Head of Internal Audit

Job description / Role

Objectives:
• Planning and execution of Internal Audit activity and assurance of Compliance with regulatory requirements and organization’s policies and procedures.

Main responsibilities:
• To conduct risk assessment of all key activities of the company, identify controls in place to mitigate risks and determine the audit priorities
• Development of a risk based audit plan on a yearly basis detailing the scope, nature and timing of audit activities for approval of Audit Committee
• Examine and evaluate the adequacy, effectiveness and efficiency of the organization’s internal control systems and procedures
• Identification of risk posing control gaps, recommendation of appropriate controls to mitigate the risks and corrective actions to enhance controls keeping in view the additional cost and operational efficiencies.
• Designing internal audit procedures and work programs for areas as per approved audit plan and performing audit procedures focusing audit objectives.
• Document the audit work in accordance with applicable standards and Guidelines of Audit Manual of the company and obtain appropriate and adequate evidence
• Discuss audit findings and recommendations with management and document the response
• Preparation of audit reports detailing the objective, scope, procedures performed, significant findings and management response and the audit opinion
• Monitor the timely implementation of the management actions recommended in the audit reports.
• Review the accuracy, timeliness and relevance of financial information and other disclosures provided to management.
• Advise management on the resourcing requirements for the Internal Audit function, including any potential outsourcing arrangements for specialized audits
• Contributes, as appropriate, in the year-end financial audit with the external auditor
• Conduct ad-hoc investigations/ reviews as requested by Audit Committee or management

Manage Cyber Security to:
• Ensure that appropriate Cyber Security controls are available to secure the system from unauthorized access;
• Select the appropriate Cyber Security controls that should be evaluated and decided in conjunction with the Cyber Security Manager;
• Identify data to be backed up and the IT Head should approve it.
• Ensure that adequate and approved procedures are in place for the data backup.
• Provide at least one personnel who will coordinate with the Cyber Security team for creating/maintaining the system procedures with in their department and also take part in the incident response process.
• Be the owner of the procedures developed for the systems within the department.
• Perform continual monitoring of the Cyber Security processes;
• Perform substantive test work reviewing compliance with SOLC’s Cyber Security policies and standards;
• Perform regular reviews to determine that Cyber Security policies and procedures are implemented into the production environments and that deviations from the policies are accurately documented and approved;
• Perform review of Cyber Security monitoring processes to determine that violations are identified, reported to management, and escalation procedures are in place;
• Review the Cyber Security administration process to determine that controls exist over the creation, modification, and deletion of new user accounts; and
• Review the business continuity plans and the physical protection design to determine that controls are in place to protect information assets from system outages.
• Responsible for monitoring fraud in the work and shall report any suspicious cases of fraud immediately by using the suspicion form attached in the Circular send by the Compliance Department on 10-Apr-2018.
• Reporting to: Audit Committee
• Number required: 1
• Probation: 90 days
• Working Hours: Sun - Thursday 8 AM to 4:30 PM
• Other Benefits: Ramadan Basic Salary

Requirements

University Qualifications:
• Bachelor Degree Finance / Accountant

Nature and length of previous experience:
• + 8 Years of Experience relevant field, Chartered Accountant 3 Years’ Experience.

Specialist knowledge:
• IT MS Office (Word, PowerPoint, advanced Excel).
• Expertise in the functioning of a financial institution.
• Expertise in internal audit, risk and control functions.
• Excellent writing, communications and presentation skills.

Soft Skills and Personality traits:
• Networking / Relationship Building.
• Decision Making.
• Stewardship of Resources.
• Visioning & Strategic thinking.
• Impact & Influence.
• Developing others.
• Integrity
• Gender Preference: male
• Nationality Preference: Saudi
• Language Fluency: Arabic , English
• Current Location: Saudi Arabia

About the Company

YANAL is a Leading Finance Company in the Kingdom of Saudi Arabia.

We offer one of the best and most-competitive financial services with our superior market knowledge and unmatched financial services expertise. Moreover, YANAL is backed by some of the most reputable local and international partners.