Shariah Compliance Officer - Kenya at Inkomoko

Inkomoko

Position: Shariah Compliance Officer - Kenya

Job Time: Full-Time

Job Type: Permanent

Place of Work: Nairobi - Kenya

Posted date: 2 months ago

Deadline: Submition date is over

About the Company

Inkomoko supports entrepreneurs to grow their businesses to improve livelihoods, create jobs, and help communities thrive.

Founded in 2012, Inkomoko has worked with more than 60,000 entrepreneurs across East Africa, including thousands of refugee entrepreneurs. Inkomoko provides a combination of training, consulting, access to finance, and market-level systems change. We are the largest lender to refugee entrepreneurs in Africa.

Inkomoko has 400+ staff in 20 offices across Rwanda, Kenya, and Ethiopia, and is expanding in 2023 into South Sudan. Through Inkomoko’s 2030 strategic plan, we are adding 4 additional countries to serve more than 550,000 entrepreneurs and growing our $30M loan fund.

Company Values

All staff at Inkomoko are connected to a shared set of organizational values:

• Purpose: be solutions-oriented, produce high-quality work, and be a global leader.
• Achievement: push yourself to reach beyond what you previously thought possible.
• Improvement: be humble, and engage in continuous growth through open & accurate feedback.
• Bravery: willing to take risks, create a safe space for others, and be compassionate, and inclusive.
• We Eat Goat: we celebrate success and support each other in hard times. We do this work together in the spirit of turikumwe, tuko pamoja, abren nen, urang babarengan.

Inkomoko reflects the communities we serve. Displaced persons and women are strongly encouraged to apply.

About the Opportunity

We are looking for a motivated and experienced Shariah Officer (SO) to join our team! You will be responsible for ensuring compliance with Islamic principles in investment activities and operations in the organization.

You will play a key role in advising on the Shariah-compliance of products, services, and investments, and guide the organization to ensure adherence to Shariah laws and regulations. The following responsibilities and qualifications are typically associated with Shariah Officer.

Responsibilities

• Shariah Compliance: Monitor and ensure that all financial activities of the organization are in line with Shariah principles and guidance.
• Risk assessment: Conduct periodic reviews and audits to identify potential risks and non-compliance with Shariah principles and regulations.
• Product Development: Provide advice and input on the development of Shariah-compliant products, services, and investment activities.
• Research: Stay updated with current developments and trends in Islamic finance and Shariah-compliant practices.
• Documentation and reporting: Prepare reports, and documentation, and ensure proper record-keeping to demonstrate the organization’s adherence to Shariah Compliance.
• Shariah Audit: Coordinate and facilitate internal and external Shariah audits to assess the organization’s compliance with Shariah requirements.
• Training and Education: Conduct training sessions and workshops to educate employees and stakeholders on Shariah principles and Islamic Finance.

Minimum Qualifications

The ideal candidate will fulfill the following requirements:

• Minimum of a Bachelor’s Degree in a related field
• A minimum of 4 years of experience in Islamic Finance.
• Understand all Shariah finance contracts and execution
• Excellent communication skills, both verbal and written in English & Swahili. Local language is an added advantage.
• Understanding micro-businesses, loans, and savings products will be an addition.
• Strong understanding of Islamic finance principles and Shariah jurisprudence, with the ability to interpret and apply them in the organization’s activities.
• Professional Qualifications. Relevant certificates or qualifications in Islamic finance, Shariah compliance or related fields would be an advantage.
• Excellent computer skills, especially with MS Excel and Word
• Strong interpersonal skills.
• Strong presentation and organizational skills
• Ability to work well in a team environment and in a fast-paced environment
• Critical-thinker and problem-solver
• Shows perseverance, personal integrity, and critical thinking skills

What You'll Get

This role is a tremendous opportunity to work in a high-growth, mission-driven organization. Our compensation includes both a great culture and a competitive market-based package, including:

• Incredible company culture, including deep investment in your learning and growth, and a commitment to inclusion and diversity
• Opportunity to work with a talented, passionate, and committed team of professionals across the region
• Ability to make a significant social impact and contribute to economic growth
• Competitive salary, and potential KPI-based bonus
• Favorable policies like health insurance, staff savings program, parental leave, sabbatical program, and more.