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Financial Compliance Director | 0001

Saudi Telecom Company

8 - 9 years Riyadh - Saudi Arabia

Other, MBA/PG Diploma in Business Mgmt(Finance), Bachelor of Business Administration(Management). Any Nationality


, Posted on June 12, 2018 1 Opening

Job Description

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*Position Title
Financial Compliance Director
Sector
Financial Reporting & Control
Department
Financial Compliance
Job Location
Saudi Arabia , Riyadh, STC HQ
Job Purpose
The role holder is responsible for driving business strategy, policies and guidelines related to Financial Compliance and supporting Financial Policies & Compliance practices to ensure alignment, validate efficiency and compliance with strategy, objectives and existing standards. The role holder shall carry out his duties in accordance with the stipulated business policies and procedures.
Core Responsibilities
Managerial Responsibilities
• Participate in the development and implementation of the Financial Policies & Compliance General Directorate plans.
• Direct and manages the Financial Compliance department mandates, providing leadership and facilitating work processes in order to achieve high performance standards.
• Manage and controls change in the Financial Compliance department providing guidance and support, necessary for continuous improvement.
• Ensure compliance with organizational policies, procedures and quality standards in the Financial Compliance department.
Core Responsibilities
• Oversee financial policies, procedures and processes in order to ensure its compliance with department activities.
• Review, evaluate & coordinate existing financial policies & procedures and recommend changes with an objective of establishing robust compliance function.
• Conduct comprehensive compliance reviews and internal control oversight as per the approved annual compliance review plan.
• Oversee operational risk management practices by setting & ensuring the cohesion and efficiency of ongoing control procedures throughout the entire finance function.
• Identify breaches in policies & procedures within finance, and ensure remedial actions taken on internal control matters and prepare periodic internal control & compliance reports.
• Follow-up and control the implementation of policies and procedures in order to ensure its adherence.
• Undertake relevant impact assessment, audit and evaluations to ensure compliance and to support program of change.
• Maintain and establish cooperative relationships with finance associates, inner stakeholders in groups as well as company evaluators and auditors in order to maintain synergy.
• Monitor compliance of the credit policies and procedures and provides dedicated training sessions with the aim to increase capacity building among finance/credit practitioners.
• Maintain corporate financial compliance and internal control policy and recommend improvements to the guidebook.
• Liaise with internal and external auditors to ensure that there concerns and observations clearly understood, followed and addressed.
• Manage the internal control and compliance activities with the tenacity of complying with the regulatory regime (related to finance) and effectively oversees the implementation of regulatory changes within finance function and communicates them within the company.
• Direct the development and implementation of the annual internal control and compliance review plan for managing various projects & activities within group finance function and submit it for Group CFO approval.
• Handle the robust and modern internal control system implementation e.g. COSO, including the engagement of COSO advisors and project management.
• Coordinate with group companies with respect to effective internal control and compliance reporting and monitoring.
• Maintain up-to-date knowledge of relevant changes in legislation and best practices with regards to all compliance areas.
• Directs the preparation of analysis about regulatory compliance and issuance of reports about STC s compliance status so that the Executive Management is aware on areas likely to require further attention.
• Ensures the effectiveness of the STC s processes and controls in relation to the management of dispensations, waivers and breaches.
People Management Responsibilities
• Defines goals and key performance indicators for each member of the team and ensures effective application of the STC performance management process.
• Directs planning and selection of manpower in the Financial Compliance department, in line with the business and operational plans.
• Ensures high level of employee engagement and capability development by providing on-going feedback and coaching team members within the Financial Compliance department.
Performs other responsibilities and tasks as directed by the General Manager Financial Policies & Compliance in order to meet business objectives.
Qualifications/
Certification
• Bachelor s degree in Business Administration, Finance or a related discipline
• Master s degree in Finance or Business Administration is preferred
Years
of Experience
A minimum of 8 years of relevant experience with at least 3-4 years in a similar role.
Nature
of Experience
Prior managerial experience in financial control in a large-scale service oriented industry is strongly preferred
Prior experience within the KSA region and/or the Middle East region including knowledge of regulatory environment and context is preferred
Desired Skills &
Knowledge
• Strong quantitative and analytical skills
• Good understanding of telecommunications industry
• Excellent judgment and creative problem solving skills including conflict resolution skills
• Principles of financial management and analysis, including an understanding of key profitability metrics and ratios, revenue indicators, etc.
• Knowledge of internationally accepted current accounting standards of US GAAP, IFRS and IAS


Industry Type : Telecom / ISP
Functional Area : Finance / Treasury

Keywords

Auditing Financial reporting US GAAP IFRS Project management Business strategy Coso Performance management Control system operational risk management

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Saudi Telecom Company


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