Vacancy at ARM Life for Head Internal Audit
ARM Life the Insurance subsidiary of Asset & Resource Management Company Ltd (ARM) is recruiting to fill the position below:
POSITION : Head Internal Audit, Life
- Responsible for developing and delivering the Company’s internal audit strategy and plan and ensure compliance with established policies, procedures and regulatory requirements throughout the company.
- Foster a control conscious environment within the Company by providing reliable, valued and timely assurance on corporate governance, risks and controls whilst enhancing the overall control culture.
- Provide Management and the Board Audit Committee with a quarterly reports on the key weaknesses in the Company’s Internal Control Environment and recommendations for improvement.
- Along with the Internal Control Unit, participate in Risk & Control Self-Assessment Workshops and provide objective assessment of key controls.
- Carry out continuous review and development of Internal Control policies ensuring continued relevance to the Company’s operating environment.
- Where control deficiencies exist, propose risk mitigation and remediation plans, and communicate the remediation plan with the responsible process owners.
- Liaise with Process Owners and Business Managers to ensure the timely implementation of remedial actions to address identified exceptions.
- Escalate instances of persistent control issues to Senior Management.
- Perform special investigations when necessary to safeguard firm assets (e.g., fraud).
- Implement a methodology for consistent identification, monitoring and reporting of ‘red flag’ areas within the firm’s operations.
- Ensure the reporting of identified operational risk events via the OpRisk Manager by ICOs.
- Ensure compliance with existing policies and procedures, identifying & proposing modifications as needed.
- Provide training to Employees on appropriate audit and control activities
- Provide oversight of monitoring activities performed by the auditors.
- Institute efficient staff deployment strategies that aligns staff quality with the risk rating of the units within the scope of the Internal Audit Unit’s audit activities.
- Plan and supervise the execution of the Internal Audit Unit’s audit activities including the preparation and execution of an Internal Audit plan, scheduling and assigning work and estimating resource needs.
- Evaluate and examine policies, procedures and systems in place across the Company to ensure that assets are protected
- Evaluate the reliability and integrity of information and accounting records and ensure effective and efficient use of resources across the Company
- Review the compliance of business units with policies, procedures and regulatory requirements.
- Plan individual audit assignments and ensure they are completed in an effective and efficient manner and within specified timescales.
- Devise internal audit programmes and comprehensive tests to cover identified auditable areas and ensure adequate controls are in place to mitigate identified risk whilst carrying out audit reviews.
- Assist management and staff in identifying controls which mitigate risks within their business areas and ensure that adequate processes and controls exist.
- Report results and make recommendations to management where control weaknesses are identified in policy, processes or systems.
- Ensure the maintenance of evidence and well-structured documentation of work which fully supports work carried out and conclusions reached.
- Supervise the follow up on the progress of implementation of recommendations and directions to Senior Management.
- Maintain up to date knowledge specialist business knowledge for departmental benefit.
- Encourage and participate in any process or internal control improvement initiatives.
- Collate periodic reports on results of audit reviews conducted and provide to the MD of ARM Life and the Group Head, Risk Management & Internal Audit.
- Ensure appropriate training, orientation, and development of auditors.
- Conduct any review or task requested by Management.
- Bachelor's degree in Accounting or Finance related discipline
- ACA qualification or its equivalent
- 8 - 12 years of accounting or audit experience
- A previous supervisory role in an audit or control function
- Knowledge of the local and global financial service industry, including regulations, legislations, and operating environment.
- Sound knowledge of the life insurance industry and key business processes. Knowledge of financial market operations.
- Understanding of non-bank financial service operations, policies, and procedures.
- Good financial accounting and reporting skills.
- Audit, fraud assessment and internal control - investigation & review skills.
- Anti-Money Laundering skills.
- Experience with automated financial systems, including a general ledger and financial reporting software.
- Good knowledge of MS Excel as an analytical tool and other MS Office Applications, including macro driven processes.
- Assertive, and possesses ability to inspire and drive team performance.
- Team player
- Good communication skills (oral & written).
- Problem solving and analytical abilities.
- Integrity and good decision making ability.
- Exceptional attention to detail.
- The pursuit to constantly improve current processes and procedures.
- Good interpersonal, presentation and facilitation skills.
- Self motivated with a strong drive, and commitment to achieving agreed objectives.
- Ability to work under tight deadlines while performing multiple detail-oriented tasks.
- Ability to coach and groom team members.
How To Apply
Candidates should send their Applications to:firstname.lastname@example.org with “Head, Internal Audit” as the subject
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