Manager-Internal Audit & Risk Management- Saudi Nationals
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Key skills for this role
Role Overview
The Manager, Internal Audit & Risk Management supports the Head of Internal Audit & Risk Management across corporate functions, project companies, and joint venture entities.
The role plans and executes risk-based internal audits, supports the ERM framework, and advises management on risk mitigation and control improvement.
The role requires analytical and report-writing skills, sound judgement, and knowledge of utilities development, power, renewable power, water projects, contracts, and financing structures.
Key Skills for This Role
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About AEW
Aljomaih Energy and Water Company develops, invests in, owns, and operates conventional power, renewable power, and water desalination assets in Saudi Arabia and the wider region.
The business operates largely through project-specific special purpose vehicles and joint ventures with domestic and international partners.
Role Overview
The Manager, Internal Audit & Risk Management supports the Head of Internal Audit & Risk Management across corporate functions, project companies, and joint venture entities.
The role plans and executes risk-based internal audits, supports the ERM framework, and advises management on risk mitigation and control improvement.
The role requires analytical and report-writing skills, sound judgement, and knowledge of utilities development, power, renewable power, water projects, contracts, and financing structures.
Internal Audit
- Support the annual risk-based internal audit plan and independently manage assigned audit engagements.
- Conduct comprehensive audits of business functions, processes, and controls.
- Assess compliance and prepare reports communicating findings, recommendations, and remediation plans.
- Track agreed audit recommendations and assist with policy and procedure improvements.
Project and Capital Expenditure Audits
- Audit project development from origination and bidding through financial close, construction, commissioning, and operational handover.
- Review EPC, O&M, PPA/WPA, shareholder, and financing agreement compliance.
- Verify progress payments, variation orders, claims, change management, contingency use, and approved budgets.
- Assess governance and control arrangements at project companies and joint ventures.
Risk Management and Advisory
- Support the ERM framework covering risk identification, assessment, mitigation, and monitoring.
- Conduct risk assessments, develop mitigation plans, maintain the risk register, and communicate risks to stakeholders.
- Analyze emerging risks and integrate risk management activities with internal audit processes.
- Execute assigned advisory and ad hoc engagements within expected time and quality standards.
Qualifications and Requirements
- Bachelor's degree in accounting, finance, business administration, engineering, or a related discipline.
- Eight to ten years of relevant experience, including four to five years in internal audit, risk management, or external audit.
- Experience presenting to an Audit Committee or equivalent governance forum.
- Master's degree or MBA is preferred.
- Exposure to IPP/IWP structures, project SPVs, joint ventures, EPC and O&M contracts, and project finance is strongly preferred.
Certifications and Knowledge
- CIA certification is required, or the candidate must be actively pursuing it for completion within an agreed timeframe.
- SOCPA, CPA, ACCA, CRMA, CFE, CISA, or PMP is preferred.
- ISO 31000 risk management training is advantageous.
- Knowledge of COSO internal control and enterprise risk management frameworks is required.
- Understanding of NCA controls, Saudi Companies Law, corporate governance regulations, ZATCA requirements, and Saudi-endorsed IFRS is required.
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