Compliance Specialist

Position Overview

We are seeking a highly motivated and detail-oriented Compliance Specialist to join our team in a dynamic and regulated utilities environment. In this critical role, you will play a pivotal part in ensuring adherence to regulatory requirements, internal policies, and governance standards across the organization. Your responsibilities will encompass monitoring controls, identifying risks, and implementing mitigation strategies to safeguard the company’s compliance posture. This position requires a proactive approach, strong analytical skills, and the ability to collaborate effectively with cross-functional teams to drive continuous improvement in our compliance framework.

Key Responsibilities

The Compliance Specialist will be responsible for the following duties and responsibilities:

• Regulatory Monitoring and Alignment: Monitor compliance with applicable regulatory requirements issued by relevant authorities, such as energy, water, and gas regulators, ensuring alignment across all assigned business units.
• Compliance Reviews and Assessments: Conduct periodic compliance reviews and internal control assessments to evaluate adherence to policies, procedures, and governance standards, identifying areas for improvement.
• Risk Identification and Mitigation: Identify, assess, and document compliance risks, and support the development and implementation of mitigation plans in coordination with business stakeholders.
• Framework and Policy Implementation: Support the implementation and continuous improvement of the organization’s compliance framework, policies, and procedures to align with regulatory expectations and industry best practices.
• Policy Review and Validation: Review and validate internal policies, procedures, and operational practices to ensure they meet regulatory obligations and corporate governance requirements.
• Stakeholder Coordination: Collaborate with internal stakeholders, including Operations, Technical Services, and Corporate Services, to ensure timely closure of compliance gaps and corrective actions.
• Reporting and Documentation: Prepare and maintain comprehensive compliance reports, dashboards, and documentation for management review, internal audit, and regulatory inspections.
• Regulatory Change Management: Track and follow up on regulatory changes and updates, assessing their impact on the organization and supporting the implementation of required actions.
• Audit Support: Provide necessary documentation, evidence, and clarifications related to compliance activities to support both internal and external audits.
• Compliance Awareness and Training: Promote compliance awareness across the organization by supporting training initiatives, communication, and guidance to employees on regulatory and policy requirements.
• Record Maintenance: Maintain accurate records of compliance activities, risk registers, and control assessments to ensure audit readiness and traceability.
• Issue Escalation: Escalate non-compliance issues, control weaknesses, and regulatory risks to management in a timely and structured manner, ensuring proactive resolution.
• Governance and Ethics: Ensure adherence to corporate governance principles, including confidentiality, integrity, and ethical conduct, in line with regulatory frameworks.

Qualifications and Experience

To excel in this role, candidates must meet the following qualifications and possess relevant experience:

• Education: Bachelor’s degree in Engineering, Law, Business Administration, Finance, Risk Management, or a related field. Professional certifications such as Certified Compliance & Ethics Professional (CCEP), Certified Internal Auditor (CIA), or Certification in Risk Management Assurance (CRMA) are preferred but not mandatory for the minimum threshold.
• Experience: Minimum of 6 years of relevant experience in Compliance, Governance, Risk, or Internal Audit, preferably within utilities, energy, infrastructure, or regulated industries in the Kingdom of Saudi Arabia. Exposure to regulatory frameworks and compliance monitoring is highly desirable.
• Language Proficiency: Excellent command of both oral and written Arabic and English is required.
• Preferred Certifications:
  • Certified Compliance & Ethics Professional (CCEP) or equivalent
  • Certified Internal Auditor (CIA) or Certification in Risk Management Assurance (CRMA)
  • Corporate Governance or Regulatory Compliance training programs

Critical Attributes and Competencies

The ideal candidate will demonstrate the following competencies and attributes:

• Regulatory Knowledge: Strong understanding of compliance frameworks, internal controls, and governance practices, with a focus on regulatory requirements within the utilities/energy sector.
• Analytical Skills: Exceptional analytical and problem-solving skills to identify risks and develop effective mitigation strategies.
• Communication and Collaboration: Effective communication and stakeholder management skills to engage with cross-functional teams and promote compliance awareness.
• Attention to Detail: Meticulous attention to detail to ensure accuracy in compliance reviews, reporting, and documentation.
• Ethical Conduct: Commitment to upholding corporate governance principles, including confidentiality, integrity, and ethical conduct.
• Adaptability: Ability to adapt to evolving regulatory landscapes and industry best practices while maintaining a proactive approach to compliance management.