IDB2259 - Islamic Finance Specialist

Business Unit: Country Programs Complex
Division: Not Applicable
Department: Islamic Financial Sector Development
Contract type: Conditional Regular (Indefinite) Employment
Country: Saudi Arabia
Location: Saudi Arabia - Jeddah
Closing date: 10-Mar-2019
Role Purpose:

To develop and structure innovative Islamic Financial products to meet the needs of Islamic Financial industry in the Mcs and non MCs; conducting advanced analysis perform necessary simulation and modelling. The role also requires to:

  • Conduct market analysis- including identifying gaps in Islamic financial products and services, product development and related processes in the industry.
  • Develop and structure innovative Islamic financial products to meet the needs of Islamic Financial industry.
  • Develop sharia compliance framework for the new product

Key Accountabilities (not exhaustive list):

Operational Planning

  • Provide input in development of annual plan and budget allocation for the division/ department.

Product Development 

  • Undertake surveys of the Islamic financial industry and conventional financing as part of the development process of new IFPs and instruments. 
  • Assess the existing IFPs and instruments used in the Islamic Finance Industry for their continuous performance monitoring and improvement. 
  • Develop new IFPs such as new types of Sukuks, for Member Countries, Islamic financial institutions, and other private sector entities, structured finance, liquidity management, hedging, etc. 
  • Conduct post-implementation assessments of new IFPs developed by the Islamic Finance Product Development Unit by the industry participants 
  • Collaborate with the IDB’s internal product development team in the Financial Policies, Planning and Analytics team for their development of new funding and financing products for IDB. 

Promotion 

  • Contribute to policy dialogue in coordination with member countries for development of the Islamic Finance, promoting intra-regional Islamic financial integration in coordination of the concerned departments.
  • Contribute to training programs on Islamic Economics, Banking and Finance.

Knowledge sharing & Innovation

  • Contribute to promoting the role and efforts of the Islamic Infrastructure institutions for overall development of Islamic Finance.
  • Provide advice and technical services to peers and colleagues, divisions and departments in  Islamic Finance related issues.
JOB REQUIREMENTS:
Academic qualifications
  • Bachelor’s degree in Finance/Islamic Finance/Sharia or related field.

Required languages

  • English (mandatory)
  • French (preferred)
  • Arabic (preferred)

Minimum number of years and nature of experience

• 7 years of experience in Islamic finance advisory/product development, 3 of which should be in a multilateral development bank.

OR
• 5+ years of experience in Islamic Finance Services 3 of which should be in a multilateral development bank.

Job specific competencies

  • Advance Islamic finance Advisory and Technical Assistance/product development/ knowledge.
  • Advanced Islamic Finance/product development/Sharia knowledge.
Location: Jeddah, Head Office
Travel requirements: 20% or more depending on requirements 

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