Internal Audit Manager

Reef Holding is seeking an experienced and highly analytical professional to lead its internal audit function.

🔹 Job Title: Internal Audit Manager
📍 Location: Riyadh, Saudi Arabia
🔹 Employment Type: Full-Time
🔹 Workplace Type: On-Site
🔹 Required Experience: 7–9 Years
🔹 Job Category: Finance and Accounting

🌟 About Reef Holding
Reef Holding is committed to maintaining high standards of governance, transparency and accountability across its business operations.

The group is seeking an experienced Internal Audit Manager to lead internal audit activities and strengthen risk management, internal controls, governance and compliance practices across the group and its subsidiaries.

🌟 Job Purpose
The Internal Audit Manager will develop and execute the annual risk-based internal audit plan and conduct independent reviews of financial, operational, compliance and governance activities.

The role includes evaluating internal controls, identifying risks and control weaknesses, preparing audit reports and presenting findings and recommendations to executive management and the Audit Committee.

The successful candidate will also monitor corrective actions and ensure that audit findings are effectively resolved within agreed timelines.

🔹 Audit Planning and Risk Assessment
🔺 Develop and maintain the annual risk-based internal audit plan.
🔺 Present the audit plan to the Audit Committee for review and approval.
🔺 Ensure comprehensive audit coverage across financial, operational, compliance and governance areas.
🔺 Cover the group, subsidiaries, branches and major business activities.
🔺 Assess financial, operational and regulatory risks.
🔺 Update risk and control matrices in coordination with relevant departments.
🔺 Prioritize audit engagements according to risk levels and potential business impact.

🔹 Internal Audit Execution
🔺 Conduct scheduled and surprise audits across departments, branches and business activities.
🔺 Evaluate the design and effectiveness of internal controls.
🔺 Review financial and operational policies and procedures.
🔺 Examine accounting records, financial transactions and reporting processes.
🔺 Ensure the accuracy of financial activities and compliance with approved procedures.
🔺 Review operational processes and identify opportunities to improve efficiency.
🔺 Assess compliance with applicable laws, regulations and governance requirements.

🔹 Findings and Corrective Actions
🔺 Identify control weaknesses, policy deviations and compliance gaps.
🔺 Analyze the root causes of identified audit findings.
🔺 Develop practical corrective and preventive recommendations.
🔺 Agree on corrective-action plans with responsible departments.
🔺 Monitor the implementation of audit recommendations.
🔺 Verify the effectiveness of corrective actions before closing findings.
🔺 Escalate overdue or high-risk findings to the appropriate management level.

🔹 Reporting and Stakeholder Coordination
🔺 Prepare professional audit reports covering findings, risks and recommendations.
🔺 Present audit results to executive management and the Audit Committee.
🔺 Prepare periodic summaries of risk, control and compliance conditions.
🔺 Coordinate with external auditors to support collaboration and avoid duplication.
🔺 Work with internal departments to enhance policies and procedures.
🔺 Support the development of governance and institutional compliance frameworks.
🔺 Provide professional advice regarding risks and internal controls.

🔹 Operational and Strategic Audit Support
🔺 Design proactive audit tools using data analytics and performance indicators.
🔺 Evaluate operational efficiency and identify improvement opportunities.
🔺 Participate in reviews of major projects and strategic initiatives.
🔺 Assess projects from risk, governance and internal-control perpectives.
🔺 Develop internal audit methodologies, policies and procedures.
🔺 Implement modern audit and data-analytics tools.
🔺 Use ACL, Power BI and Excel for data analysis and audit reporting.

🔹 Governance and Professional Standards
🔺 Maintain independence and objectivity throughout all audit activities.
🔺 Protect confidential and sensitive information.
🔺 Apply the International Standards for the Professional Practice of Internal Auditing.
🔺 Comply with professional ethics and the group’s internal policies.
🔺 Perform additional audit and oversight duties assigned by the Group CEO or Audit Committee within approved authorities.

🔹 Bachelor’s degree in Accounting, Finance or a related discipline.
🔹 Seven to nine years of relevant experience in internal audit, risk management or internal controls.
🔹 Proven experience preparing and executing annual risk-based audit plans.
🔹 Strong knowledge of the IIA Standards.
🔹 Experience in enterprise risk management.
🔹 Strong knowledge of governance, compliance and internal-control frameworks.
🔹 Experience reviewing financial and operational activities.
🔹 Ability to communicate directly with executive leadership and the Audit Committee.
🔹 Fluency in written and spoken Arabic and English.

🌟 Professional Certification
🔹 The following certification is highly preferred:
CIA – Certified Internal Auditor
🔹 Other professional certifications in accounting, auditing or risk management are considered an advantage.

🌟 Technical Skills
🔹 Annual internal audit planning and execution.
🔹 Risk and internal-control assessment.
🔹 Financial and operational audit.
🔹 Audit-finding tracking and closure.
🔹 Executive and Audit Committee reporting.
🔹 Audit-data analysis using ACL.
🔹 Proficiency in Power BI and Microsoft Excel.
🔹 Excellent audit-report writing and presentation skills.
🔹 Ability to analyze data and identify risk patterns.

🌟 Performance Measurement
Performance will be evaluated according to approved key performance indicators, including:
🔹 Completion of the annual internal audit plan.
🔹 Timely closure of audit findings.
🔹 Effectiveness of internal controls.
🔹 Quality of audit reports and recommendations.
🔹 Improvements in governance and compliance levels.
🔹 Effectiveness of recommendations in reducing risks and improving operations.