Internal Control Officer

The Internal Control Officer at Alkaffary Group plays a crucial role in safeguarding the company's assets by developing, implementing, and monitoring internal control policies and procedures. The primary focus of this position is to ensure compliance with applicable regulations, enhance the integrity of financial reporting, and identify areas for operational improvements. The ideal candidate will possess strong analytical skills, attention to detail, and the ability to communicate effectively across various departments. If you are committed to promoting a culture of accountability and transparency while mitigating risks, we invite you to be a part of our dynamic team.

Key Responsibilities:

Establishment:

Build and design internal control policies and procedures (Internal Control SOPs) for all branches of the company.

Financial Oversight:

Conduct periodic audits of accounts, financial statements, operating expenses, and documentation cycles to ensure accuracy and integrity.

Process Evaluation:

Review the effectiveness of current procedures and provide suggestions for improvements.

Compliance Review:

Ensure that all departments and branches adhere to the company's internal policies and approved financial regulations.

Risk Management:

Identify control gaps in current processes and propose immediate plans to address them and prevent waste or fraud.

Report Preparation:

Submit periodic audit reports (monthly/quarterly) to the GRC manager detailing the status of financial and operational compliance.

Follow-Up:

Monitor the implementation of corrective recommendations with department managers to ensure audit observations are addressed.

Additional Responsibilities:

Training and Awareness:

Organize workshops and awareness sessions for employees about the importance of internal control and how to comply with it.

System Development:

Update and improve control policies and procedures based on changes in regulations and the company's needs.

Data Analysis:

Utilize data analysis tools to monitor patterns and trends that may indicate risks or non-compliance.

Process Improvement Projects:

Participate in projects aimed at improving internal processes in line with best practices.

Communication and Coordination:

Enhance communication channels between different departments to ensure information sharing and consolidate control efforts.

Performance Management:

Develop key performance indicators (KPIs) to measure the effectiveness of the control system and compliance.

Random Checks:

Conduct random checks to ensure adherence to policies and procedures.

Annual Reviews:

Perform comprehensive periodic reviews to ensure processes are optimized and systems are efficient.

Internal System Evaluation:

Evaluate and enhance internal systems that support financial control and reporting.

Vendor Relationship Management:

Assess and manage relationships with internal and external service providers related to financial oversight.

Research and Development:

Stay updated on the latest trends in internal control and apply suitable practices to the company's needs.

Continuous Monitoring:

Design mechanisms for continuous monitoring of internal control performance and identify weaknesses.

Support for Acquisitions:

Provide support in acquisitions and mergers to ensure the integration of control systems.

Fraud Detection and Prevention:

Develop and implement strategies for detecting and preventing fraudulent activities within the organization.

Audit Facilitation:

Facilitate external audits by preparing necessary documentation and coordinating with external auditors.

Crisis Management:

Participate in crisis management planning, ensuring that effective controls are in place to mitigate financial risks.

Stakeholder Engagement:

Engage with key stakeholders to communicate findings and recommendations derived from audits and reviews.

Change Management:

Assist in managing changes that may affect internal controls, including system upgrades and process modifications.

Regulatory Compliance:

Monitor compliance with regulatory requirements and inform management of any changes that may impact the organization.

Ethics and Conduct:

Promote a culture of ethics and integrity within the organization, ensuring that all employees understand their roles in maintaining internal controls.

Requirements:
• Minimum of 3 years of experience in internal auditing or establishment.
• Strong financial and accounting background.
• Strong analytical skills and ability to work effectively within a team.
• Ability to communicate clearly with all management levels.