Manager, Business & Shariah Risk at Hong Leong Islamic Bank Berhad

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Job Description

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  The Business &amp; Shariah Risk Manager's key responsibility is to assist the Hong Leong Islamic Bank&rsquo;s (HLISB) Chief Risk Officer to effectively manage Islamic Banking Business risk and Shariah non-compliance risk inherent in HLISB.
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   Key Responsibilities and Accountabilities
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  Functional
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   (job responsibilities)
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    Development &amp; Control
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   To develop and continuously enhance the Shariah Compliance Risk Management Framework and other risk management policies and procedures relevant to Islamic Banking Businesses. This includes customizing relevant Group policies for HLISB implementation.
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   Facilitate risk assessment and control effectiveness assessment for new businesses, products or services during development stage and pre-launch stage as part of the Bank&rsquo;s PVPC process.
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   Continuous monitoring of risk profiles and controls effectiveness to facilitate efficient and effective management of Islamic Banking Business Risk and Shariah non-compliance risk as well as ensuring HLISB stays within the risk thresholds set out in the Risk Appetite Statements.
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    Monitoring &amp; Report
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   Track and report rectification status of Shariah non-compliant events.
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   Track and report purification of non-permissible income through income de-recognition.
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   Provide timely and independent reporting and escalation of key risks and controls issues to BARMC, Shariah Committee and Senior Management.
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    Shariah Compliance
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   Facilitate introduction of new controls to better mitigate/minimize Islamic Banking Business risk and Shariah non-compliance risk.
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   Responsible together with the Shariah Division as reporting unit on Shariah non-compliance reporting to BNM.
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   Engage regular communication with other internal Shariah compliance functions to ensure timely sharing of information and proper coordination to handle any emerging Shariah compliance matters.
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  Organizational
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   (organizational responsibilities)
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   Inculcate proactive risk management culture in the Bank.
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    Jobholder Requirements
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   Malaysian citizen.
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   Education/Qualification
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   Degree or Masters in Business Administration, Finance, Accounting, Banking or related discipline with relevant working experience in the area of risk management within the financial services industry.
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   Experience
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   Five years and above work experience in a financial institution. Candidates with less than five years working experience may also apply if previous experience is relevant to Shariah Compliance Risk Management.
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   Special Skills
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   Analytical Thinking
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   Critical Thinking
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   People Management
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   Communication Effectiveness
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   Stakeholder Management
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   Certification/Licensing Requirements
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   Professional qualification in Shariah, Islamic Finance or Islamic Banking is a plus.
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   What&rsquo;s next:
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   Once you&rsquo;ve applied online, our team will carefully review your application. Due to a high volume of applications, we appreciate your patience to allow for a fair and timely review process.
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   Should you be shortlisted for the role, we will send you an invitation via email for an interview. You can also check on your application status by logging into your candidate account.
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    HLB Careers link:
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    https://hlb.wd3.myworkdayjobs.com/HLBCareers/job/HLT-Hong-Leong-Tower/Manager--Business---Shariah-Risk_JR0000016549-1
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  For more job opportunities, please go to HLB Careers:
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   https://hlb.wd3.myworkdayjobs.com/HLBCareers/
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AI Powered Job Insights

Exciting opportunity for a Business & Shariah Risk Manager at Hong Leong Islamic Bank Berhad! They are looking for a detail-oriented professional to help manage Islamic Banking Business risks and ensure compliance with Shariah guidelines.

📍 Location: Hong Leong Islamic Bank Berhad  
💼 Position: Business & Shariah Risk Manager  
⏰ Type: Full-time  
📅 Date Posted: 2024-07-16  

Role Summary:  
- Assist in managing risks associated with Islamic Banking, including Shariah non-compliance risks.  
- Work closely with the Chief Risk Officer and other teams to develop and enhance relevant risk management frameworks.  

What You'll Do:  
- Develop and continuously enhance the Shariah Compliance Risk Management Framework.  
- Facilitate risk assessments for new products and services.  
- Monitor risk profiles and compliance controls.  
- Track and report non-compliant events and income purification efforts.  
- Collaborate with Shariah Division for compliance reporting to Bank Negara Malaysia (BNM).  

What's Needed:  
- Malaysian citizen with a degree or Masters in relevant fields such as Business Administration or Finance.  
- At least five years of experience in a financial institution, though those with less may apply if relevant.  
- Strong analytical, critical thinking, and communication skills.  
- Professional qualification in Shariah or Islamic Finance is a plus.  

This role not only emphasizes risk management but also encourages a proactive culture in addressing Islamic Banking risks. Interested candidates are urged to apply online for consideration!

Top Interview Questions

  • Q: Can you describe your experience in developing and enhancing risk management frameworks, particularly in the context of Islamic Banking?

    A: In my previous role, I was responsible for developing a comprehensive Shariah Compliance Risk Management Framework. I began by conducting a thorough analysis of existing risks and aligning our policies with regulatory requirements. By collaborating with various internal teams, I continuously refined the framework, ensuring it was not only compliant but also practical for daily operations. Regular training sessions were held for staff to instill a strong understanding of the framework, enhancing our overall compliance.

  • Q: How do you approach monitoring and reporting Shariah non-compliance events, and what indicators do you consider critical?

    A: I take a methodical approach to monitoring Shariah non-compliance. Initially, I identify key performance indicators such as the frequency and nature of non-compliance incidents, the speed of mitigation actions taken, and reported financial impacts. I use these indicators to produce regular reports for the Shariah Committee and senior management. My goal is to provide a clear view of risk status and ensure proactive measures are in place. For instance, I once implemented a tracking system that allowed real-time reporting of non-compliance events, significantly shortening our response time.

  • Q: Describe a situation where you had to facilitate risk assessments for new banking products. What steps did you take to ensure thorough evaluations?

    A: When I was involved in the launch of a new Islamic financing product, I led the risk assessment team to evaluate potential Shariah and business risks. We began by identifying critical areas of concern, including compliance with Shariah principles and market acceptance. I organized workshops with product developers, risk management, and the Shariah Division to gather insights. We then utilized a risk matrix to quantify risks and establish mitigation plans before the product launch. This comprehensive approach not only ensured compliance but also facilitated a smoother product rollout.

  • Q: What strategies do you use to communicate complex risk management concepts to non-expert stakeholders?

    A: I believe in using clear, jargon-free language combined with visual aids to explain complex risk management concepts. For example, when presenting to senior management, I utilize graphs and flowcharts to illustrate risk exposure and mitigation strategies. I also encourage questions to ensure understanding. In one instance, I conducted a workshop for new employees focusing on risk awareness, where I simplified concepts into relatable scenarios, making it engaging and ensuring all participants left with a solid understanding.

  • Q: Can you discuss the importance of stakeholder management in your role and provide an example of how you've engaged with different stakeholders?

    A: Stakeholder management is critical in ensuring effective communication and collaboration across various departments. In my previous position, I established regular meetings with both the Shariah Committee and operational teams to align our objectives and address any concerns promptly. For example, when implementing a new risk framework, I organized joint sessions where we collectively discussed implementation challenges and celebrated small wins. This not only fostered a sense of ownership across teams but also reinforced our commitment to compliance and risk management.

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