Finance Manager - Islamic Banking

About This Role

About Wio Wio Bank is a leading one-of-a-kind financial platform that is revolutionizing the banking industry in the MENA region. Our platform is here to reboot personal and business banking in the digital age. Our personalised features and seamlessly integrated services are built around your needs, helping you spend, save, and plan for your future.

Role Overview The Islamic Finance Manager is the designated finance authority responsible for the financial integrity, segregation, regulatory reporting, liquidity support, and Sharia aligned financial management of the Islamic Window.

The role supports the CFO and Senior Management by ensuring that all Islamic Window financial activities are conducted in full compliance with CBUAE regulations, Higher Sharia Authority resolutions, approved Sharia rulings, and internal governance frameworks, and are clearly segregated from conventional operations

What You'll Be Responsible For

• Islamic Window Financial Ownership and Reporting

(i) Act as the primary finance owner for Islamic Window financial records, reporting, and disclosures.

(ii) Oversee preparation, review, and validation of separate Islamic Window financial statements, MIS, and management reports in accordance with IFRS and applicable AAOIFI standards.

(iii) Certify the accuracy and completeness of Islamic Window financial submissions to Senior Management, the Board, and regulators.

• Financial Segregation and General Ledger Governance

(i) Ensure full segregation of Islamic Window assets, liabilities, income, expenses, reserves, and equity from conventional operations.

(ii) Own and maintain the Islamic Window general ledger structure, including product level mapping and posting logic.

(iii) Oversee transparent and regulator-defensible allocation of shared services and internal costs to the Islamic Window.

(iv) Maintain documentation evidencing segregation for audit and CBUAE supervisory review.

• Islamic Asset and Liability Management and Liquidity Interface

(i) Coordinate with Treasury and Risk to support Islamic Window asset and liability management, funding structures, and liquidity planning.

(ii) Oversee preparation and review of Islamic Window liquidity metrics including LCR, NSFR, and ELAR (as applicable).

(iii) Support monitoring of Islamic funding flows, investment pools, and liquidity buffers in line with CBUAE requirements.

• Profit Attribution, Investment Pools and Equalisation

(i) Oversee financial mechanics relating to:

• profit attribution and distribution,
• Islamic investment pool performance,
• displaced commercial risk assessment,
• profit equalisation mechanisms including PER and IRR, where applicable.

(ii) Ensure profit allocation and distribution are applied strictly in accordance with approved Sharia structures, disclosures, and governance approvals.

• Sharia Governance and Compliance Interface
• Act as the finance focal point for coordination with:
• Internal Sharia Supervision Committee (ISSC),
• Internal Sharia Control Department (ISCD),
• Internal Sharia Audit (ISAD).

(ii) Ensure appropriate financial treatment of Sharia non-compliance, including:

• identification and quantification of non-permissible income,
• charity, donation, and purification accounting,
• maintenance of audit trails and supporting documentation.

(iii) Provide financial inputs to the Annual Sharia Report and periodic Sharia compliance reporting.

• Regulatory Reporting and Audit Management
• Ensure compliance with all CBUAE Islamic Window regulatory reporting requirements, including the Islamic Bank Return Form (iBRF).

(ii) Act as the primary finance liaison for:

• CBUAE examinations relating to Islamic Window finance,
• external auditors,
• internal audit reviews covering Islamic activities.

(iii) Ensure timely remediation of audit findings and supervisory observations relating to Islamic Window financial matters.

• Risk Management and Financial Controls
• Identify, monitor, and report financial, operational, and Sharia-related risks arising from Islamic products and structures.

(ii) Support stress testing, provisioning, and scenario analysis for Islamic portfolios and investment pools.

(iii) Maintain robust internal financial controls specific to Islamic Window operations.

• Stakeholder Coordination and Capability Building
• Serve as a key coordination point between Finance, Treasury, Risk, Compliance, Business, and Sharia functions.

(ii) Support the CFO and Senior Management in Board, ISSC, and regulatory presentations relating to Islamic Window financial matters.

(iii) Provide guidance and training to internal teams on Islamic finance financial mechanics and regulatory expectations

What Are We Looking For

• Bachelor’s degree in Finance, Accounting, Economics, or a related discipline.
• Professional qualification preferred (CPA, ACCA, CA, CFA).
• Islamic finance certification (e.g. CSAA, CIMA Islamic Finance) strongly preferred.
• Minimum 7–10 years of finance experience, with at least 4–5 years in Islamic banking or Islamic Window operations
• Demonstrated experience with Islamic finance products, Sharia governance frameworks, financial segregation, and regulatory interaction

Regulatory Positioning

• The role functions as the designated finance authority for the Islamic Window, operating under the CFO.
• Overall business accountability for Islamic Window activities remains with the Head of Islamic Window, while this role owns financial integrity, segregation, liquidity support, and reporting.