) in relation to investigations concerning the GIB businesses.
• Disseminate Final Shariah Review reports with respect to Brunei Islamic Business to relevant Country and Business risk and control committees and management group on key Shariah risks and issues.
• Maintain adequate management MI / trackers across all aspects of one\xe2\x80\x99s coverage and responsibility to ensure all Shariah issues and matters raised in Shariah Reviews and Shariah Committee meetings are tracked, followed, regularly assessed and reported on (where applicable).
• Ensure Shariah standards are understood and implemented, with any identified exceptions, or need for more/less stringent Shariah standards escalated to relevant teams for joint decision-making. Provide Group thought leadership and execution on local and global Shariah regulatory reform and Shariah matters.

Governance

• Where needed, assist in developing and recommend (for approval by the relevant Shariah Committees), appropriate Shariah standards, guidelines and procedures.
• Manage SEA and Brunei Shariah governance and coordination activities such as participating in Group Islamic governance committees and aggregating logistics and support for the function.
• Ensure appropriate product\xe2\x80\x99s Shariah governance measures are in place so that product approval documents reflect all relevant Shariah requirements.

Regulatory & Business conduct

• This is mandatory standard wording, do not remove. please tailor wording in brackets.
• Display exemplary conduct and live by the Group\xe2\x80\x99s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines, fatwas and the Group Code of Conduct.
• Lead your Shariah team to achieve the outcomes set out in the Bank\xe2\x80\x99s Conduct Principles: Fair Outcomes for Clients; Financial Crime Prevention; Creating the Right Environment.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct, CFCC and Shariah matters.

Key Stakeholders

• CEO Islamic Malaysia
• CEO Brunei
• COO Teams
• GIB Islamic Origination
• Global Shariah Department
• Internal Audit
• Shariah Reviewers
• Dedicated Islamic Banking Compliance Officers (DIBCO\xe2\x80\x99s)
• GIB / Business Heads
• Shariah Committees/ Boards
• GIB / Product Structuring Teams

Our Ideal Candidate

• Academic or Professional Education/Qualification; at minimum hold a Bachelor Degree in Shariah, which includes study in Usul Fiqh or Fiqh Muamalat.
• Licenses and Certifications/Accreditations; Certification from ASAS, INCEIF, IBFIM or any other established training bodies.
• Bank training; Advanced in both Islamic retail, corporate products and services as well as Islamic Capital Market.

Role Specific Technical Competencies
COMPETENCIES:

• LEADERSHIP COMPETENCIES
• Spot Opportunities
• Solve Problems
• Take the Lead
• Build Resilience
• Collaborate
• Communicate
• Deliver Sustainably
• Achieve Results

TECHNICAL COMPETENCIES

• Universal Technical Competencies
• Manage Conduct
• Manage Risk
• Manage People
• Shariah Technical Competencies
• Shariah Guidelines and Standards
• Shariah Advisory
• Shariah Review and Assurance
• Surveillance (including Screening and Monitoring)
• Investigations
• Shariah Risk Assessment
• Regulatory Liaison
• Manage Change
• Manage Projects

About Standard Chartered We\'re an international bank, nimble enough to act, big enough for impact. For more than 160 years, we\'ve worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you\'re looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can\'t wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you\'ll see how we value difference and advocate inclusion. Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
• Time-off including annual, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with with minimum global standards for annual and public holiday, which is combined to 30 days minimum
• Flexible working options based around home and office locations, with flexible working patterns
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

Recruitment assessments - some of our roles use assessments to help us understand how suitable you are for the role you\'ve applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process. Visit our careers website www.sc.com/careers