Chief Audit Executive

Overview

The Chief Audit Executive (CAE) oversees and manages all audit-related activities within an organization. They ensure compliance with laws, regulations and company policies, and evaluate business processes and operations to reduce risk and improve efficiency.

Responsibilities

• Developing and implementing comprehensive internal audit policies and procedures
• Ensuring compliance with all relevant regulations and laws
• Overseeing the internal audit department and coordinating audit activities
• Identifying and assessing areas of significant business risk
• Coordinating with external auditors and managing audits of company financial statements
• Advising management on how to improve systems and processes
• Maintaining open communication with management and the audit committee
• Providing training and guidance to internal audit staff
• Verifies, both on a continuous basis and in relation to special needs, in conformity with international professional standards, the adequacy and effective functioning of the internal control and risk management system, through an audit plan approved by the Board of Directors
• Has direct access to all useful information for the performance of its duties
• Drafts periodic reports containing adequate information on its own activity, the company's risk management process, and compliance with risk mitigation plans
• Prepares timely reports on significant events and presents audit findings to top management and the board of directors
• Submits reports to the chairman of the Board of statutory auditors, the control, risk and sustainability committee, the Board of Directors, and the Chief Executive Officer
• Verifies the reliability of information systems, including the accounting system, according to the audit plan
• Advocates a culture of risk awareness and security throughout the organization
• Assesses risk and determines frameworks relevant to the business
• Develops auditing strategies for optional and mandatory compliance checks
• Creates independent processes for ethics and compliance violation reporting
• Evaluates internal governance processes and improves them
• Understands relevant frameworks and how they apply to the business
• Identifies and assesses new security controls and their implementation
• Hires, trains, and guides internal auditing staff and teams

Qualifications

• Bachelor's degree in finance, accounting, or related field; MBA or Master's degree is a big plus
• 7-10+ years of progressively responsible experience in internal audit, including 3-5 years in a senior management position
• Certifications such as CPA, CFA, or CMA can be advantageous
• Knowledge of the lubricant and automobile industry and regulatory compliance experience is preferred
• Strong communication skills and ability to collaborate with executives and stakeholders
• Familiarity with accounting software and ERP systems (e.g., Oracle Fusion)
• Salary: 18,000 Saudi Riyals, including all allowances

Seniority level

• Executive

Employment type

• Full-time

Job function

• Accounting/Auditing and Finance
• Industries: Oil and Gas