In line with Wafra International Investment Company’s efforts to reconfigure its organization structure pursuant to the resolution issued by the Board of Directors, Maryam Al-Otaibi, Senior Human Resources Development Officer, reported that organizational changes have been made to the company’s administrative structure, and a new organizational structure has been established for all departments.
Al-Otaibi said in a press release, that the company’s new organizational structure keeps pace with its strategy, extending until 2023, which is focused on employees as the most valuable assets, adding that the changes included renaming some departments and the transfer of oversight for other departments, in addition to changing a number of job titles, and appointing new employees. This step is part of the company’s plan to improve its performance, enhance productivity and equipping its administrative structure to implement the new business strategy.
In this regard, Al-Otaibi revealed that the new market maker department was added to the organizational structure, as Wafra is considered one of the first investment companies to launch such a key department, especially since the market maker ensures the provision of supply and demand forces of one or more listed securities in line with the regulations issued and approved by the Capital Markets Authority (CMA), noting that the market maker provides liquidity by providing a mechanism for buying and selling the securities.
Al-Otaibi announced the launch of the “SAP” system, covering all the company’s sectors of, adding that it is a new generation of the SAP commercial program implmented by “Wafra” as part of its digital transformation plan, allowing all business sectors to use the latest technologies, as well as to support the capabilities of the company’s employees and enhance means of communication and cooperation.
Al-Otaibi added that the digital transformation of companies and institutions has currently become a necessity, as it means developing their operations by changing the way they work, relying on an integrated set of solutions that facilitate operations and simplify organizational management procedures, enabling employees to perform their daily tasks effectively.
In conclusion, Al-Otaibi stressed the importance of this step, which comes in line with “Wafrah International Investment” Company’s strategy to adopt a work methodology that suits the digital era, which is witnessing rapid technological progress, and in an effort to advance the process of digital transformation and employ the latest technologies in terms of characteristics and features that contribute to supporting all sectors. She highlighted that all regular operations will be migrated to the internet to enable the company to work as one comprehensive unit within a unified system that ensures the implementation of various operations in an organized practical framework with the possibility of effective time management. That will help in applying the company's directions represented in laying the foundations of innovation at work and integrating technology to develop the company’s operations, adding that the new departments were created to serve larger investment sectors.