Mortgage Servicing Specialist Sharia Lending – for Saudi Nationals/Residents solely – AVANA Capital

This place is for KSA residents solely.

Mission:

The mission of the Mortgage Servicing Specialist in Sharia lending is to facilitate monetary transactions and companies in accordance with the rules of Islamic finance whereas guaranteeing distinctive service and compliance with regulatory requirements. By means of diligent management of borrower accounts, meticulous adherence to Sharia rules, and proactive risk management, make sure the monetary well-being of our purchasers whereas safeguarding the pursuits of all stakeholders.

Core Competencies:

• Consideration to Element
• Enterprise Wants Evaluation
• Drawback Fixing

Key Efficiency Indicators:

• Accuracy and completeness of mortgage paperwork and contracts.
• Compliance with related regulatory necessities and pointers.
• Frequency of errors or discrepancies in mortgage servicing actions.
• Share of overdue funds or accounts in arrears.
• Common time taken to deal with shopper inquiries or issues.

Obligations:

• Deep understanding of Sharia rules and Islamic finance ideas is important. This contains data of Islamic law (Sharia), notably because it pertains to monetary transactions, curiosity (riba) prohibition, and risk-sharing rules.
• Ensures that each one mortgage servicing actions adjust to Sharia rules and pointers set forth by related regulatory our bodies and Sharia supervisory boards. This contains reviewing mortgage agreements, processes, and practices to make sure adherence to Islamic finance rules.
• Opinions and drafts mortgage paperwork and contracts to make sure they adjust to Sharia rules. This contains structuring financing agreements which might be free from curiosity (riba), hypothesis (gharar), and uncertainty (maysir).
• Manages the processing of funds, together with principal and revenue distributions, in accordance with Sharia-compliant financing agreements. This includes calculating and verifying cost quantities based mostly on the agreed-upon profit-sharing or profit-margin construction.
• Oversees borrower accounts and maintains correct information of transactions, funds, and balances. This contains monitoring account exercise and speaking with debtors relating to cost schedules and obligations.
• Manages delinquent accounts and implements procedures for dealing with defaults in compliance with Sharia rules. This includes negotiating compensation plans, restructuring financing agreements, or pursuing legal cures throughout the framework of Islamic law.
• Generates stories and conducts common audits to make sure compliance with Sharia rules and regulatory necessities. This contains monitoring key efficiency indicators and figuring out areas for enchancment in mortgage servicing processes.
• Identifies and mitigates dangers related to Sharia-compliant mortgage servicing, together with credit score risk, operational risk, and compliance risk. This includes implementing sturdy risk management processes and controls to safeguard the integrity of Sharia-compliant financing operations.
• Stays knowledgeable about developments and traits in Islamic finance and constantly seeks alternatives to reinforce mortgage servicing operations and practices. This will contain benchmarking in opposition to trade greatest practices and implementing course of enhancements to optimize effectivity and effectiveness.