Summary
Date Posted: Monday, October 09 2023, Base Salary: Not Disclosed

JOB DETAILS:
Job Purpose
Assess and evaluate the effectiveness of internal controls, risk management practices, and compliance with regulatory requirements.

Key Responsibilities
• Audit Planning: Collaborate with the team and management to develop annual audit plans based on risk assessments, regulatory requirements, and business priorities. Identify key areas to be audited and establish audit objectives and scope.
• Risk Assessment: Evaluate the effectiveness of the company's risk management practices. Identify potential risks and assess the adequacy of controls in place to mitigate those risks. Provide recommendations for risk mitigation and improvement of controls.
• Internal Control Evaluation: Review and evaluate the adequacy and effectiveness of internal controls, including financial, operational, and compliance controls. Identify control weaknesses, gaps, or deficiencies and propose recommendations for improvement.
• Financial Auditing: Conduct financial audits to ensure accuracy, reliability, and compliance with accounting principles, policies, and regulatory requirements. Review financial statements, general ledger accounts, and supporting documentation. Identify financial irregularities, errors, or fraudulent activities.
• Operational Auditing: Assess the efficiency and effectiveness of operational processes within the insurance company. Review underwriting, claims, policy administration, and other operational functions. Identify process bottlenecks, inefficiencies, and opportunities for improvement.
• Compliance Auditing: Evaluate the company's compliance with relevant laws, regulations, and industry standards. Ensure adherence to internal policies and procedures. Identify non-compliance issues and propose corrective actions.
• Reporting and Documentation: Prepare detailed audit reports highlighting findings, recommendations, and action plans. Present audit results to management and relevant stakeholders. Maintain comprehensive and accurate audit documentation.
• Follow-up and Monitoring: Track the implementation of audit recommendations and ensure appropriate action is taken. Monitor progress on remediation efforts and provide periodic updates to management on the status of corrective actions.
• Stakeholder Collaboration: Collaborate with various stakeholders, including management, department heads, and external auditors. Provide guidance and support on internal control matters. Build relationships and communicate effectively to drive audit initiatives.

Requirements
Knowledge & Experience
• Bachelor’s degree in accounting, Finance, Business Administration, or a related field.
• Relevant professional certification such as Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or similar.
• A minimum of 3 years of experience in internal auditing, preferably within the insurance industry.
• Strong knowledge of insurance operations, regulations, and accounting principles.
• Familiarity with risk management frameworks and internal control methodologies

General Skills
• Analytical thinking and problem-solving skills.
• Excellent attention to detail and the ability to work independently.
• Effective communication and interpersonal skills.
• Proficiency in using audit software, data analysis tools, and MS Office applications.
• Continuous Innovation, Adaptability and Problem-Solving skills.


Work Hours: 8

Experience in Months: 36

Level of Education: Bachelor Degree

Job application procedure
Interested applicants Click here to apply

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