Head of Internal Audit📣 Job Ad

About Allied Cooperative Insurance Group (ACIG)

Allied Cooperative Insurance Group (ACIG) is seeking a Head of Internal Audit to join its team in Riyadh. This full-time position is crucial for maintaining robust governance and operational integrity within the organization.

The Head of Internal Audit Role

The Head of Internal Audit is responsible for leading the internal audit function, providing independent and objective assurance on the effectiveness of governance, risk management, and internal control processes. This role involves establishing and overseeing a risk-based internal audit function that delivers independent assurance to the Board Audit Committee and executive management. The position plays a key part in strengthening overall governance, enhancing operational efficiency, and ensuring compliance with both regulatory and internal requirements.

Key Responsibilities

• Develop and execute the annual risk-based internal audit plan.
• Lead operational, financial, IT, and compliance audits across the organization.
• Evaluate the effectiveness of governance, risk management, and internal control frameworks.
• Report significant audit findings and recommendations to the Audit Committee and executive management.
• Monitor the implementation of audit recommendations and corrective action plans.
• Assess emerging risks and recommend improvements to internal controls and business processes.
• Coordinate with external auditors, regulators, and other assurance providers.
• Ensure compliance with International Standards for the Professional Practice of Internal Auditing (IIA Standards).
• Prepare periodic audit reports, dashboards, and Board papers.
• Lead, mentor, and develop the Internal Audit team while promoting a culture of integrity and continuous improvement.

Candidate Qualifications

• A minimum of 10 years of experience in internal audit or a related field.
• Experience within the insurance or financial services industry is highly preferred.
• Strong knowledge of corporate governance, enterprise risk management, internal controls, and regulatory requirements.
• Familiarity with Saudi Insurance Authority regulations is considered an advantage.

Professional Attributes

The ideal candidate will demonstrate leadership capabilities in developing and mentoring a team, coupled with a commitment to integrity and continuous improvement in audit practices. The role requires a proactive approach to risk assessment and the ability to communicate complex findings effectively to various stakeholders, including the Board Audit Committee and executive management.

Work Environment and Application

This is a full-time position based in Riyadh, Saudi Arabia. Salary for this role will be discussed during the interview process.