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Functional Audit Lead

Riyadh, Saudi Arabia

Functional Audit Lead

Riyadh, Saudi Arabia
Posted 22 days ago
1 open position
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Job Description

Functional Audit Lead, Advertisement – KSA-Al-Khobar:
Aramco, one of the world's leading integrated energy and chemicals companies, and international contract logistics provider DHL Supply Chain have announced the signing of a shareholders' agreement for a to establish a New Company for Procurement and Logistics Hub in Saudi Arabia, to enhance supply chain efficiency and sustainability. It would be the region's first such hub catering to customers in the industrial, energy, chemical and petrochemical sectors. The joint venture aims to be operational in 2025 and provide reliable end-to-end integrated procurement and supply chain services for companies across the industrial, energy, chemical and petrochemical sectors. Our focus customers in the short term will be Saudi Aramco and its own Affiliates. And in the long term would be all the industrial sectors within Saudi Arabia and the ultimate goal is to reach the MENA region in future.
Currently, we are seeking a dynamic person to take on the role of Functional Audit Lead, to be hired for this JV based in Al Khobar.
•The Functional Audit Lead is responsible for overseeing and leading the internal audit function within a specific functional area or department of JV, such as IT, Procurement, Supply Chain, etc. This role involves designing and implementing audit plans, conducting risk assessments, managing a team of auditors, and providing independent and objective assurance to senior management. The position will collaborate with key stakeholders to identify risks, improve internal controls, and enhance operational efficiency.
Duties Responsibilities: 
•The role holder will take on a leadership role encompassing multiple disciplines within Functional Audit. They will be tasked with determining the course of action based on established principles and modifying existing processes and methods. In some instances, they may even guide these principles and demonstrate an understanding of how these principles relate to other functional domains. They will have advanced knowledge of several disciplines, some in highly specialized fields.
•Develop and execute the Functional Audit department’s long-term strategic plan in alignment with the corporate strategies.
•Develop annual business plans for the Functional Audit department and ensure the achievement of financial and strategic objectives.
•Report to the Head of Internal Audit on the progress of activities against the annual business plans, opportunities, challenges, and issues faced, mitigations taken, etc. as required, to make an informed decision.
•Manage and continuously monitor the performance of the Functional Audit department to ensure performance deviations are identified in a timely manner, and required resources and actions are implemented to meet performance targets.
•Design and execute risk-based audit plans for the assigned functional areas including operations, IT, procurement, supply chain, etc. and ensuring coverage of key risks and controls.
•Conduct comprehensive and independent audits, including evaluating the effectiveness of internal controls, risk management practices, and compliance with policies and regulations.
•Identify opportunities for process improvements, cost savings, and operational efficiencies through audit findings and recommendations.
•Prepare and recommend the Functional Audit department’s budget in alignment to the respective annual business plan.
•Monitor the Functional Audit department’s financial performance against the approved budget, identify areas of unsatisfactory performance (if any), and recommend mitigating actions across JV. 
•Present regular and ad-hoc management reports related to the audit function, provide recommendations to the Head of Internal Audit on new opportunities, highlight critical issues and challenges, and provide strategic insight to ensure effective decision-making.
Qualifications and Skills Required:
•Bachelor’s degree in accounting, finance, business administration, or equivalent from a recognized and accredited university is required.
•Master’s degree in accounting, finance, business administration, or equivalent from a recognized and accredited university is preferred.
•Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Certified Information Systems Auditor (CISA) or any relevant certification preferred.
•Demonstrated proficiency in oral and written English.
•8+ years’ experience in a similar role

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