Compliance Officer

Job description / Role

The Compliance Officer will be responsible to assist Group Compliance Manager in devising an internal control framework for addressing compliance and regulatory risk pertaining to our Group Entities (consisting of eighteen entities) in the eastern, central and western regions. He will be responsible to perform compliance tasks allocated to him by the Group Compliance Manager detailed as below:

Zakat and Tax:
- Timely submission of Zakat/Tax Returns, Withholding Tax Returns and Contract Information Filings;
- Following-up on Zakat/Tax certificates and ensuring the availability of valid final Zakat/Tax certificates;
- Coordination with Zakat/Tax advisors in responding to all Zakat/Tax related queries, assessments and appeals;
- Coordination with Zakat/Tax advisors for online registrations and updating the files with the DZIT;
- Monthly reconciliations of foreign purchases in books of the company with Customs records;
- Monthly reconciliations of salaries and wages in books of the company with GOSI;
- Identification of avenues for Zakat/Tax planning and savings.

Audit:
- Liaise between External Auditors and Finance function for audit planning and issue instructions accordingly;
- Ensure statutory consolidation at Group level is carried out and all Group statutory financial statements are prepared in a consistent manner;
- Ensure audit information is provided to auditors on timely basis;
- Timely update on progress of external audits and liaise between Group entities on audit requirements;
- Timely resolution of all audit issues and adequate documentation of such issues so as to incorporate in future planning of audits;
- Review of financial statements to ensure accuracy of information contained therein;
- Undertake IFRS Convergence project for all Group entities;
- Audit of Arabic books and records.

Insurance:
- Ensure adequate insurance cover of all assets of Group entities;
- Ensure consistency and reasonableness of insurance policies across all Group entities;
- Timely communication of change in insurance values of Group entities to insurance advisors;
- Handling insurance claims;
- Advise finance personnel of Group entities for timely processing of all outstanding premiums and maintain summary of insurance invoices.

MOCI:
- Follow-up on timely submission of audited financial statements of Group entities to Ministry of Commerce;
- Ensuring that MOCI regulations relating to Arabic records are complied with.

Others:
- Prepare inter-company cost sharing agreements and ensure strict compliance;
- Ensuring that inter-company balances are fully reconciled and settled on a monthly basis;
- Maintenance of complete and updated information relating to Commercial Registration (CR) of all Group entities;
- Maintenance of updated Articles of Association (AOA) along with all amendments relating to all Group entities;
- Oversee the process of records archiving across all Group entities.

Requirements

- The candidate should have an Accounting background with experiance not less that two years.
- He should be versed in Arabic and English languages.
- Preference to the Saudi Nationality.

Current Location: Dammam
Nationality Preference: Saudi National
Gender Preference: Male
Age Range: Any

About the Company

Ali Zaid Al-Quraishi & Brothers Co Ltd. (AZAQ) was founded in 1958 as a family owned diversified company. Today, with more than 4,500 employees on its payroll, prolific market activities all over the Kingdom, and long established associations with a several world-class brands and international corporations, AZAQ is a leading business group in the region.

The Group today is firmly based in the marketing and distribution field, representing top brand names in leisure goods, household products, watches, office furniture, telecommunications, electronics, electrical equipment and motor vehicles. It is also involved in manufacturing of electrical products and transformers and switchgears.