Hello Future Islamic Balance Sheet Management Head

Welcome to FNB, the home of the #changeables. We design for the shapeshifters and deliver products and services that make us incredibly proud of people that make it happen.

As part of our team in FNB COMMERCIAL (Islamic Banking) , you will be surrounded by unique talents, diverse minds, and an adaptable environment that lives up to the promise of staying curious. Now’s the time to imagine your potential in a team where experts come together and ignite effective change.

We have the below role within the organisation, the main purpose of the role is to develop and execute tactical treasury plans for Islamic Banking across First Rand (FR) jurisdictions and to provide assurance to the FR Group that prudential and fiduciary compliance matters related to Islamic Banking funding and investment requirements, capital management, and liquidity management are addressed and optimally managed while adhering to Shari’ah principles.

• Execute tactical treasury plans: Develop tactical plans to execute and report against Islamic Banking treasury strategy as approved by FRG Management and Board. This includes; Capital adequacy management – ICAAP, CAR and stress testing, Liquidity management – CR, LAR, LCR, NSFR and liquidity risk appetite, Authorised dealer licence in foreign exchange, National payment system management – RTGS and Swift, SIRESS and CLS
• Manage and monitor treasury operations and investment by maintaining a system of policies and procedures that support appropriate control of Islamic Banking treasury activities across Retail, Commercial, Corporate, and International.
• Continuously monitor and adjust overall capital demand and supply taking into consideration perspectives such as book equity based on IFRS accounting standards, regulatory and economic capital as well as specific capital requirements from the reserve bank and rating agencies.
• Identify, assess, and manage financial risks including market, credit, and operational risks.
• Identify, assess, and manage risks associated with the bank’s balance sheet, including interest rate risk, liquidity risk, and funding risk.
• Implement risk mitigation strategies in accordance with Islamic finance principles.
• Satisfy prudential, governance and risk management requirements for the Islamic Banking treasury function of First Rand.
• Ensure that Islamic Banking Treasury operations are conducted in a Shari’ah Compliant manner and adhere to the approval requirements of the First Rand Shari’ah Advisory Committee.
• Prepare and submit reports to regulatory authorities and the Shariah Advisory Committee.
• Ensure sufficient Shari’ah Compliant profit is available for depositors.
• Manage excess liquidity by deploying funds in a diverse range of Shari’ah Compliant solutions.
• Cater for Tawaruq requirements to enable Islamic unsecured advances.
• Advise management and make appropriate recommendations related to sound capitalisation and investments from an economic and regulatory perspective, using comprehensive short- and long-term scenario plans.
• Monitor and enforce effective control, governance and compliance procedures throughout area of specialisation to prevent and reduce financial wastage.
• Develop cost efficient commodity structures (i.e. Murabaha) required to enable the Islamic Banking business in and across countries (i.e. South Africa and Botswana).
• Oversee funding operations, including the issuance of Islamic bonds (Sukuk) and other Shari’ah compliant financing instruments.
• Build and maintain relationships with key internal and external stakeholders that promote cross delivery process and practice solutions.
• Manage people by executing line manager responsibilities and create an environment that encourages employee growth and performance excellence

• Bachelor's degree in Finance, Accounting, Economics or related field
• Preferred: Post Graduate Chartered Financial Analyst (CFA) or Actuary qualification
• Preferred: Qualified Islamic Finance Practitioner

• 10+ years of treasury experience with a strong background in Islamic finance

• Understanding of Islamic Finance Capital Management
• Comprehensive understanding of Islamic financial instruments and products, derivatives, hedging, investments, bank account management, and international funds flows
• In-depth knowledge of Shariah principles and regulatory requirement
• Understanding of Islamic financial concepts
• Building strategic relationships / networking
• Developing people
• Influence and impact
• Commercial and financial acumen
• Business insight and risk awareness
• Participative leadership
• Problem solving
• Tolerance of ambiguity

10/09/24