Manager Internal Audit & Risk Management Saudi Nationals📣 Job Ad

About Aljomaih Energy and Water Company

Aljomaih Energy and Water Company (AEW) develops, invests in, owns, and operates conventional power generation, renewable power, and water desalination assets. These operations are conducted within the Kingdom of Saudi Arabia and the wider region, primarily through project-specific special purpose vehicles (SPVs) and joint ventures with domestic and international partners.

The Role of Manager, Internal Audit & Risk Management

AEW is seeking a Manager, Internal Audit & Risk Management for a full-time position based in Riyadh, Saudi Arabia. This role is integral to upholding AEW's ethical, governance, and operational integrity. The Internal Audit & Risk Management function provides independent and objective assurance and advisory services designed to add value and improve AEW's operations, reporting functionally to the Board Audit Committee and administratively to the Chief Executive Officer.

The Manager supports the Head of Internal Audit & Risk Management across corporate functions, project companies, and joint venture entities. This position requires operating credibly with senior management, external auditors, regulators, lenders, and shareholder representatives, focusing on planning and executing risk-based internal audits, supporting the Enterprise Risk Management (ERM) framework, and advising management on effective risk mitigation and control improvement.

Core Internal Audit and Risk Management Responsibilities

• Support the Head of Internal Audit & Risk Management in developing the annual risk-based internal audit plan and independently manage and execute internal audit engagements within assigned areas.
• Conduct comprehensive audits of various business functions, processes, and controls, evaluating their effectiveness and identifying areas for improvement.
• Assess compliance with relevant laws, regulations, and company policies, and prepare clear and concise audit reports communicating findings, recommendations, and remediation plans.
• Monitor and track the implementation of agreed-upon audit recommendations, ensuring timely and effective resolution of identified issues.
• Assist in the review and improvement of company-wide policies, procedures, and management practices.
• Support the Head of Internal Audit & Risk Management in developing the annual plan to manage and execute risk management engagements.
• Collaborate with senior management to develop, implement, and maintain the company's ERM framework, encompassing risk identification, assessment, mitigation, and monitoring processes.
• Conduct regular risk assessments to identify and evaluate potential risks, considering likelihood, impact, and cascading effects, and develop effective risk mitigation plans.
• Maintain an updated risk register, ensure consistent communication of risks to relevant stakeholders, and integrate risk management activities with internal audit processes.
• Analyze emerging risks and trends, proactively adapting the ERM framework and annual plans to address them.
• Ensure the smooth and effective execution of all ad hoc or advisory engagements once assigned, within expected turnaround time and quality of deliverables.

Specialized Project and Contract Audit Functions

• Audit the project development lifecycle from origination and bid through to financial close, construction, commissioning, and handover to operations.
• Review compliance with EPC, O&M, PPA/WPA, shareholder, and financing agreements, including obligations, milestones, liquidated damages, warranties, insurance, and reporting covenants.
• Verify progress payments, variation orders, claims, change management, and contingency utilization against contractual entitlement and approved budgets.
• Assess governance, delegation of authority, and control arrangements at project companies and joint ventures, including access rights available to AEW under shareholder agreements.

Candidate Profile and Requirements

The ideal candidate for this position will possess 5 to 10 years of experience in a relevant field. The role requires a proactive mindset, strong analytical and report-writing skills, and sound judgment in sensitive situations. A working understanding of the utilities development industry is essential, particularly concerning conventional power, renewable power, and water projects, as well as the contractual and financing structures through which they are delivered.

Opportunity Summary

This full-time position offers an opportunity to contribute significantly to the integrity and operational excellence of Aljomaih Energy and Water Company within a dynamic and critical industry sector.