Islamic Shariah Product Manager
- Manama, Capital Governorate, Bahrain Manama Capital Governorate BH
- Permanent, Full time
- 21 Mar 18 2018-03-21
Responsible for launch of new Islamic products, enhancement of existing products, structuring of transactions and supporting Group wide initiatives on Islamic banking.
Principal Responsibilities, Accountabilities and Deliverables of Role:
- Work on development of new products, as agreed in consultation with GH Islamic banking.
- Upgrade and develop the Islamic products platform to complete and enhance the Islamic proposition. This includes ensuring a gap analysis of existing product suite with what is available with wholesale banking at the bank and being offered by our competitors.
- Assist GH Islamic banking in launch of Islamic banking in presence countries across the Group (Islamic window operations or full-fledged Islamic bank, as relevant).
- Co-ordinate and work with internal and external advisors on new product launch and Islamic banking initiatives.
- Work closely with Shariah Compliance and coverage teams to ensure our products meet Shariah and market requirements adequately.
- Develop comprehensive new product programs (PPM’s) and update/review existing PPM’s. Among other things, each PPM to cover product features and structure, risk factors with mitigants, operational processes, system support (IT and accounting / finance) and documentation (as applicable).
- The jobholder to interact with the legal, compliance, operations and finance, as and when required.
- Manage Governance, Audit and Compliance sensitivities related to product features as well as Shariah standards.
- Carries out a thorough competitor analysis to compare our product proposition with competition and to remain abreast with changes in the market place.
- Ensure that all Shari’ah guidelines for new and existing products/processes are properly communicated and captured in back offices’ processes and systems. ·
- Keep update with the new standards and regulations, competitors’ progress, market trends, and customer needs to carry out research and development of new products that can be offered by the Bank to its customers.
- Carry out research work to gather news/updates regarding progress of Islamic Banking & Finance industry globally and update team members accordingly.
- To act as the first contact person for the assigned areas to address daily volume of queries and trouble shooting.
Job Context (Circumstances & environment surrounding the job):
As Product manager, the job context entails working closely with GH Islamic banking in setting out priorities for launch of Islamic banking products across the group and in enhancing and expanding Islamic foot print across MENA subsidiaries and other presence countries. The product manager will act as a key resource to evaluate (on his own or in co-ordination with consultants / advisors as deemed necessary) viability of Islamic banking products and/or new initiatives across the Group. The role encompasses developing appropriate business / product strategies, product programs and implementation of these products and initiatives.
Job holder is required to be completely abreast with Islamic product knowledge and ideally should have worked in such role for several years. Should also have good understanding of banking markets of GCC and MENA. Should have in-depth understanding of loan, treasury, cash management and trade finance products, and should have experience of Shariah credit structures. Should have sufficient knowledge and understanding of Compliance & Risk issues.
Education / Certifications
- Masters / MBA / BSc from a reputable university
- 7 to 10 years
- Excellent communication skills (verbal and written). Extrovert, comfortable in dealing with people. Analytical mind. Should have ability to adapt to the rapidly changing external environment. Should be able to represent bank professionally at internal and external forums.