Internal Auditor

About Arab Invest

Arab Invest is a Pan-Arab joint-stock firm established in July 1974. The company is owned by the governments of 16 Arab nations and possesses an authorized capital of 1.2 billion USD alongside a paid-up capital of 917 million USD.

Job Profile

The Internal Auditor will be responsible for executing the yearly audit plan by conducting audits, analyzing relevant data, and compiling audit reports to ensure compliance with applicable regulations, policies, and procedures. This role reports directly to the Head of Internal Audit.

Key Responsibilities

• Execute periodic audits according to the annual audit plan and perform additional audits upon specific requests to evaluate organizational compliance with applicable laws, regulations, and policies.
• Oversee entire internal audit projects encompassing planning, execution, reporting, and follow-up activities.
• Formulate risk and control matrices (RCMs), process maps, and testing procedures consistent with COSO and IPPF standards.
• Conduct special reviews such as investigations, ad-hoc management audits, and due diligence support as required.
• Assess internal control systems and processes to detect weaknesses, risks, and operational inefficiencies.
• Analyze financial transactions to verify the accuracy and integrity of financial and operational information, ensuring adherence to company policies.
• Perform tests involving data-driven techniques like analytical procedures, sampling, and basic data analytics.
• Identify discrepancies from established policies or regulations and report them to support corrective measures by management.
• Examine asset-related records to evaluate the extent of asset utilization.
• Prepare comprehensive audit reports outlining findings, consequences, and suggested improvements and present these to management.
• Track the implementation status of audit recommendations through follow-up audits to confirm corrective actions.
• Support and coordinate with external auditors and maintain strong relationships with internal and external stakeholders during audit activities.
• Stay updated on internal policies, industry best practices, auditing standards, and current regulations.

Qualifications

• Hold a Bachelor’s degree in Finance, Accounting, Business Administration, or a similar discipline.
• Possess professional certification such as CPA, CA, or CIA.
• Bring at least 5 years of experience in internal auditing within the investment industry.
• Familiarity with IIA IPPF/Standards, COSO framework, basic COBIT, and regulatory requirements relevant to Saudi Arabia (including Investment Funds and Listed Companies rules, as well as SAMA regulations).

Technical Skills

• Audit planning, execution and reporting
• Development of risk and control matrices
• Evaluation of internal controls and financial records

Soft Skills

• Strong teamwork abilities
• High integrity and ethical conduct
• Focus on stakeholder management
• Accountability and responsibility