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Head of Internal Audit
Job Description :Directs the development and oversees the implementation of Audit and Compliance functional policies, systems, processes, procedures and controls covering all areas of Audit and Compliance functions so that all relevant procedural/legislative requirements are fulfilled. Audit and Compliance functional policies, systems, processes and procedures are documented, approved, in place, communicated and implemented and periodically reviewed. Compliance with procedural and legislative requirements. Plans and organizes the activities of Internal Audit including preparing an annual audit plan based on Risk Based Internal Audit (RBIA) principles, and schedules and assigns work to meet completion dates. Ensures preparing timely and complete reports to the CEO, highlighting areas of concern and proposing remedial steps where appropriate, and proposing urgent action when needed. Maintains and updates the audit program/checklist to ensure key controls are properly tested. Promotes risk management principles within the organisation to ensure key risks identified and treated. Confer, advice, initiate, and coordinate with other departments about policies and procedures to ensure internal controls are strengthen within the organisation. Assures follow up of audit findings to ensure adequacy and timeliness of correction. Reviews compliance with applicable regulatory guidelines issued by Saudi Arabian Monetary Agency (SAMA) and other regulatory bodies to ensure all regulatory requirements are implemented. Participates in projects that are related regulatory compliance to ensure all regulatory requirements are properly implemented. Monitors key operational risk events and assists management in lowering operational risks. Monitors the performance of the compliance program and related activities on a continuing basis, taking appropriate steps to improve its effectiveness. Ensures responding to suspected violations of rules, regulations, policies, procedures and standards of conduct by evaluating or recommending the initiation of investigative procedure as well as developing and overseeing a system for handling such violations. Ensures that all functional reports of Audit & Compliance are completed timely and comply with the principles of corporate governance and company's policies and standards.