Compliance Specialist

Job Title: Financial Compliance Specialist

Job Objectives

Conduct comprehensive and accurate financial audit operations on non-profit organizations to ensure compliance with financial laws and regulations, and to enhance transparency and accountability in the use of public funds.

Operational Duties and Responsibilities

Review the financial aspects of non-profit organizations by examining financial statements such as income and expenditure statements, cash flow reports, trial balance, and daily transaction records to ensure compliance with relevant financial laws, regulations, and legislation.

Ensure the application of International Financial Reporting Standards (IFRS), and proper documentation of all transactions, as well as submitting reports and recommendations to the direct supervisor.

Select samples of financial transactions to verify their accuracy and compliance with supporting documents (including but not limited to invoices, contracts, and payment receipts).

Conduct detailed audits of the mechanisms for allocating grants and donations in non-profit organizations and ensure their exclusive use for pre-defined purposes such as charitable or developmental projects.

Identify legal or financial risks resulting from mismanagement or non-compliance with standards, policies, and regulations, and submit recommendations to the direct supervisor to take the necessary actions in accordance with the level of risk.

Conduct field visits to hold periodic meetings with managers of non-profit organizations to understand the nature of financial operations, identify challenges, and provide the necessary technical support.

Collaborate with organizations to implement recommendations through training sessions or workshops on financial best practices, and work on raising awareness of relevant standards, regulations, and policies.

Monitor improvements in financial procedures and operations within non-profit organizations by following up on the implementation of recommendations and ensuring the achievement of the desired outcomes through subsequent visits and evaluations.

Participate in training new employees or knowledge-sharing activities to ensure the dissemination of awareness and verify that entities audited by the Authority comply with applicable standards, regulations, and policies.

Keep up to date with the latest developments in the field of financial auditing for non-profit organizations to apply them in practice and propose updates to the Department’s audit procedures manual based on practical experience, research, and changes in laws and regulations.

Prepare comprehensive audit reports that include audit results, observations, and violations (if any), and submit them to the direct supervisor.

Comply with the Authority’s approved information security policies and procedures, and ensure adherence to controls to maintain the confidentiality of information.

Perform any other tasks and duties within the scope of the job responsibilities.

Educational Requirements

Bachelor’s degree in accounting, Finance, Business Administration, or an equivalent qualification from an accredited university.

Preferred: Professional certifications such as:

CPA (Certified Public Accountant): To demonstrate competency in accounting and auditing.

CIA (Certified Internal Auditor): A recognized certification in internal auditing.

CFE (Certified Fraud Examiner): A recognized certification for handling potential fraud cases, money laundering, and related matters.

Experience Requirements

Five (5) years or more of experience in financial auditing within non-profit organizations, charitable associations, or non-governmental organizations (NGOs).