Description
Role : Head - Quality Assurance
Location : Abu Dhabi
Role Purpose:
Assist the Group Head - ISAG in Sharia audit excellence and governance Oversight function according to the best practices to ensure continuity of compliance and conformity level with Sharia rules & regulations based on IIA standards.
Key Accountabilities of the role
Assurance & Governance Oversight:
Internal Sharia audit serves as the third line of defense providing independent assurance on the effectiveness of Sharia governance Sharia Non-Compliance Risk management and internal Sharia controls.
In Sharia-compliant institutions this includes ensuring adherence to Higher Sharia Authority (HSA) AAOIFI standards and resolutions from the Internal Sharia Supervisory Committee (ISSC).
Risk-Based Audit Planning
Excellence in internal Sharia audit is reflected in risk-based planning based on Sharia Audit Universe.
Enhancing Sharia Compliance
Internal Sharia audit excellence ensures that all operations conform to Islamic principles. This includes:
Reviewing Fatwas and resolutions.
Monitoring implementation of Sharia controls.
Following up on exceptions and compliance gaps.
Quality Assurance & Continuous Improvement
The Group Head-ISA JD outlines responsibilities for maintaining audit quality reporting to the Board Audit Committee and aligning with international standards.
Tools like MIS reports and GRC systems are used to track Sharia exceptions and audit performance.
Annual Sharia Audit Plan
- On an annual basis update the elements of risk rating scorings for each Sharia Auditable entity as reflected in Sharia Audit Manual. Coordinate with the concerned business units to obtain any additional/missing information (i.e. finance figures deposit figures).
- Amend/revise the scope of work for each B U.
- Arrive to the overall Sharia Risk rating for each B U subject to Sharia Audit.
- Select the units to be audited next year.
- Perform skill analysis on all Sharia Audit staff to ensure that Sharia Audit function possess the right resources for the planned assignments (i.e. Measuring staff competency).
- Allocate man-days for the units to be audited for the year according to the planned man-days tab shown in the Sharia Audit Universe excel sheet.
- Assist in obtaining ISSC approval on the years Sharia Audit plan in consultation with BAC through ISAG Head.
- Assist in presenting and share the Sharia Audit plan for the year risk rating and scope of work to the Board Audit Committee also with the concerned Groups Heads through ISAG Head.
ISAG Dashboards & Activity Reports
- Preparation ISAG-Dashboards (Bi-annually)
- Assistance in preparing Quarterly ISAG Activity Reports
- Assistance in preparing Quarterly ISSC Activity Reports
Improvement of ISA Quality Assurance Program
- Conduct periodic Quality review on all ISA related documents (Sharia Audit Universe Sharia Internal Audit Charter Sharia Internal Audit Manual Risk Ratings JDs etc.)
- Perform Quality Assurance Review on the All Planning Documents (Authority Letter APM Audit Program Product Risk Rating Resource Allocation Sample Selection etc.)
- Perform Quality Assurance Review on the all the Consolidated Exceptions Sheet (Reviewing drafting of Exceptions Assigning Risk Rating Recommendation and Action Plan etc.)
- Perform Quality Assurance Review on all the Detailed Report and Executive Summary
- Coordinate with Group Internal Audit (GIA) to Share Report of Internal Sharia Audit Group and to discuss and align the Audit Approach
- Coordinate with Group Compliance to ensure that CB-UAE requirements are provided on timely basis
- Expedite the process of compliance and closure of any pending CBUAE issue/findings on ISAG
- Supervise the Proper functioning of the i-Sharia Audit System
- Supervise the proper Implementation and Operations of Business Continuity Planning (BCP)
Other Tasks
- Internal meetings (ISAG Staff Monthly Meeting with Group Head)
- Internal meetings (ISAG Staff Weekly Meeting with Group Head)
- Adhoc presentations / Tasks required from Group Head
- Trainings attended
- Goal setting
- Mid-year review
- Annual Performance Appraisal
Specialist Skills / Technical Knowledge Required for this role:
- Chartered Accountant / Bachelors From a reputable Institute / University
- Profession Experience (External / Internal / Sharia Audit) of Big 4 Audit Firm and/or Islamic Banking Industry
- Certifications in Internal Audit Sharia Audit like CIA (IIA) CSAA (AAOIFI-Bahrain)
- English language & Arabic
- IT related (MS Excel Word Power Point) Skills
Previous experience:
7-10 Years experience in Audit Profession.
Key Skills Change Management,Corporate Communications,Apache Commons,Compensation,Civil Quality Control
Employment Type : Full Time
Experience: years
Vacancy: 1