Head of Internal Audit-KSA -Riyadh| Financial Services| Orient Insurance

Job description

The Head of Internal Audit will lead the internal audit function to ensure the organization operates in compliance with regulatory requirements, internal policies, and industry standards.

This role involves developing and implementing a comprehensive audit strategy to evaluate the adequacy and effectiveness of risk management, control, and governance processes.

The Head of Internal Audit will provide independent assurance to senior management, helping the organization achieve its objectives while safeguarding assets.

What you will do

Strategic Leadership:

• Develop and execute the annual internal audit plan, aligned with the company’s risk assessment and strategic goals.
• Act as an advisor to management on improving operational efficiency and mitigating risks.
• Mentor and develop internal audit team members to build a strong and capable audit function.

Audit Execution:

• Oversee and conduct audits and reviews across operational, financial, IT systems, cybersecurity, and data privacy to ensure compliance, organizational resilience, and protection against emerging risks.
• Ensure timely and accurate reporting of audit findings, recommendations, and corrective actions to senior management.
• Monitor the implementation of agreed-upon action plans to address audit findings.

Risk Management & Governance:

• Collaborate with senior management to identify and assess key risks impacting the organization.
• Provide assurance on the effectiveness of risk management, internal controls, and governance processes.
• Stay updated on regulatory changes, ensuring the organization’s audit practices comply with legal and industry standards.

Stakeholder Engagement:

• Serve as the primary point of contact for external auditors, regulators, and other stakeholders regarding internal audit matters.
• Maintain effective communication with the senior leadership, providing periodic updates on audit activities and key risks.

Required skills to be successful:

• In-depth knowledge of auditing principles, risk assessment frameworks, and insurance industry regulations.
• Strong analytical, problem-solving, and decision-making skills.
• Excellent communication and interpersonal skills to interact effectively with diverse stakeholders.
• High integrity, ethical conduct, and the ability to handle sensitive information with discretion.
• Proficiency in audit management tools and relevant software.

Key Performance Indicators (KPIs):

• Timely completion of the annual audit plan.
• Quality and effectiveness of audit reports and recommendations.
• Stakeholder satisfaction with the internal audit function.
• Effectiveness of risk mitigation and control improvements implemented.
• Number of proactive risk mitigation initiatives suggested and implemented.
• Reduction in repeat audit findings year-over-year.

What equips you for the role:

• Education: Bachelor’s degree in Accounting, Finance, Business Administration, or a related field. A master’s degree is preferred.
• Certifications: Professional certifications such as CIA (Certified Internal Auditor), CPA (Certified Public Accountant), or equivalent are required.
• Minimum 10 years of experience in internal auditing, risk management, or compliance, preferably in the insurance or financial services sector.
• Proven experience in a leadership role managing audit functions and interacting with senior management and boards.

Working Days and Hours:

• Working Days : Sunday to Thursday
• Time: 8: 00 AM till 5:00 PM
• Weekends: Friday and Saturday