Internal Audit Manager

Job Description

Job Summary:

Internal Audit Manager verifies organizational procedures against best practices, regulations, and company policies through a systematic program of audits. This role interacts with administrative and enforcement agencies; monitors systems and solves problems to manage risk.

Key Responsibilities:

• Audit Planning

o Prepare internal audit plan for review and approval of management

o Ensure all the relevant departments and processes are covered in the internal audit plan

o Research and understand upcoming standards, best practices and regulatory requirements to support audit process

· Internal Process Audits

o Schedule and plan audits; initiates project planning, assess risk and develops audit direction

o Prepare and maintain standard templates and checklists to collect information required to serve the purpose of audits

o Coordinate with other departments to gather sufficient information

o Evaluate the internal processes to identify deviations from policies and best practices

o Evaluate the reliability and integrity of information and the means used to identify, measure, classify, and report such information

o Evaluate the effectiveness and efficiency with which resources are employed

o Evaluate the means of safeguarding assets and, as appropriate, verifying the existence of such assets

o Evaluate operations or programs to ascertain whether results are consistent with established objectives and goals and whether the operations or programs are being carried out as planned

• Risk Management

o Analyse the risks of identified gaps / non-compliances and lay out possible consequences for understanding of management

o Monitor and evaluate the effectiveness of organization’s risk management processes

o Support management to mitigate risks by proposing solutions and best practices

• Advisory services

o Assess the adequacy of the actions taken by management to correct reported deficient conditions and evaluate outcomes

o Perform consulting and advisory services related to governance, risk management and control as appropriate for the organization

o Evaluating specific operations and conducting special examinations at the request of the Board of director or management, as appropriate

• Evaluate Governance

o Monitor and evaluate existing governance processes

o Identify gaps and recommend best practices to strengthen process governance

• Ensue Regulatory Compliance

o Identify gaps in compliance with Government labour and Commercial Companies laws and regulations

o Assess the impact of non-compliance and advise management

• Analysis and Reporting

o Report periodically on the internal audit activity’s purpose, authority, responsibility, and performance relative to its plan

o Report significant risk exposures and control issues, including fraud risks, governance issues, and other matters needed or requested by the Board of director

o Report findings, conclusions, and recommendations promptly to the Managers who have the operational responsibility for the department to take corrective action

• Outsource and Manage Technical Audits

o Identify external auditor, plan and manage the audit of IT operations and Project Management operations to ensure required technical evaluations are done effectively. Evaluate the performance of external audit and support management to draw conclusions

• Coordinate and Assess External Audits

o Coordinate, as appropriate, in annual financial audit and other audits with external auditors

o Evaluating the quality of performance of external auditors and the degree of coordination with internal audit

Education

˗ Bachelor’s degree or higher in Business and Finance

˗ CA/CMA/CPA degree is preferred

˗ Certified Internal Auditor is preferred

Work Requirements

˗ Should have citizenship or a work permit in Saudi Arabia

˗ Verbal and written language proficiency in Arabic and English