Shariah Internal Audit Officer

About FMFB-A:

As a background, FMFB-A started its operation in 2004 and is part of the Aga Khan Agency for Microfinance (AKAM), which has financial institutions operating in different countries throughout the world. It is affiliated with the Aga Khan Development Network (AKDN), a group of development agencies working in health, education, culture and rural economic development.

Job Summary: 

Internal Shariah Audit function is an important component of Islamic financial Institutions’ (IFIs’/ Institutions’) governance framework as it promotes internal accountability and transparency, and helps gain the confidence of all stakeholders of the IFI. A robust Internal Shariah Audit function is key for the overall soundness and successful internal functioning of an IFI. The Shariah Audit function will undertake periodical assessment to provide an independent assessment and objective assurance designed to add value and improve the degree of compliance of the Bank’s business operations with Shariah rules and principles.

Job Details:

Position Duties and Responsibilities:

• Understand the Shari’ah parameters in respect of Islamic Banking products and services including both asset side and liability side products.
• Understand the Islamic Banking operation and investment policies & procedures.
• Understand the Islamic banking contracts in all aspects.
• To ensure that the functions follow the Bank’s internal rules and regulations, guidelines, and other applicable Laws and Standards.
• Assist the Internal Shariah Audit Management in scheduling the audits and other assignments and in achieving the annual audit plan.
• Determine areas of risks related to Islamic banking activities in order to focus on the key risk areas while conducting reviews.
• Conduct ingress meeting with the auditee, interview appropriate personnel, accumulate, verify and analyses available data required for the assignment; identifying existing or potential problem areas; Conduct exit meeting with the auditee, draft and finalize the audit reports.
• Supervise the audits/other assignments in a professional manner in accordance with the approved plans and internal shariah audit methodology as per the Internal Shariah Audit manual.
• Supervise and manage the work of audit team members, in addition to discharging the duties of an individual auditor in any assignment.
• Ensure the audit report is reviewed, finalized and issued as per the agreed timeline.
• Ensure that the audit working paper file/permanent file are properly maintained as per the Bank’s internal guidelines.
• Recommend internal audit policies, procedures and programs in line with AAOIFI Auditing standards, international auditing standards, accounting and other professional practices, standards and guidelines.
• Be up-to-date informed of the recent developments, including risks, financial and compliance issues, in relation to audit universe. Train the team members on both professional and technical matters, while in office or at the auditee location.
• Attend trainings and seminars as decided by the Internal Shariah Audit Management.
• Maintain good working relationship with all key parties including Shariah Board and Shariah department team.
• Other job-related tasks as assigned by the Shariah Audit Unit.

Job Specifications:

• Excellent interpersonal and lateral thinking skills;
• Excellent planning and organizing skills with strong follow through abilities;
• Strong in both written and verbal communication;
• Self-motivated and able to work independently;
• Progressive and able to handle complex business operating environment in terms of changes in regulatory requirements, market trends and practices etc.

Submission Guideline:

If you meet the above requirements, we are encouraging you to apply for this position. Please send us your CV along with a cover letter via email at (vacancies@fmfb.com.af).

Please make sure that your email includes the vacancy ID as the subject line.

Note that, only the candidates who are meeting the requirements of the position will be shortlisted.