Introduction
Join this national insurance concern as The Head of Control for Internal Audit and be responsible for the development of the Internal Audit strategy and embedding a control consciousness culture across the Group.
Duties & Responsibilities
? Perform advanced level professional internal auditing work as a key component of the corporate governance structure as required by the Governance and Operational Standards for Insurers (GOI’s).
? Develop an internal audit strategy in line with the Group’s business priorities.
? Ensure that annual internal audit plans, based on priorities set by the Audit Committee are implemented and completed at a high standard, with an emphasis on both compliance and operational risk.
? Ensure internal audits are conducted in adherence with the requirements of Group policies, processes and procedures.
? Ensure that the Internal Audit function is maintained as an independent, objective assurance consulting activity designed to add value and improve the Group’s operations.
? Coordinate internal audit activities and plans with other internal and external providers of assurance and consulting activities to ensure proper coverage and minimise duplication of effort.
? Develop internal audit policies and procedures for the effective functioning of the internal audit department.
? Achieve the internal audit key performance indicators and ensure audits are conducted in accordance with the IIA standards, the requirements of the GOI’s and in a professional manner.
? Translate the vision and strategic objectives into Internal Audit operation imperatives and ensure integration with other departments to effectively support the achievement of strategic objectives.
? Ensure Internal Audit reviews that determine whether sufficient governance control exist and are being applied in the organisation in line with best practice;
? Give assurance to senior management and the Board on the adequacy, effectiveness and efficiency of internal controls.
? Evaluate the extent to which divisions are performing their control functions of planning, accounting, custodial and monitoring according to required standards, including complying with statutory requirements and Group policies.
? Highlight areas of non-compliance to management and recommend cost effective enhancements to systems and procedures to mitigate risks.
? Investigate, as appropriate, issues of financial control breakdown and/or fraud and manage to a successful conclusion.
? Complete fraud investigations and set up fraud prevention and fraud risk management systems.
? Develop excellent working relationships with all Internal Audit’s key stakeholders to facilitate open and honest communication as a trusted business partner.
? Prepare and manage the Internal Audit budget.
? Prepare reports for the Audit Committee and EXCO on audit findings and recommendations.
? Develop, lead and maintain a motivated and high-performance team.
? Implement performance management in the team through setting smart targets that contribute to the Group’s objectives. Tracking and monitoring the team’s performance.
? Mentor, manage and develop direct subordinates – including continuously providing feedback and coaching to ensure that team members perform at optimum productivity levels.
? Create and maintain a climate conducive to performance to ensure that the department delivers against objectives.
? Perform any other related duties as requested by management.
Desired Experience & Qualification
QUALIFICATION REQUIREMENTS FOR THIS POSITION:
? A relevant degree.
? A post graduate qualification will be advantageous.
? Registration with the Institute of Internal Auditors (IIA).
EXPERIENCE AND KNOWLEDGE REQUIRED FOR THE POSITION:
? Minimum 10 years internal audit experience in a senior management role, with a strong people, process and systems orientation.
? Proven experience in leading, coaching and developing an internal audit team.
? Thorough knowledge of applicable legislation, business information systems, and administration systems and procedures.
Package & Remuneration
R1 100 000 – R1 650 000 p.a. depending on experience
Desired Skills:
- internal audit
- Audit
- Internal control
- Internal Audit
- Institute of Internal Auditors
Desired Work Experience:
- More than 10 years
Desired Qualification Level & Accreditations:
- Degree
- Institute of Internal Auditors