Specialist, Regulatory Affairs

Job Description

To guide the department by reviewing rules and regulations applicable to the sector and suggesting changes; preparing the required regulatory filings; preparing position papers and providing regulatory advice to the management and independent regulator to ensure that the company is aware of and complies with all regulatory requirements.

 This job entails dealing with the defined regulations to be established by an independent regulatory body, however, with more competition and liberalization of the infrastructure sector setting in owing to Kingdom’s entry into WTO regime, the job is likely to have a critical influence on the overall business of Marafiq.
 Plays crucial role in deriving favourable regulatory decisions impacting the financial health of the organisation

Skills

Minimum Qualifications:
 University degree in Electrical or Mechanical Engineering, or finance or economics or accounting preferably with an additional management qualification.
Minimum Experience:
 10 years’ operational experience in a large utilities organisation.
 Including 3 years of exposure to regulatory frameworks within the utilities sector.
Job-Specific Skills:
 Broad understanding of financial and management accounting theory.
 Detailed understanding of all commercial and operational regulatory and legislative requirements within the utilities sector in the Kingdom of Saudi Arabia.
 Sound understanding of tariff-setting mechanisms and processes.
 Expert understanding of appeals filing protocols and processes.
 Broad understanding of all Marafiq operational and commercial processes.

About This Company

Established in terms of Royal Decree M/29 of 18 October 2000 (22 Rajab 1421 Hijra) as a joint-stock company, Marafiq is owned by its four major shareholders - the Royal Commission for Jubail and Yanbu (RC), Saudi Basic Industries Corporation (SABIC), Saudi Arabian Oil Company (Saudi Aramco), and the Public Investment Fund (PIF). Seven private-sector investors make up the remaining shareholders. Marafiq started operating as a private power and water utility company on 1 January 2003, with SR 2,5 billion of initial owner equity.

Marafiq's headquarters are in Jubail Industrial City on the Arabian Gulf, and the regional office is based in Yanbu Industrial City on the Red Sea. A representative office is located in Riyadh.

Marafiq's main objective, as stated in its charter, is to undertake the operation, maintenance, management, expansion and construction of seawater cooling systems, desalinated and treated water systems, sanitary and industrial wastewater systems and electric power systems to provide essential utility services to industrial, commercial and residential customers in the industrial cities of Jubail and Yanbu.