Finance Manager - Islamic Banking

About Wio

Role Overview

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 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.