Shari’ah Compliance Advisor – Islamic Finance Advisory

Job Description

Manager – Deal Structuring & Documentation | Mashreq

The Tone:
This is a leadership role at Mashreq, located in UAE. Mashreq is dedicated to developing and implementing Islamic financial products and services, including complex deal structures and Sukuk offerings. This position is vital for providing expert Shari’ah advisory, ensuring that all financial structures, facility documents, and new product developments strictly comply with Shari’ah principles, Higher Shariah Authority UAE – CB regulations, and internal guidelines, thereby upholding the bank’s integrity and adherence to Islamic finance standards.

The TL;DR
• Role: Full Time
• Type: Full-time
• Location: In-person, UAE

• Team: Reports to Head Islamic Finance: Advisory & Shari’ah Controls/ISSC
• Mission: To advise on the Shari’ah compliance of structures and facility documents for Islamic deals and products, ensuring adherence to regulatory and Shari’ah standards.
• Tech Stack: MS office

What You’ll Actually Do
• Shari’ah Structure Advisory: Advise on the most appropriate Shari’ah structure for various transactions, including bespoke bilateral deals, syndications, and Debt Capital Markets Sukuk, considering deal dynamics, UAE regulations, AAOIFI standards, ISSC guidelines, and Supervisor’s instructions.
• Legal & Documentation Support: Support and liaise with internal and external legal counsels during the drafting of facility documents to ensure precise articulation of Shari’ah compliance concerns in relevant clauses, and collaborate with counterparts in other Islamic Banks for syndications to resolve disagreements.
• Product Development & Review: Provide comprehensive Shari’ah advisory on new Islamic products for CIBG, IBG, and TCM business units, review and obtain necessary approvals for all related product contracts and documents, and ensure adherence to ISSC guidelines for digital journey screens.
• Compliance & Query Resolution: Timely address business and product queries related to Shari’ah matters, coordinate with business, product, and legal teams for the preparation or amendment of legal documents in light of Shari’ah compliance requirements, and maintain and refresh Shari’ah-related E-Learning.
• Internal & Regulatory Liaison: Assist the Line Manager in presenting recommended solutions and documentation suites to the ISSC for approvals, approach Executive Members or the ISSC to present concepts, procure required approvals, and respond to queries, while exhibiting strong command of local and regional Islamic banking regulations.

The Must-Haves
• Background: Bachelor’s degree or a professional qualification in commerce, business, or banking, coupled with significant exposure to Shari’ah principles gained through studies, courses, or extensive on-the-job learning.
• Experience: A minimum of ten years of professional experience, including at least seven years of relevant experience within the Islamic Financial sector, such as Financial Institutions or Accounting & Auditing Firms.
• Skills: Extraordinary attention to detail, strong communication skills for interacting with various bank-wide teams on technical issues, and a proficient command of MS Office applications.
• Bonus: Certification or qualification in Islamic Banking, with a preference for AAOIFI’s certifications.