Legal and Corporate Governance Counsel

About Petrolube:

Petrolube is the largest lubricants producer and supplier in Saudi Arabia.

Home to the iconic Petromin brand, Petrolube offers customers superior quality products that meet their evolving needs. We do this through an unrivalled range of high-quality, increasingly sustainable, and diverse portfolio of brands.

Responsible for the governance and compliance monitoring activities for the group of companies having presence in Kingdom of Saudi Arabia, United Arab Emirates, Egypt and Pakistan.

• Updating the governance framework for the organization and with cooperation with stakeholders in accordance with the applicable laws, regulations, and best practices.
• Updating corporate governance related policies in accordance with the applicable laws, regulations, and best practices.
• Monitoring governance practices in the organization to reduce risks and raise performance efficiency and applying these practices (such as non-conflict of interest disclosure forms, non-disclosure agreements, etc.) through the relevant departments and ensuring adherence to these practices.
• Support in monitoring, reviewing, and updating the Delegation of Authority that governs the Board of Directors’ relationship with the executive departments and following up on its implementation and updating it on an ongoing basis.
• Monitor and assist in reviewing and updating the operational Authority Matrix that governs all executive departments’ powers in a way that achieves the principles of transparency and objectiveness and updating it on an ongoing basis.
• Assist in overseeing the establishment of companies and subsidiaries, ensuring compliance with pertinent laws, regulations, and governance standards.
• Provide recommendations on enhancements / updates to the corporate governance policies and practices, in line with good corporate governance practices, and changes in laws & regulations.
• Support in building and maintaining the organizational policy framework for all internal entities including procedures for new or amended policies and procedures (with regular monitoring and reviews and ensuring any changes are promptly incorporated into the relevant policies on the organization’s intranet) and coordination of the approvals.
• Periodic reviews and evaluations of the effectiveness of governance frameworks and practices.
• Conducting training sessions for employees for the awareness of the governance framework and the related policies to ensure adherence to the relevant applicable policies and procedures.
• Monitoring governance action items tracker.
• Ensuring Related Party Transactions (RPT) governance.
• Preparing quarterly Governance reports for the Audit Committee and Board.
• Implementing the recommendations from the internal department.

• Update and implement compliance framework, compliance policies and procedures to ensure adherence to applicable laws and regulations.
• Update Compliance Universe and Compliance registers.
• Monitor changes in laws and regulations and update compliance policies and procedures accordingly.
• Develop or update the annual compliance monitoring plan based on risk assessments and regulatory changes to ensure oversight for the upcoming year.
• Conduct monthly regulatory reviews to ensure that laws and regulations reflected in the universe are up to date and aligned with evolving regulatory requirements.
• Provide guidance and support to employees on compliance matters and serve as a subject matter expert.
• Collaborate with internal teams to ensure that compliance requirements are integrated into business processes and systems.
• Investigate and respond to compliance-related incidents, including conducting internal investigations and implementing corrective actions.
• Prepare and submit compliance reports to CEO, Audit Committee, the Board and regulatory authorities as required.
• Stay updated on industry trends and best practices in compliance to ensure the organization remains compliant with evolving regulations.
• Manages and responds to regulatory inquiries and inspections.
• Track and monitor the implementation of agreed corrective actions from prior compliance assessments.
• Deliver regular…