Unit Head - Shariah Reporting & Special Projects (AVP)
National Bank of Pakistan
Published Date: • Karachi, Pakistan (On-Site)
Description
“The Nation’s Bank”, National Bank of Pakistan aims to support the financial well-being of the Nation along with enabling sustainable growth and inclusive development through its wide local and international network of branches. Being one of the leading and largest banks of Pakistan, National Bank of Pakistan is contributing significantly towards socioeconomic growth in the country with an objective to transform the institution into a future-fit, agile and sustainable Bank.
In line with our strategy, the Bank is looking for talented, dedicated and experienced professional(s) for the following position in the area of of Financial Control based at Karachi.
The individuals who fulfill the below basic-eligibility criteria may apply for the following position:
Position / Job Title:
Unit Head - Shariah Reporting & Special Projects (AVP)
Reporting to:
Wing Head - Strategic Finance & Special Projects
Educational /Professional Qualification:
Minimum Graduation or equivalent from a local or international university / college / institute recognized by the HEC of Pakistan
Candidates having Master’s degree and / or any other relevant certification(s) will be preferred
Experience:
- Minimum 06 years of Banking experience out of which at least 02 years in Financial reporting function of an Islamic Banking functions
Other Skills / Expertise / Knowledge Required:
Preferably Islamic Finance and / or Islamic Banking and / or Shariah related qualification
Strong knowledge of IFRS and SBP regulatory framework
Working knowledge of AAOIFI standards and Islamic banking contracts
Ability to interpret Shariah rulings and translate them into accounting/reporting requirements
Strong data mining and analytical skills with ability to manage large volumes of data and interpret and comment on data movement
Excellent communication skills
Detail oriented with high level of accuracy
Outline of Main Duties / Responsibilities:
To review the accounting and financial reporting treatment of Islamic banking products and transactions from a Shariah compliance perspective
To ensure appropriate presentation and disclosure of Islamic assets, liabilities, income, expenses, investments and profit sharing arrangements
To review the Shariah basis and accounting implications of new Islamic products, structures and transactions
To review and identify non Shariah compliant income / earnings for appropriate accounting treatment, segregation and purification in accordance with the approved Shariah framework
To act as Finance’s focal person for matters involving Shariah principles and IFRS / accounting requirements
To support the interpretation and implementation of relevant SBP instructions, AAOIFI standards / guidance, IFRS and other applicable regulatory requirements
To coordinate with the Shariah Board / Resident Shariah Board, Shariah Compliance, Internal Audit and External Auditors on Finance related Shariah observations
To maintain a central tracker of Shariah related observations affecting Finance and monitor the status of remediation and corrective actions
To assist in preparing responses, reconciliations and supporting documentation for Shariah reviews and audits
To ensure that appropriate accounting treatment, system configuration, GL mapping and reporting requirements are identified and addressed before the launch of new products or transactions
To assist in developing and updating Finance policies and procedures relating to Shariah compliant financial reporting
To maintain a repository of approved Shariah rulings / Fatwas and their relevant accounting and financial reporting implications
To prepare periodic management reports covering Shariah related financial reporting issues, identified exceptions / non compliance, purification amounts, outstanding Shariah observations, status of corrective actions, new products / transactions requiring review, and relevant regulatory developments
To perform any other assignment as assigned by the Supervisor(s)
Place of Posting:
Karachi
Assessment Interview(s)
Only shortlisted candidates strictly meeting the above-mentioned basic eligibility criteria will be invited for panel interview(s).
Employment Type:
The employment will be on contractual basis for three years which may be renewed on discretion of the Management. Selected candidates will be offered compensation package and other benefits as per Bank’s Policy / rules.
Apply within 10 working days from the date of this job posting.
Applications received after due date will not be considered in any case. No TA / DA will be admissible for interview.
National Bank of Pakistan is an equal opportunity employer and welcomes applications from all qualified individuals, regardless of gender, religion, or disability.