Team Lead, Compliance and Internal Control at Coronation Insurance Plc

Key Duties and Responsibilities

• Support the implementation of the company’s internal control system.
• Conduct audits to verify whether departments follow established procedures.
• Support the implementation of risk management and compliance processes throughout the organization.
• Identify risks within the organization and develop preventive strategies
• Make a meaningful contribution to the development of the company's overall approach to controls testing and assurance techniques
• Contribute to the development of the company's overall approach to controls testing and assurance techniques.
• Detect and eliminate fraud by ensuring compliance with relevant regulations
• Identify the range of factors that can influence the perception of risk.
• Analyze monthly financial performance to identify key drivers and the economic/business implications.
• Conduct analysis to assess business performance and to monitor risk.
• Aware of areas of high fraud risk (e.g., procurement, contracts, payments).
• Report on areas where controls could be instituted to mitigate the risk of fraud.
• Identify reporting gaps and works with the business to identify new reports to meet business needs.
• Ensure appropriate, robust action plans are in place to address the findings of governance reviews and that these are effectively monitored as part of performance management arrangements

Key Performance Indicators

• Timeliness in meeting deadlines and schedules.
• Number of internal control breaches identified
• Compliance with standards and guidelines.
• Number of control improvement initiatives
• % of issues found and recommendations made
• Time between internal control deficiency occurrence and reporting
• Number of (major) internal control breaches
• % of key controls of the overall control environment.
• Timeliness and quality of compliance and control reporting

Key Requirements
Education and Work Experience:

• BSc / BA in law, Finance, business administration or related field.
• Possession of relevant professional certifications is an added advantage( CISA, CIMA, ACCA, ACA etc)
• Eight (8) to ten (10) years experience in compliance and internal control

Skills and Competencies:

• Knowledge of regulations and associated company policies related to internal controls and governance and how these policies are applied within the organization
• Ability to documents processes, perform risk or control assessments to identify risk areas and mitigations and control design weaknesses
• Understands the methods, tools and techniques used for assurance and audit processes
• Ability to carry out control testing process by following the company testing approach, including recording results and developing conclusions based on internal guidance
• Ability to keep updated with industry, regulatory changes and professional standards in internal controls and audits
• Excellent report writing skills.
• Must be self-solution driven, proactive and have acceptable knowledge of the business environment.
• Attention to detail.
• An analytical mind able to “see” the complexities of procedures and regulations.