The Role

Responsible for overseeing the internal audit function across the entireorganization, including human resources, fi nance, operations, and otherdepartments. This role involves assessing the effectiveness of controls,identifying risks, and providing recommendations for improvement.

The Challenge

The insurance industry is highly regulated, and internal audits play a crucial rolein ensuring compliance with various laws and regulations. The Internal AuditManager must navigate the complexities of the insurance industry whilemaintaining an objective and independent perspective.

Responsibilities:

1. Audit Planning: Develop and execute annual audit plans to assess the effectiveness of controls across the organization.

2. Audit Execution: Conduct audits of various departments, including fi nance, operations, human resources, IT, and compliance.

3. Risk Assessment: Identify and assess organizational risks, including fi nancial, operational, compliance, and reputational risks.

4. Reporting: Prepare audit reports that summarize audit fi ndings, recommendations, and management responses.

5. Continuous Monitoring: Develop and implement continuous monitoring programs to identify emerging risks and trends.

6. Training: Provide training to employees across the organization on internal audit best practices and compliance requirements.

7. Team Management: Lead and develop a team of internal auditors.

8. Supports Board of management by providing advice & support in the Company’s activities/internal controls.

9. Take lead in reporting regularly to audit committee.

10. To communicate with each auditee department and follow-up on outstanding fi ndings.

11. To submit the documents required by the regulator on time Including assuring accuracy of information/ requirements and be held responsible in addition to providingofficial approved documents to the regulator.

12. Defi ne the department’s strategy consistent with the company’s strategy, shareholders as well as regulatory.

Technical - Functional Requirements:

1. Internal Audit Standards: Knowledge of internal audit standards and methodologies, such as the Institute of Internal Auditors (IIA) Standards.

2. Risk Assessment: Ability to identify and assess risks across various business functions.

3. Data Analysis: Profi ciency in data analysis techniques to support audit fi ndings.

4. Financial Accounting: Understanding of fi nancial accounting principles and practices.

5. IT Auditing: Knowledge of IT controls and auditing techniques.

6. Compliance: Understanding of relevant industry regulations and compliance requirements.

7. Communication: Effective communication skills to interact with employees, management, and external auditors.

8. Team Management: Ability to lead and develop a team of internal auditors.

Behaviors - Values Requirements:

1. Integrity: Adherence to ethical principles and high standards of professional conduct.

2. Objectivity: Ability to conduct audits independently and objectively.

3. Analytical Thinking: Strong analytical skills to identify and assess risks.

4. Problem-Solving: Ability to identify and resolve issues related to controls and compliance.

5. Continuous Learning: Commitment to staying updated on internal audit standards, industry trends, and best practices.

6. Teamwork: Ability to collaborate with employees across the organization.