Head of Internal Audit
OVERALL PURPOSE OF THE ROLE:
To establish the company’s third line of defence in the provision of risk management. This is to be achieved by providing independent and impartial assurance, whilst adding value to the company, on the governance, risk management and internal control processes in relation to the organisation’s defined goals, strategy and objectives.
Responsible for ensuring that an effective governance framework is in place and that the Group’s statutory and legal obligations are satisfied.
Main activities and tasks
- Plan, organise and carry out the internal audit function to assess controls, operational efficiencies and compliance with selected policies, procedures and regulations for UK General Insurance Limited,
- Report risk management issues and internal controls deficiencies identified directly to the Audit Committee and provide recommendations on the systems and procedures being reviewed as well as establishing a process to monitor the implementation of those recommendations.
- To independently assess the management of the Group’s capital and liquidity risks.
- To conduct any reviews or tasks requested by the Audit Committee, Board or Chief Executive provided such reviews and tasks do not compromise the independence or objectivity of the internal audit function.
- Ensure work papers are adequately documented and audit evidence is sufficient. Prepare audit reports for the Audit Committee and the Board.
- Elicit information from knowledgeable internal/external sources about areas and functions to appropriate audit direction/methodology. Research all pertinent data (law, current issues, work papers, reports).
- Assist external auditors as appropriate and ensure each party is not only aware of the other’s work but also well briefed on areas of concern. Assist in coordinating the company’s response to audit findings and recommendations.
- Maintain an open, constructive and co-operative relationship with the regulators, management and Audit Committee.
- Conduct training workshops to promote awareness of internal controls and to discuss changes in policies that will impact the system flow of information.
Required skills and experience
- Significant experience in auditing or accounting with some supervisory experience is strongly desired.
- Proven leadership skills and the ability to motivate others through influence and direct management.
- Have strong communication skills and be able to persuade and influence Executives and colleagues at a senior level.
- Strongly results-focused with an innovative approach to business problems and solutions.
Required education and qualifications
Graduate calibre with appropriate professional qualifications (CCAB recognised accounting qualification ACA / CIMA / ACCA or a member of the Chartered Institute of Internal Auditors.)Able to work across all functional and cultural boundaries.