Job description / Role
• Contribute as a member of the senior management team to the overall management and direction of the group, to ensure that clear short, medium and longer term goals and objectives are established, communicated and achieved to optimise business results and returns to stakeholders
• Develop and gain agreement to the strategy for the Internal Audit function in the context of the overall business strategy, communicate and oversee implementation of this to ensure strategic alignment of the function with the business.
Policies, Processes & Procedures
• Oversee the development and implementation of policies, procedures and controls covering all areas of internal audit so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective service to customers
• Oversee the consolidation and recommend the internal audit budget and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues, areas of unsatisfactory performance are identified and potential areas of cost reduction or performance improvement opportunities are capitalised upon
• Audit Manual
• Lead and guide the development, review, implementation and effective maintenance of the Internal Audit manual while providing direction for all Internal Audit activities across Alrashed’s group
Annual Internal Audit Plan
• Develop and seek approval for the annual internal audit plan ensuring alignment of all business units to promote achievement of the Group’s business strategy
• Ensure effective implementation of approved plans across business units within set timelines to facilitate achievement of financial and operational objectives
Audit System / Process Review
• Manage and review the audit process and its implementation within by delivering a comprehensive, ongoing risk-assessment process for the - to assess the effectiveness of operational, and financial control mechanisms
• Lead the review of - internal processes and ensure compliance with relevant laws and regulations while recommending enhancements to standard operating procedures to enhance internal controls and mitigate the risk
• Lead and guide the reviews on financial, administrative, performance, and operational effectiveness and ensure prompt highlighting of critical non-conformances to the senior management for prompt action in order to achieve target levels of efficiencies
• Lead and oversee the development of audit programmes to detail the various steps for conducting audits
• Direct, lead and guide the audit team to accomplish audit programs in accordance with the applicable guidelines and standards
• Direct auditors to conduct quarterly audit field work in order to ensure the audit programmes are conducted in line with audit plans
• Lead the review of financial reports and budget utilisation from a legal and financial perspective and ensure timely updating of the senior management to facilitate strategic decision making
• Conduct special investigations and reviews as requested by Audit Committee; identifies problematic areas, and directs the preparation of reports on audit findings and corrective action recommendations
• Ensure effective monitoring of progress on corrective action plans recommended to ensure timely completion of tasks as per schedule.
• Manage the effective achievement of departmental objectives through the leadership of the Internal Audit – setting individual objectives, recruiting qualified staff, managing performance, developing and motivating staff, provision of formal and informal feedback and appraisal – in order to maximise subordinate and departmental performance
• Lead and direct the management of change through continuous improvement of departmental systems, processes and practices taking into account ‘international best practice’, changes in international standards and changes in the business environment which demand proactive action plans
• Ensure that all Internal Audit’s reports are prepared timely and accurately and meet company and department requirements, policies and standards
• Perform other related duties or assignments as directed
SAR 25,000 to 30,000 per month inclusive of fixed allowances.
• Bachelor’s degree in a financial or accounting discipline.
• Fully qualified accounting professional (CPA or equivalent).
• 12-15 years relevant post qualification experience including at least 8 years in positions of progressively increasing managerial responsibilities
• Expert knowledge of government rules and regulations, industry best practice.
• Advanced report writing
• Advanced data analysis
• Advanced project management
• Expert knowledge in business process architecture
About the Company
Rashed Abdul Rahman AlRashed & Sons Group is a dynamic, leading conglomerate in Saudi Arabia. For more than five decades the group has been instrumental in the development of the Saudi Arabian infrastructure. Today it continues to contribute to the growth and prosperity of the Saudi Arabian nation.
Large scale investments are made in developing land and property through our Real Estate Sector and many business partnerships are initiated with global companies via our Investment Sector.
The group operates in seven Business Areas, namely Building Materials, Cement & Bulk Materials, Finishing Materials, Contracting, Industrial Products, Automotive Products, and Food Products.
The group prides itself not only in delivering products and services of the highest quality and standards, but also ensures the utmost integrity with everyone that we deal with.