Reporting to the Director Internal Audit, the role is responsible for managing CIC Insurance Group’s Life Assurance subsidiary audit by providing independent, objective assurance and consultancy services in order to improve its overall operations, with specific emphasis on the effectiveness of risk management, control, and governance processes.
Key Responsibilities
Assess key risks and develop the annual audit work plan that reflects the company’s highest risks to be monitored by the audit function as determined by conducting a mandatory annual risk assessment using an enterprise-wide approach.
Evaluate subsidiary management’s processes of identifying and responding to business and financial risks.
Plan and execute audit assignments for subsidiaries and support.
Co-ordinate internal auditing activities and plans with other internal and external providers of assurance and consulting activities to ensure proper coverage and minimize duplication of effort.
Ensure timely completion of internal auditing engagements and reports are provided to the Audit & Risk Committee with minimum delay.
Review audit workpapers, reports, and findings to assess the quality, accuracy, and relevance of audit work.
Advise subsidiary management (by way of reports) on areas in need of improvement.
Prepare board papers for discussion with the Board Audit and Risk Committee(s).
Monitor and report on critical internal control and risk management issues to the Board Audit and Risk Committee(s).
Monitor the testing of the implementation of Board Audit and Risk recommendations and report back to the Board via reports.
Practice and promote a culture of high-quality standards, integrity, and ethics across the company and group at large.
Stay abreast of emerging trends, developments, and regulatory changes in the field of internal auditing and insurance to ensure the audit work remains current.
Perform any other duties as assigned by the Director, Internal Audit from time to time.
Qualifications
Bachelor’s degree in Business or a related field.
CPA (K) or Chartered Accountant certification.
Minimum of 8 years of experience in audit with a minimum of 2 years’ experience in a leadership capacity.
Key Competencies & Skills
Experience in Big 4 audit firms or an organization similar in size or larger than CIC Group is an added advantage.
Experience working with diverse and cross-functional teams.
Thorough understanding of Life Assurance business.
Knowledge of current technological developments/trends in area of expertise and knowledge of software requirements for audit of systems procedures.
Ability to work independently with minimum supervision.
Excellent communication skills – written, oral, presentation, report writing.
Strong decision-making skills and critical thinking.
Ability to maintain highest levels of integrity, objectivity, and confidentiality.
Willingness to learn and continuously expand technical and business skills in all areas.
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