Latest Vacancies at Guinea Insurance Plc

Reports To: MD/CEO & Chief Compliance Officer

Job Overview

To design, implement, and monitor a robust internal control and compliance framework that ensures adherence to regulatory requirements, mitigates operational and financial risks, and safeguards the company’s assets. The role is responsible for strengthening governance processes, ensuring compliance with NAICOM regulations and other statutory requirements, and promoting a strong control culture across the organization.

Job Responsibilities.

• Develop, implement, and continuously improve the company’s internal control framework in line with industry’s best practices.
• Conduct periodic reviews of business processes to identify control gaps and recommend enhancements.
• Ensure proper documentation of policies, procedures, and control activities across all departments.
• Monitor the effectiveness of internal controls and recommend corrective actions where deficiencies are identified.
• Ensure full compliance with NAICOM guidelines, Insurance Act provisions, AML/CFT regulations, and other applicable laws.
• Develop and maintain a compliance calendar and track adherence to all regulatory filings and obligations.
• Liaise with regulatory authorities and coordinate responses to compliance-related inquiries and inspections.
• Conduct compliance risk assessments and implement mitigation strategies.
• Identify, assess, and monitor operational, financial, and regulatory risks.
• Collaborate with business units to embed risk management practices into daily operations.
• Prepare periodic internal control and compliance reports for Executive Management and the Board Audit/Risk Committee.
• Develop dashboards and key risk indicators (KRIs) to monitor control effectiveness.
• Escalate significant control breaches and compliance issues promptly.
• Develop, review, and update company policies in line with regulatory requirements and evolving risks.
• Ensure effective dissemination and understanding of policies across the organization.

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)
• Three(3) to five (5) 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
• Ability to keep updated with industry, regulatory changes and professional standards in internal controls
• 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.

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Key Responsibilities:

• Assist in the implementation and documentation of internal control policies and procedures. 
• Support periodic reviews and basic audits to ensure compliance with internal policies and regulatory requirements. 
• Help identify control gaps, process weaknesses, and potential risk areas, and escalate findings appropriately. 
• Monitor selected financial and operational activities to detect irregularities or control breaches. 
• Assist in preparing reports on audit findings, risk observations, and control issues for management review. 
• Support control activities, including monitoring outstanding premiums and following up on claims process. 
• Maintain proper documentation of control activities, audit work, and supporting records. 
• Stay informed on relevant regulatory guidelines affecting the insurance industry. 
• Collaborate with various departments to ensure adherence to established policies and procedures. 
• Provide administrative and operational support during internal reviews and control assessments.

Qualification/Experience Requirement(s):

• Bachelor’s degree in Accounting, Finance, Economics, or a related field.
• Relevant professional certification (e.g., ACA or its equivalent is an advantage).
• Minimum of 2 years’ experience in internal control and audit, preferably in the insurance or financial services industry.
• Strong analytical and problem-solving skills.
• Excellent attention to detail and ability to identify control weaknesses.
• Proficiency in Microsoft Office and audit-related software.
• Good communication and report-writing skills