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Job Description

To direct independent, efficient, continuous, risk based internal audits and reviews across BIDAYA in order to ensure the establishment of a control and risk management framework within BIDAYA which conform to the standards of the professional practice of internal auditing and the highest level of professional integrity.

· Lead and direct the development of the Internal Audit Department strategy by consolidating different departmental strategies in line with BIDAYA’s strategy to ensure vertical alignment and horizontal integration with other interfacing Department strategies across BIDAYA

· Ensure that Internal Audit Department strategy and related strategic plans are developed and implemented, which are aligned with the vision and mission of BIDAYA

· Oversee the development of Internal Audit Department organization structure in an effort to ensure vertical alignment and horizontal fitment within BIDAYA corporate structure

· Review the consolidation of the Operational budget and recommend changes

· Monitor financial performance versus budget and report unanticipated costs or revenues, areas of unsatisfactory performance, as well as potential areas for cost reduction or performance improvement opportunities to capitalize upon

· Lead and guide internal project teams in the planning, organizing, management and control of various projects in order to ensure that the project cycle is completed meeting agreed project parameters (cost budget, timelines, scope and quality), standards and objectives

· Oversee management of enterprise-wide projects, process re-engineering and quality assurance.

· Ensure establishing a practical budget, work schedule, performance evaluation and variance criteria for each scheduled audit assignment

· Execute audit planning for BIDAYA in order to establish and review:

· · Reliability and integrity of financial and operating information

· · Compliance with policies, plans, standards, laws, and regulations that could have significant impact upon operations

· · Measures taken to safeguard assets, including tests of existence and ownership as appropriate

· · Economy and efficiency in the use of resources

· · Overall risk associated with the BIDAYA operations

· · Adequacy and effectiveness of the BIDAYA’s systems of internal control

Develop and implements quality assurance programs to ensure performance of all aspects of the audit at a high level of efficiency and effectiveness

· Conduct and supervise audit assignments in line with the annual Internal Audit plan and update the Department heads and the CEO about the status of key concern areas observed during audit execution

· Perform periodic follow-up on all audit recommendations that have been agreed upon by the management and report accordingly

· Determine whether the audit areas are in compliance with existing policies, standards, architectures, procedures and other requirements and are consistent with good practices found elsewhere in the home financing industry

· Determine whether internal audit areas are designed, specified, configured, tested, operated, and managed in a manner which is efficient, reliable, secure, and consistent with organizational objectives

· Prepare summary of the results of all internal audits for developing and presenting to the Internal Audit Committee of the Board

· Prepare draft reports and discusses the result of the review with audited departments

· Prepare quarterly progress reports on planned audits and implementation of corrective actions

· Manage & evaluate employees’ performance with continuous feedback on their assigned targets and provide development opportunities to maximize the potential and engagement of employees

· Manage the talent pipeline in the organization through recruitment, effective utilization of employee development programs, mentoring programs, career planning and succession planning

· Manage & evaluate employees’ performance with continuous feedback on their assigned targets and provide development opportunities to maximize the potential and engagement of employees

· Manage the talent pipeline in the organization through recruitment, effective utilization of employee development programs, mentoring programs, career planning and succession planning

· Manage Department changes through continuous improvement of 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 reports of the Internal Audit Department are prepared on-time and accurately and meet the company and department requirements, standards, policies and procedures

· Develop and oversee the implementation of the Internal Audit Department and Organizational policies, procedures and controls covering all enterprise activities so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective services

· Ensure compliance to all relevant safety, quality and environmental management policies, procedures and controls across the department in order to guarantee employee safety, legislative compliance and a responsible environmental attitude

Job Details

Total Positions:
1 Post
Job Shift:
First Shift (Day)
Job Type:
Department:
Internal Audit
Job Location:
Gender:
No Preference
Minimum Education:
Bachelors
Degree Title:
Bachelor Business Administration, Accounting or Finance
Career Level:
Department Head
Minimum Experience:
12 Years (• 12 to15 years of relevant experience in Accounting and Internal Audit • 8 years in positions increasingly progressing into managerial responsibilities)
Work Permit:
Saudi Arabia
Apply Before:
Jul 29, 2019
Posting Date:
Apr 29, 2019
Show fewer details Read full job description

Bidaya Home Finance

Real Estate/Property · 51-100 employees - Riyadh

BIDAYA Home Finance has been launched as a national real estate finance company for Saudi Arabia in 2015. Headquartered in Riyadh, BIDAYA is licensed under the Saudi Arabian Monetary Agency (SAMA), and offers professional and reliable sharia’a compliant financial solutions to both customers and p ...Read More

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