Group Head, Internal Audit at Waica Reinsurance

Job Purpose

• The Head, Internal Audit Role is responsible for the Group’s strategic risk-based internal audit plan and managing the internal audit function in accordance with the Group’s internal audit charter and the professional standards for internal auditing promulgated by the Institute of Internal Auditors.
• The work will include managing audits including evaluating internal controls, performing, and documenting audit test work, communicating audit issues to management, writing audit reports, identifying and evaluating emerging areas of organizational risk for the Group.
• The Head, Internal Audit reports functionally to the Group Board, Risk Management, Audit and Internal Compliance Committee and administratively to the Group Chief Operating Officer.

Job Duties and Responsibilities
Strategic:

• Develops the Group Strategic Plan for the Audit Function to improve financial and operational management of the business.
• Contributes to the formulation and implementation of Group strategy.
• Implement the approved strategy through utilization of internal approved policies and procedures and various regulatory frameworks in countries of operation.
• Research on new ideas and approaches and modern business practices for the Audit function for recommendation to Group Chief Operating Officer.
• Drafts and analyses relevant reports for the Group and Subsidiaries to enable sound decision making.

Operational:

• Develop the Audit Plan in line with the Audit Policies, including programmes and procedures to evaluate the effectiveness and adequacy of the Group’s internal control environment.
• Plan, organize, direct, and control the day-to-day internal audit activities ensuring that all audit work is performed independently with due diligence and timeliness.
• Collaborate with External auditors to ensure effectiveness of service delivery and appropriate resolution of findings/issues identified.
• Carry out quality assessment and quality control checks on daily operational activities.
• Prepare internal audit reports for distribution to the Board and regulatory authorities.
• Make presentations to the Board on internal audit findings
• Collaborate with Heads of Departments to resolve audit exceptions.
• Monitor the evaluation of compliance to statutory and regulatory requirements.
• Develop organizational competence framework for the audit function to integrate best practices in workflow processes, measurement, technologies, and resource deployment.
• Develop and undertake periodic reviews of the Internal Audit Manual.

Qualifications

• Have a First Degree in Accounting/Finance or Equivalent
• Professional membership CA, ACCA or equivalent
• A Master’s Degree in Business Administration (MBA) or equivalent is an added advantage.

Experience:

• Candidates should have at least 10 years post qualification experience with at least 5 years in a Managerial role in the Audit Function.

Competencies:

• A strategic thinker, results oriented and resilient individual who will drive through and implement the audit plan with flexibility.
• Effective communicator with the ability to persuade and influence
• Highly motivated individual, with ability to work under pressure
• Cross cultural and cross functional skills and a team player.