Assistant Internal Shari’a Auditor
Hciq Cx · UAE
Role : Assistant Internal Shari’a Auditor (UAE National)
Location : Abu Dhabi
Role Purpose:
Assist in assessing the continuity and conformity level of Shari’a rules & principles throughout the Internal Shari’a Audit assignments in order to provide a reasonable assurance to the management that Shari’a risk is mitigated to an acceptable residual level.
Key Accountabilities of the role
- Adhere to:- The AAOIFI Standards.
- The CBUAE HSA Resolutions
- ADIB- ISSC’ Resolutions
- The Institute of Internal Audit Standards e.g. independence, objectivity, proficiency and performance of audit work.
- The Internal Shari’a Audit objectives, mission and vision.
- Assistance in carrying out performance of the internal Shari’a audit assignments/assigned duties efficiently and effectively based on the risk-based Shari’a Audit approach sketched by the line Management and in consultation with Team Leader.
- As Assistant Internal Shari’a Auditor, the main responsibilities are as follows:- With team leader and team members visit departments/units subject to Shari’a Audit (Preliminary Survey) based on: Familiarization, Identification of potential areas of improvement, Confirmation, Planning the detailed audit.
- Assist compiling, reviewing and summarizing Higher Shari’a Authority CBUAE -HSA and ADIB Internal Shari’a Supervisory Committee ISSC’s resolutions.
- Assist reviewing of Policy and Procedures related to processes/products.
- Assist developing/reviewing the Shari’a Audit Program and identifying/defining areas of Shari’a Non-Compliance Risks.
- Assist Identifying and evaluating the Shari’a Non-Compliance (SNC) Risks. (Prioritizing/quantifying the SNC, SNC Assessment, Likelihood Rating Scale & Criteria, Impact Rating Scale & Criteria, Overall SNC Score scale, Definition & Criteria, Identifying the Shari’a Controls, Prioritizing, quantifying and evaluating the effectiveness of Shari’a Controls, Obtaining Management Consensus).
- Assist Listing of Shari’a Audit requirements/reports.
- Assist Risk Assessment for Finance Products (Assets) only. (Risk Assessment (for Finance Products) - Evaluation framework (scoring system).
- Assist Sampling methodology (Extensive Testing, Moderate Testing, Standard Testing).
- Assist Prepare Authority Letter.
- Assist Formation the Shari’a audit assignments teams (team leader and members).
- Assist Using the Shari’a Risk and Control Analysis to determine the Shari’a Audit Approach (Documenting the Shari’a Control, Walk-through of Controls, Evaluating the Effectiveness of Shari’a Compliance Controls, Reviewing the Associated Evidences).
- Assist Sampling methodology (Defining the Population, Number of locations, Shari’a Control changes, Setting the Sample Size, Document the Tests to be performed).
- Assist Reviewing and auditing the selected sample.
- Assist Findings/Exceptions’ Sheets (Finding/Exception, Cause, Responsibility, SNC/ Impact, Working Paper/s Ref, Recommendation/Policy Reference, Management reply & Target Date).
- Comply with any additional tasks which could be assigned by the Team Leader/line management.
Specialist Skills / Technical Knowledge Required for this role:
- UAE nationality.
- Have a university degree in Islamic Shari’a, or relevant specializations.
- Have a professional certificate in Shari’a and Islamic Banking Audit form one of the organizations that support Islamic fiancé like (AAOIFI) and (CIBAFI). (an option)
- Preferable to have a professional certification in auditing issued by an international organization like CIA level 1.
- Arabic & English language
- IT skills
Previous experience:
Fresh graduated or up to 2 years' experience.