Summary

The incumbent in conjunction with the SVP Islamic Business Development shall be responsible for the ownership and accountability for the achievement of the overall International Islamic Banking targets (assets, liabilities and profits). The incumbent will be overall responsible for the initial development and subsequent implementation of the approved QNB Group International Islamic Banking strategy in line with the overall Group strategy. The incumbent will ensure that the Islamic product offerings are continually aligned with the market offerings and cater to the needs and expectations of the retail and corporate banking clientele seeking Sharia compliant banking relationships. The incumbent will also develop and maintain the key relationships with the external business partners and is overall responsible for expanding QNB Islamic Banking’s international market share

Experience

- Ensure that the approved strategy, business plans, budgets along with the approved policies/ procedures and subsequent amendments thereto are timely communicated to the respective departmental heads to the extent these relate to their areas of responsibility, to enable them to be guided by/ pursue or comply with the same. #

- Strive to maintain continuous compliance of the policies/ procedures with prevailing practices/ regulations pertaining to Islamic Banking promulgated by the AAOIFI, IFSB and the respective regulators (in the overseas jurisdictions), including obtaining the approval of the local Sharia Committees as and when required.

- Responsible for the on-going management of Islamic portfolio within the limits and conditions set by the Group’s Board of Directors, the Group Executive Committee and other management level committees.

- Advise SEVP International Business on continual basis to enhance the risk adjusted performance of QNB Islamic international investment portfolio.

- Lead the effort of investment funds selection by determining their suitability to QNB International Islamic.

- Monitor local and regional financial market trends, for suitable investments that meet with the Bank's credit and investment guidelines.

- Oversee the management of the Islamic balance sheet with specific responsibility for liquidity management, profit rate and market risk management.

- Monitor the overall market forces prevailing within the Islamic Banking market such as barriers to entry, prevailing market returns and profit rates, competition, client needs and requirement etc and ensure the same are built into the product design and pricing.

- Oversee the roll-out of Sharia compliant products

- Act within the limits of the powers delegated to the incumbent and delegate authority pertaining to operational and financial matters to the respective departmental heads including approval of the delegation of authority schedule prepared by the departmental heads for their respective departments. Submit credit proposals which exceed his approval authority to the GCEO/ appropriate committee.

- Ensure efficient/ optimum use of available resources through partnering arrangements with other Group divisions/ departments (viz. with Group Retail Banking for service quality, customer care centre and e-banking related services/ matters) and with an emphasis on transparency and accountability.

- Ensure Islamic information disclosed on the Group’s web-site, product brochures, annual reports and all other means of communication is timely, accurate and complete by liaison with Group Communication.

- Monitor/ review Islamic portfolio by business segment on overall basis and by product, nationality/ business profile, employer/ industry and other parameters on periodic basis to gauge the quality and performance of the same.

- Submit periodic reports/ information to the SEVP International Business, and as and when required.

- Responsible for establishing and maintaining a sound internal control environment across the Islamic portfolio including but not limited to the establishment of an organizational structure that clearly assigns authority, responsibility, and reporting relationships and avoids conflict of interest situations/ inadequate segregation of duties.

- Responsible for overseeing the overall action plans for addressing control weaknesses or Sharia compliance issues noted by the Group Internal Audit Department, Sharia auditors, external auditors or the Group Compliance function.

Qualifications

• Bachelor's Degree with further study to include an Internationally recognised qualifications in Sharia Finance

• Minimum 12 years of relevant work experience, preferably within a highly rated international bank.

• Excellent oral and written communication skills (including report writing) in English and Arabic (French also desired).

• Good interpersonal and presentation skills.

• Understanding of the relevant laws, regulations, and practices.

• Ability to make decisions and follow through with initiatives.

• Personal integrity and self-management.

• Planning, organising, and analytical ability.

• Results oriented.

• Strong analytical skills and the ability to communicate both verbally and in writing with all levels of management.