Financial Compliance

2 weeks ago

Al Hufūf, Eastern Province, Saudi Arabia Talent Pal Full time

Aramco, one of the world's leading integrated energy and chemicals companies, and international contract logistics provider DHL Supply Chain have announced the signing of a shareholders' agreement for a to establish a New Company for Procurement and Logistics Hub in Saudi Arabia, to enhance supply chain efficiency and sustainability.

It would be the region's first such hub catering to customers in the industrial, energy, chemical and petrochemical sectors.

The joint venture aims to be operational in 2025 and provide reliable end-to-end integrated procurement and supply chain services for companies across the industrial, energy, chemical and petrochemical sectors.

Our focus customers in the short term will be Saudi Aramco and its own Affiliates.

And in the long term would be all the industrial sectors within Saudi Arabia and the ultimate goal is to reach the MENA region in future.


Currently, we are seeking a dynamic person to take on the role of Financial Compliance/Tax Manager, to be hired for this JV based in Al Khobar.


Role Purpose:

  • The role holder is responsible for maintaining compliance of the new company's financial affairs, with both internal and external stakeholders, and managing taxrelated affairs by providing recommendations, acting on mandates and implementing appropriate internal policies and procedures. The role holder is also responsible ensuring the adherence to the new company's tax strategies and directing Zakat related affairs and overall financial integrity.

Key Responsibilities:

  • Contribute to the development and execution of the Department short to midterm strategic plan to ensure alignment with the Department's strategic priorities, and the corporate goals.
  • Contribute to the development of annual business plans for the assigned areas of responsibility to support the achievement of financial and strategic objectives.
  • Monitor, control and report key performance indicators related to the Department to track performance and recommend corrective actions.
  • Implement and execute Internal Compliance System procedures by Financial Compliance / Tax department through a regulatory lens.
  • Oversee establishment and maintenance of effective internal controls to prevent financial irregularities and fraud.
  • Collaborate with Technology function to provide training and guidance to finance and procurement teams to ensure awareness and adherence to financial compliance requirements.
  • Conduct selfassessment of executed internal controls.
  • Provide remediation to failed controls.
  • Report to management and shareholders' governance bodies the results of selfassessments.
  • Ensure compliance to regulatory requirements to all statutory bodies with regards to regulatory reporting and tax matters.
  • Ensure accurate identification of new / modified tax notices / circulars and handles queries related to taxation matters.
  • Identify and assess financial and taxrelated risks within procurement and logistics operations, implementing strategies to mitigate these risks. Ensure compliance to tax related matters regarding joint ventures that operate within KSA.
  • Oversee and manage VAT, Tax, and Zakat reporting including Transfer Pricing requirements.
  • Manage VAT/Tax Consultancy Contracts.
  • Oversee the design of, prepares and implements best practice controls and policies and reviews processes for Tax/Zakat accounting and reporting systems under KSA Zakat Law.
  • Conduct financial due diligence on vendors, suppliers, and partners to assess their financial stability and compliance with tax regulations.
  • Manage the activities of direct reports to ensure that all work is carried out in an efficient manner, in line with the annual business plans, policies and procedures.
  • Manage the performance management process by setting annual objectives, and developing staff through mentoring, coaching and constructive feedback.
  • Identify employees' training and developmental needs and in conjunction with Human Resources Department bridge the knowledge gaps to ensure continuous progression, and highlevel of competence within the team.
  • Contribute in defining an optimum structure for the Department, to ensure smooth workflow of operational processes and optimal utilization of resources.
  • Provide input into the preparation and consolidation of the Department's budget, monitor financial performance during the year and identify areas of unsatisfactory performance (if any), and recommend mitigating actions.
  • Identify and manage implementation of change initiatives on systems, processes and practices considering 'international leading practices', and/or other changes in the business environment.
  • Recommend improvements to departmental procedures, and ensure implementation of policies, procedures, systems, and controls covering the assigned areas of responsibility so that all activities meet the new company's standards, compliance, and regulatory requirements, align to business requiremen

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