Job description

Job Purpose Summary:

The incumbent has full 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 Banking strategy in line with the overall Group strategy. The incumbent will communicate with the stakeholder to ensure that the Islamic product offerings are continually aligned with the market offerings and cater to the needs and expectations of the retail /corporate banking clientele seeking Sharia compliant banking relationships. The incumbent will also develop and maintain the key relationships with the external business partners.

A. Shareholder & Financial:

• Implements KPI’s and best practices for incumbent position.

  
  

• review QNB International Islamic Banking strategic and business development plans and subsequently

  
  

• implement the approved strategy/ plan to facilitate achievement of related short- and long-term business goals internationally in the most effective and efficient manner.

  
  

• Oversee the development and subsequent implementation of annual business plans by the Islamic Banking segments in International Banking to ensure achievement of pre-set targets/ objectives, including business growth and expansion.

  
  

• Oversee the target budgets (deposits, financing deals, profits, expenses…etc) for Islamic Banking business lines, in accordance with the Group’s overall budget and strategy, and continually monitor the same in conjunction with Islamic function in the branch/subsidiary.

  
  

• Facilitate the development and subsequent implementation of Islamic Banking best practices across all activities/operations comprising QNB International to promote efficiencies in work processes, ultimately resulting in increased customer satisfaction.

  
  

• Demonstrate clear understanding of the important factors behind the bank's financial & non-financial performance.

  
  

• Act within the limits of the powers delegated to the incumbent and delegate authority to the respective staff and monitor exercise of the same

  
  

• Demonstrate clear understanding of the important factors behind the bank's financial & non-financial performance.

  
  

B. Customer (Internal & External):

• Ensure provision of value-added Shariah compliant products to the existing/ potential Islamic clientele who seek

  
  

• Shariah compliant banking relationships with the Group and meeting/ exceeding their service expectations.

  
  

• Maintain and enhance relationships with international regulators.

  
  

• Provide timely and accurate information to the auditors and the Group Compliance function as and when required.

  
  

• Build and maintain strong/effective relationships with related departments/units to achieve the Group’s objectives.

  
  

• Provide timely/accurate data to Auditors, Compliance, Financial Control and Risk when required, with close liaising with the branch

  
  

C. Internal (Processes, Products, Regulatory):

• 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.

  
  

• Support the effort of investment funds selection by determining their suitability to QNB International Islamic.

  
  

• Monitor international financial market trends, for suitable investments that meet with the Bank's credit and investment guidelines provided by the branches.

  
  

• 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 requirements, etc., and ensure the same are built into the product design.

  
  

• 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 country with sharia compliant offering.

  
  

• Ensure efficient/ optimum use of available resources through partnering arrangements within the group

  
  

• 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.

  
  

• Represent the Islamic offerings at relevant conferences to enhance image of the Group

  
  

  • Continuous Improvement:

    
    

  • Set examples by leading improvement initiatives through cross-functional teams ensuring successes.

    
    

  • Continuously encourage and recognise the importance of thinking out-of-the-box within the team.

    
    

  • Encourage, solicit and reward innovative ideas.

    
    

D. Learning & Knowledge:

• Establish the overall Islamic training plan

  
  

• Proactively identify areas for professional development of self and undertake development activities.

  
  

• Seek out opportunities to remain current with all developments in professional field.

  
  

• Hold meetings with Islamic team in the international branches/subsidiaries to enhance offering.

  
  

• Take decisive action to ensure speedy resolution of unresolved grievances or conflicts within the team members.

  
  

• Identify development opportunities and activities for staff and facilitate/coach them to improve their effectives and prepare them to assume greater responsibilities

  
  

• Hold meetings with staff and assess their performance and your team’s overall performance on a regular basis.

  
  

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

  
  

• Minimum education requirement: Bachelor's Degree (related field of study)