Senior Manager - Financial Services Advisory
Ernst & Young Middle East
مجموع سنوات الخبرة :23 years, 5 أشهر
Part of the financial services advisory team, providing advisory services to Islamic and conventional financial institutions with key areas of expertise including:
Corporate governance, risk and compliance
Developing Islamic baking products for retail, SME and corporate banking clients
Developing effective operational and governance framework for Islamic retail, corporate and investment banks
Assisting Islamic banks in evaluation and implementation of technology solutions
Conducting trainings on Islamic banking products and principles governing Islamic finance
Regulatory review and assistance in developing regulatory framework for Islamic baking business
Credit Administration and Credit Risk Management
Target operating model design and its operational implementation support for Islamic banks
Developing feasibility studies and business plans for Islamic commercial and investment banks
Providing continuous support to global EY teams on projects relating to Islamic banking products and services
Led the Islamic financial services advisory business for Oman, focusing on financial institutions offering Islamic financial services. Some of the key engagements included:
Part of the core team that developed the Islamic Banking Regulatory Framework for Central Bank of Oman
Part of the core team that developed the framework for Shari’a compliance certification of Core Banking Systems
Led the development of operational framework and products for the first full-fledged Islamic bank and the first Islamic banking window in Oman.
Developed Islamic corporate financing products and retail banking based on Islamic contracts of Murabaha, Ijarah and Istisna’a, for a large commercial bank in KSA, a startup Islamic bank and the first Islamic banking window based out of Oman and several pother Islamic commercial banks in the region.
Assisted a Saudi based conventional bank and Sudan based Islamic bank develop and launch Islamic SME and retail financing products
Worked on a large business transformation project for one of the largest banks in KSA, helping the bank operationalize its strategy by conceptualizing and implementing various initiatives for its corporate, retail and SME business lines.
Assisted a Saudi based bank to develop cross sales operating model for its corporate and SME banking groups, including designing of relevant MIS, revision of processes and its implementation in the Customer Service Module.
Led the first project for system testing and implementation of profit distribution module for an Islamic core banking system in Oman
Have conducted assessments of the corporate governance, risk and compliance frameworks for several financial institutions, recommending enhancements and assisting in implementing those recommendations.
Part of the Islamic banking center of excellence, providing advisory services to Islamic financial institutions with responsibilities including:
• Documentation of Feasibility Studies and Business Plans
• Providing advisory solutions for various operational and strategic issues
• Documentation of Policy and Procedure Manuals
• Documentation of Product Programs for various Islamic financing products
• Designing and Documenting Process Flows for different banking transactions and operations
Some of the key engagements included:
Led the conversion of an existing conventional bank into an Islamic commercial bank. This entailed establishment of the corporate governance framework, the complete operational framework, the product conversion blueprint and the product programs and training the bank’s team on Islamic banking principles and products
Assisted an investment group in Canada in developing the business plan and feasibility analysis for the first Islamic bank in Canada and also assisted the investors in presenting the Islamic banking products and the target operating model to the Canadian regulators
Assisted a Libyan retail bank in establishing its Islamic banking division. The assignment included training of the staff, development of product programs and documenting associated Shari’a guidelines
Provided end to end services (ranging from feasibility to product development, system implementation and product launch) to a leading Bahraini Islamic bank, in developing and launching vehicle, home and personal finance products
Developed product programs (both assets and liabilities products) and profit distribution models for Islamic Banks and Islamic banking windows of conventional banks in the GCC.
Reported directly to the Group Head of Credit and Risk Management, with responsibilities including:
• Leading a team of Credit Administration Officers and Credit Analysts
• Assisting the Group Head in development of the bank's credit policy in line with the statutory requirements and banking practices.
• Enlistment/ de listing of Muccadams (independent agency hired by the Bank to ensure safety of pledged goods), Surveyors, Evaluators for assisting the Bank in its operations.
• Conducting pre disbursement review for authorizing each disbursement, in order to ensure compliance of internal credit policy as well as statutory requirements of the central bank.
• Preparation and execution of all credit documents as per approved policy manuals for each type of Islamic financing products.
• Centralized monitoring of the expiring insurance for assets held as collateral and finances approaching maturity.
• Defining the Accounting Entries Set up for each new Islamic Banking Product in consultation with the Head of Product Development and the Head of Financial Control.
• Providing guidance on Credit Related issues to the Manager Credits of the Bank’s branches.
Special Assignment:
As Team Leader for SYMBOLS Customer Lending Module implementation team was responsible for the testing, gapping, customizing and implementation of Customer Lending Module of SYMBOLS (A Core Banking System of Singapore origin) which was implemented in an Islamic bank for the first time in Pakistan and providing related technical training to the new entrants of the credit team.
Reported to the Branch Manager and was responsible for managing a sizeable portfolio of Shari’a Compliant financing products. Main responsibilities included:
• Managing a team of three credit officers
• Processing and monitoring of daily credit transactions.
• Preparation and completion of security documentation as per formats approved by Legal and Shariah Advisor.
• Liaison with other banks in consortium, where MCB has entered into a consortium for providing financing facilities to the customer.
• Processing and monitoring of both legs of Islamic Export Refinance Scheme (IERS) of State Bank of Pakistan.
• Keeping record and handling the Safe Custody of securities and related documents.
• Providing advise to other Islamic Banking branches of MCB on operational issues of credits.
• Handling periodical reports to Head Office and Central Bank (e.g., CIF. etc.)
Reporting to the divisional head and responsible for resolving issues relating to Management/ Compliance of internal and external Credit Policy, Procedures and Systems, relating to recognition, quantification and monitoring of credit risk exposures among the corporate and commercial branches.
Core Functions
Provide Administrative and Technical Support to Corporate & Commercial Banking Groups on matters of security, documentation, Limits Control and Safekeeping and all related support functions,
• Assisting the Head of Credit Administration in redesigning of operational manual for Credit Administration.
• Monitoring of MIS Reports generated by the Credit Administration Officers (CAO’s) stationed at various Corporate and Commercial branches and circle offices, throughout Pakistan.
Additional Assignments:
• Monitoring of MCB Trade Services Centers and related matters covering 97% of the bank’s exposure.
• Monitoring of Currency Management:
o Daily - CIH and Balances with NBP of 31 Cash Feeding Branches & 3 Cash Houses
o Weekly - CIH, Balances with NBP, Remittances in Transit and Balances of Prize Bind on hand.
o ATM Cash Management and its monitoring on weekly basis.
o Cash arrangement (Fresh & Reissuable) from State Bank of Pakistan.
• Monitoring of CIT Service Providing Companies, with respect to:
o Billing, Services, Rates and Mishaps.
• Coordination with TROPS to resolve day to day issues.
· Assisting the Head of Operations in redesigning of operational manual for Credit Administration.
· Monitoring of MIS Reports generated by the CAO’s stationed at various Corporate and Commercial branches and circle offices.
· Providing periodic repots and Feed Back to the Corporate and Commercial Circles regarding the outstanding/ resolved position of irregularities/ discrepancies in the accounts of their respective circles.
· Providing guidance and responding to the queries received from various CAO’s and the corporate & commercial circles, for the execution of the under mentioned assignments of CAO’s.
· Reviewing of Credit Line Proposals.
· Analysis of Financial Statements to confirm adherence to SBP PR’s.
· Ensuring adherence to SBP Prudential Regulations and other internal & external Credit Restrictions.
· Review, Preparation & Completion of documentation relating to credit facilities.
· Preparation of the charge registration documents, where required, and ensuring its timely filling with Registrar Joint Stock Companies and obtaining Searches for the charges already registered.
· Liaison with MCB’s internal Legal Affairs Division as well external Legal Retainer, for their opinion on various property as well as Standard/ Non standard documentation.
· Reviewing Insurance Policies and ensuring timely renewal of expiring policies.
· Reviewing the Drawing Power against Hypothecated as well as Pledged goods and ensuring that the outstanding is adequately secured.
· Conducting Inspections of the Hypothecated as well as Pledged stocks to confirm the actual status of Stock Position and have an idea of the company’s business operations.
· Liaison with the CAD - POK and the Corporate Marketing Platform, regarding the status of the outstanding discrepancies/ documentation shortfalls.
· Monitoring of Accounts with a total portfolio size of more than Rs.25.000 Billion.
Center for Islamic Economics, is a unit of Jamia Dar ul Uloom, Karachi, established under the patronage of Mufti Muhammad Taqi Usmani. The extensive diploma covers the principles and practices of Islamic banking and finance.
ICMAP is one of the very few statutary bodies around the world, invloved in the education and professional training of Management Accountants dedicated towards the cause of documentation of economy through producing Quality Management Accountants. This is a Six Semmester Degree with at least 24 Courses (After Graduation).