Unit Head Shariah Audit Unit  
The Bank of Punjab (BOP)   More jobs from this company

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Job Title:   Unit Head Shariah Audit Unit
Category:   Accounts
Total Positions:   1
Job Location:   Lahore
Gender:   No Preference
Minimum Education:   Masters
Degree Title:   MS/MS-Islamic Banking & Finance/MBA/M.Com/Darse-Nizami/16 years of academic education or ACCA/ICMA/ICAP etc. Islamic Banking & Finance Certification/Qualification is an added advantage such as CSAA/CIPA/MIFP etc.
Career Level:   GM / CEO / Country Head / President
Minimum Experience:   8 Years
Apply By:   Nov 2, 2020
Job Description:

Division/Department: Internal Audit Function

Grade Range: AVP to SVP

Direct Reporting to Chief Internal Auditor

Major Duties & Responsibilities to perform the Role:

  • Preparation of Annual Shariah Audit Plan against available resource allocation for approval of competent authority through CIA. Supervise the implementation of the Shariah Audit Plan and ensure timely completion of activities.
  • Allocation of resources according to risk profile of the auditable entity. Manage and monitor the overall performance of the engagement to ensure smooth completion thereof. Monitor staffing needs and schedules to ensure optimal utilization of audit resources.
  • Provide strategic direction to the Shariah Audit Unit, in line with Bank's overall strategy/ policy and in full conformation with Shariah Governance Framework and compliance requirements. Develop and implement an effective and robust Shariah Audit Framework.
  • Identify and evaluate the Shariah risks to the Taqwa Islamic Banking (TIB) arising from its business activities, through audit findings, assessment, evaluation and research. Provide opinions and viable solutions on the same to TIB management, on an ongoing basis.
  • Apprising of the Resident Shariah Board Member and Central Audit Committee through CIA bi-annually, on significant findings of Shariah Audit engagements carried out by the Unit. Keeping them abreast of developments and trends in Shariah Auditing practices and give recommendations for necessary revisions in the Shariah IAM.
  • Provide consultancy to TIB Function (if desired) during new product development/ market expansion and process workflow improvements to review, determine and build Shariah controls.
  • Apprise the staff on prevalent market practices for enhancing the level of Shariah control and good corporate governance environment and/or to improve or simplify the procedures and work process flows.
  • Facilitate communication with management to enable discussion on their concerns on Shariah engagements through conclusion meetings. Review and finalize all Shariah Audit reports prior to distribution.
  • Review works performed by Shariah audit teams on timely basis and ensure that issues identified have been adequately reported / escalated. Coach Shariah audit teams on ongoing basis to clarify their understanding on Shariah Audit Methodology and to keep them abreast with the recent developments. Identify training needs of staff and coordinate with Audit Office for their training.
  • Review the engagement file to determine if the work is appropriately documented and reviewed according to the engagement plan. Ensure that the working paper file is adequately prepared for archiving.
  • Any other assignment given by the Supervisor. 

Relevant Experience: Minimum 8 Years of experience of any commercial bank out of which 05 years in Shariah organs such as Shariah Audit Function with at least 2 years of experience at supervisory level.

Qualification: MS/MS-Islamic Banking & Finance/MBA/M.Com/Darse-Nizami/16 years of academic education or ACCA/ICMA/ICAP etc.

Islamic Banking & Finance Certification/Qualification is an added advantage such as CSAA/CIPA/MIFP etc

Company Information
Company Name:  The Bank of Punjab (BOP)
Company Description:
The Bank of Punjab was established in 1989 under The Bank of Punjab Act, 1989 passed by Provincial Assembly of the Punjab, as a non-scheduled Commercial Bank with majority shareholding of Government of the Punjab. The Bank earned the status of a scheduled Commercial Bank in 1994 and currently carries a vast network of over 620 online branches, strategically located across the Country along with an ATM network of over 550 offering 24/7 banking services to its diverse clientele of over 2 million. Since its inception, the BOP has seen many ups and downs and has also successfully weathered the waves of economic volatility, recessions and stiff market competition over the years. Current strong network base coupled with solid capital structure and phenomenal financial results posted during last few years has transformed the Bank to one of a leading financial institution of the Country. Now, the Bank standouts among peer group as a robust and rapidly growing commercial Bank. Besides offering a range of products and services to meet the modern days’ banking requirements of its clients, the Bank has also established its footprint in the areas of consumer financing, agriculture credit, corporate & investment banking, cash management and alternative delivery channels. While achieving the objective of financial inclusion through its presence in remote and unbanked areas of the Country with HarFardKaKhayal the Bank is playing its due role in the economic growth of the Country through its various specially tailored and designed products and services.

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