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Contract TypeContract TypeFull-time
Workplace typeWorkplace typeOn-site
LocationLocationRiyadh

About the Divisional Controller Role

Riyad Bank is seeking a skilled and experienced Divisional Controller to join its team in Riyadh, Saudi Arabia. This full-time position is essential for identifying control deficiencies, mitigating risks, and ensuring adherence to regulatory standards across the division. The Divisional Controller will play a key role in safeguarding the bank's operations and financial integrity by proactively identifying control weaknesses and their root causes. Collaboration with business management is key to developing effective mitigation plans, minimizing risk exposures, ensuring compliance with regulatory requirements, and facilitating the timely closure of emerging risks and audit exceptions.

Key Responsibilities

  • Adhere to all relevant divisional policies, processes, standard operating procedures, and instructions to ensure work is conducted in a controlled and consistent manner.
  • Prepare and recommend the division's budget by conducting thorough analysis and data compilation as directed.
  • Monitor the financial performance of the division against established budgets, promptly identifying and rectifying areas of unsatisfactory performance, and capitalizing on potential performance improvement opportunities.
  • Oversee the day-to-day operations within the scope of the job to ensure continuity of work.
  • Develop a comprehensive key controls testing plan, defining its scope and ensuring adherence to the implementation timeline and results.
  • Discuss the testing plan with the Internal Control Manager and seek guidance as needed.
  • Develop and submit analytical reports to the Head of Division on control testing results, detailing control deficiencies and remediation plans to support informed decision-making for risk mitigation.
  • Acknowledge that control tests have been performed in accordance with the Control Testing Framework.
  • Ensure timely follow-up on observations from audit, risk, compliance, Business Technology, and Internal Control departments to facilitate the prompt implementation of corrective actions.
  • Submit periodic reports to the Head of Division on the division's compliance, risk, audit, Business Technology, and Internal Control posture, highlighting identified issues and any breaches of compliance.
  • Train, educate, advise, and interpret regulations and policies related to compliance and risk for division staff in conjunction with the Compliance Department.
  • Report all 'near-miss' incidents and operational loss events that could potentially impact the bank.
  • Coordinate with the Compliance Department and SAMA (Saudi Central Bank), as required, to ensure the division's compliance with new regulations, policies, procedures, and regulatory guidelines/instructions.
  • Liaise between the Head of Division, the Compliance Department, and external regulators, as necessary, on exception closure and breach mitigation controls.
  • Acknowledge key risks and controls within significant processes identified during scoping exercises and evaluate the design effectiveness of controls to mitigate these key risks.
  • Consolidate and manage the tracking and monitoring of the division's Key Performance Indicators (KPIs) to measure performance against the business plan, highlighting and addressing any gaps and variances.
  • Supervise the development of high-level analysis of the division's financial performance based on internal financial, MIS, and KPI reports to inform the management team and enable the development of corrective actions.
  • Review control testing results and develop remedial action implementation plans based on findings to protect the Bank against future risks.
  • Follow up with the 1st and 2nd lines of defense on open observations and develop plans with agreed timelines for their closure.
  • Follow up on and control the implementation of proposed and approved corrective actions, as well as the remedial action implementation plan.
  • Develop and manage the implementation of ad-hoc quality checks on work completed within the division, including completeness, correctness, and timeliness of deliverables or services, to proactively identify and resolve potential issues.
  • Contribute to identifying opportunities for continuous improvement of processes and practices, considering international best practices, business process enhancement, cost reduction, and productivity improvement.
  • Comply with all relevant safety, quality, and environmental management policies, procedures, and controls to ensure a healthy and safe work environment.
  • Perform other related duties or assignments as directed.

Qualifications and Experience

  • A Bachelor's degree in Business with a specialization in Finance or Accounting is preferred.
  • 6-8 years of relevant experience in the banking sector.

Required Skills

  • Risk Management
  • Financial Analysis
  • Budgeting
  • Internal Controls
  • Regulatory Compliance
  • Audit
  • Problem Solving
  • Communication
  • Leadership

Work Environment and Location

This is a full-time position based in Riyadh, Saudi Arabia. The role requires intermediate English language proficiency.


Requirements

  • Requires 5-10 Years experience

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