Compliance Inspection Officer

Job Description

===SAUDI NATIONALS ONLY/JEDDAH-BASED===FRESH GRADUATES ARE WELCOME TO APPLY!!JOB RESPONSIBILITIES:

• Prepare the annual plan and schedules for internal inspection.
• Verify and evaluate the compliance of all company divisions, departments, branches and points of sales regarding regulatory body?s laws, rules and regulations.
• Carries out surveys of functions including: Background information, control questionnaire, benchmarking best practice and carrying out assessment activities in assigned areas to determine the nature of operations and adequacy of the system of control to achieve inspection objectives.
• Identify the key control points of the system and risk exposures and draft the process map of the engagement and the control / risk matrix to structure the inspection assignment
• Plan the objectives, scope and procedures of the Inspection assignment (i.e. drafts terms of reference of the engagement)
• Determine the engagement approach including statistical sampling and the use of information technology
• Conduct the inspection fieldwork and complete the control test sheet of the engagement (i.e. documents the test purpose, approach, work completed, materiality, management feedback, results and Conclusion).
• Identify and review control weaknesses and deficient conditions (via inspection observations) and make t recommendations for correcting unsatisfactory conditions, improving operations and reducing cost
• Complete inspection documentation and file as required, ensuring that all records are in place, up to date and accessible to those who need to review the documentation
• Identify and alert any red flag (fraud indicator)to the Internal Inspection Manager during the conduct of the inspection engagement to ensure any fraudulent issues are dealt with promptly
• Analyze activities in terms of potential risk and impact on operations, evaluates, communicates and confirms inspection findings with the responsible officers of operations inspection.
• Complete draft inspection reports and documents to ensure accurate records of inspections carried out
• Assist the Internal Inspection Manager in completing the clearance and escalation procedures (UK standards)
• Undertake follow up reviews of all recommendations on a quarterly basis and seek verification and evidence from the business to assess if inspection recommendations have been properly implemented and sustained.
• Carry out follow up reviews with the relevant management teams and reports the outcomes to the Head of Compliance.
• Maintains and updates the internal inspection recommendations database.
• Participate in preparations for risk-based inspection plans/programs.
• Track assignment completion and complete inspection times sheets and schedules.
• Maintain effective working relations with the management team and Inspection stakeholders.
• Understanding new regulatory circulars/instruction and clarify each task
• Breakdown each task by department and circulating it to the concerned team
• Follow-up during implementation period to ensure meeting deadlines
• Receive official confirmation from each department head confirming our full adherence to the instructions
• Inspection execution at deadline

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