The Role
The Role
Compliance Role:
Well-versed with all the laws applicable to the financial services industry and the operations of the Company
• Update on all developments and new legal pronouncements and communicate to the Board/senior management its impact, implications and recommend any changes in the policies, responsibilities and compliance requirements
• Developing a suitable time schedule and check list for compliance requirements as required by all functionaries to facilitate completion of their tasks with respect to compliance
• Verification of all statutory submissions to the authorities to ensure their accuracy and adherence to the required guidelines
• High! light an y shortcomings, lacuna and inadequacy in the compliance of any of the legal provisions and suggest remedial action; Follow--up with concerned departments to ensure that the remedial actions have been taken
• Review the systems and procedures prevalent for ensuring compliance by various departments and highlight the drawbacks and difficulties in conforming to the requirements, if any; Present recommendations for overcoming such difficulties
• Constant efforts for improvements in compliance
• Strong communication and interaction with all functions is vital
Quality Assurance
• Develop an annual internal quality programme covering all functions; Details include areas of financial reporting, methods and approach and time schedule for completion of tasks
• Quality programmes should cover routine quality and surprise checks
• Quality programmes to ensure and facilitate the protection of the property, assets and rights belonging to the company as well as those for which the company is responsible
• Obtain the quality programme approved by the top management; Present a schedule for performance of special audit assignments and investigations as advised by the management
• Present and discuss with the management periodic quality assurance report and the findings and recommendations arising from the report
• Well-versed with all the laws applicable to the security industry and the operations of the Company
• Periodic review of systems and controls prevalent for performance of various tasks and highlight shortcomings and drawbacks in systems and controls; Recommend improvements in the systems and controls
• Performing efficient audit and suggesting improvements in the procedures, methods and systems & controls that can facilitate cost savings, improvement in efficiency and overall better performance
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Requirements
Requirements
Authority:
Exercise authority to ensure compliance with the various provisions of the regulatory framework
• Obtain the forms, returns, declarations and other submissions from the various functions as required by law
• Submission of various returns, forms, reports, etc. as required by the statutory authorities
• Receive additional information, explanations and clarifications from the concerned functions for the various queries arising from internal audit
• Report to the Board non-compliances on any statutory matter by any function
Qualifications:
Basic degree in accounting/finance and corporate law with emphasis on regulatory issues legal matters, regulatory issues and ! internal audit
• Qualifying under special programmes for training or certification from the regulatory authority such as Tadawul, CMA or the Central Bank
Experience:
About 5 years experience in quality assurance, statutory compliance and company secretarial areas in a financial institution
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About the Company
About the Company
Arab Experts Consulting Center - AECOC, is a Saudi financial consultancy firm established in 2004, our head office is located at Dammam, Eastern Province K.S.A, along with our branches in Riyadh, K.S.A and Manama, Kingdom of Bahrain. AECOC's structure is based on a group of professionals who have united together to create innovative financial solutions to spin them into profitable investments. Additionally, we provide value added consulting services for business management.
AECOC has selected alliance partners worldwide, who are the best solutions and services providing companies in the world. Our aim is to continue to develop industry and technology-leading solutions with our alliances to provide value added solutions and services to our clients.
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