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  • Latest Vacancy at African Reinsurance Corporation (Africa Re)

  • Posted on: 7 December, 2014 Deadline: 31 December, 2014
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    Vacancy announcement for the position of Director of Internal Audit

    The African Reinsurance Corporation (Africa Re) is an International Financial Institution with Headquarters in Lagos (Nigeria). Africa Re has six Regional Offices in Casablanca (Morocco), Nairobi (Kenya), Abidjan (Côte d’Ivoire), Port Louis (Mauritius), Lagos (Nigeria) and Cairo (Egypt); a Local Office in Addis Ababa (Ethiopia) as well as two subsidiary companies: Africa Re South Africa in Johannesburg (South Africa) and Africa Retakaful in Cairo (Egypt). The Corporation is owned by 41 member States of the African Union (AU), the African Development Bank (AfDB), the International Finance Corporation (IFC), German Investment and Development Corporation (DEG), PROPARCO (subsidiary of the Agence française de développement), IRB-Brasil Re and 109 African insurance and reinsurance companies.

    Africa Re announce the vacancy of the following position: Director of Internal Audit

    Director of Internal Audit


    I. Job Details

    • Manage the internal audit activities to ensure it adds value to the Corporation.
    • Evaluate and contribute to the improvement of risk management, control, and governance processes using a systematic and disciplined approach.
    • Assist the organization in maintaining effective controls by evaluating their effectiveness and efficiency and by promoting continuous improvement.
    • Assess and make appropriate recommendations for improving the governance process in the Corporation.

    II. Grade and Duties

    The post is an ES 1 grade level.
    The duties of the Director of Internal Audit shall comprise amongst others:

    • Establish risk-based plans to determine the priorities of the internal audit activities consistent with the Corporation’s goals.
    • Communicate the internal audit plan and resource requirements, including significant interim changes, to executive management and to the board for review and approval.
    • Ensure that internal audit resources are appropriate, sufficient and effectively deployed to achieve the approved plan.
    • Establish policies and procedures to guide the internal audit activity.
    • Share information and coordinate activities with other internal and external providers of relevant assurance and consulting services to ensure proper coverage and minimize duplication of efforts.
    • Report periodically to the board and executive management on the internal audit activity’s purpose, authority, responsibility and performance relative to its plan. Reporting should also include significant risk exposures and control issues, corporate governance issues and other matters needed or requested by the board and executive management.

    III. Location

    The successful candidate shall be based in Lagos (Nigeria).

    IV. Main Competencies required for this position

    • Establish trust and thus provide the basis for reliance on his judgment - high integrity and a good sense of responsibility.
    • Exhibit the highest level of professional objectivity in gathering, evaluating, and communicating information about the activity or process being examined.
    • Make a balanced assessment of all the relevant circumstances and should not be unduly influenced by his own interests or by others in forming judgments
    • Respect the value and ownership of information he receives and does not disclose information without appropriate authority unless there is a legal or professional obligation to do so.
    • Apply the knowledge, skills and experience needed in the performance of internal auditing services.
    • Exhibit good analytical and reasoning skills.
    • Capacity for planning.
    • Exhibit the ability to take initiatives and decision.

    V. Qualifications and professional Experience

    Applicants shall be holders of:

    • First university degree plus Masters in relevant field plus 9 years post qualification relevant qualitative work experience of which 4 must have been at management level, preferably in an international commercial organization.
      First university degree plus 13 years post qualification relevant qualitative work experience of which 4 must have been at management level, preferably in an international commercial organization.
    • Have a sound knowledge of computer tools – word processing, spreadsheets and presentation.
    • Relevant professional qualifications in Anglophone countries include ACCA, CPA, CIA, CISA etc and their equivalents in Francophone countries.

    Applicants must be:

    • Nationals of Member States of Africa Re;
    • Aged between 35 years at least and 45 years at most;
    • Fluent in one of the two working languages of the Corporation (French or English). A good knowledge of both languages will be an added advantage.

    VI- Benefits and salary

    The successful candidate shall have the following benefits:

    • Competitive basic remuneration comprising of fixed pay, variable pay, medical cover, children education subsidy, pension contributions, etc.
    • Other details to be communicated to selected candidates for interview.

    Method of Application

    Applications which should comprise a detailed curriculum vitae, a letter of interest, and a recent passport size photograph (4 x 4) should be sent to:

    The Managing Director
    African Reinsurance Corporation
    Africa Re Building
    Plot 1679, Karimu Kotun Street,
    Victoria Island,
    PMB 12765

    Tel: (234–1)2626660-2/ 2663323/618820
    Fax: 2626664/2663282

    Closing date for applications is 31 December 2014.

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