Internal Audit Officer at the African Reinsurance Corporation (Africa Re)

The African Reinsurance Corporation (Africa Re) is the leading African reinsurance company with headquarters in Lagos (Nigeria). Africa Re has six regional offices: Casablanca (Morocco), Abidjan (Côte d’Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Ebene (Mauritius). The Corporation equally has two subsidiaries: African Reinsurance Corporation South Africa Ltd in Johannesburg (South Africa), Africa Retakaful in Cairo (Egypt) and one Local Office in Addis Ababa (Ethiopia).

Africa Re has a broad-based shareholding comprising 41 African member States, the African Development Bank (AfDB), 114 African insurance and reinsurance companies and three non-regional shareholders, including leading global insurers and reinsurers. The Financial Strength and Credit Rating of Africa Re is A by A.M. Best and A – by Standard & Poor’s.

We are recruiting to fill the position below:

Job Title: Internal Audit Officer

Location: Lagos, Nigeria

Job Responsibilities

• The successful candidate will actively support the internal auditing system operated by the Corporation and contribute to preparing audit reports that give assurance to management and the Audit Committee of the Board of Directors on the effectiveness and adequacy of the risk management, controls and governance processes in all the entities of Africa Re.

Duties / Job Details
The incumbent will carry out the following functions:

• Support in the review of all business units (regions, subsidiaries) and central departments.
• Ensure compliance with the Corporation’s policies and procedures
• Assess the adequacy of existing policies and procedures, identify lacks and improvements and share best practices.
• Evaluate the reliability and integrity of information.
• Discuss with the process owners audit issues identified and related action plans.
• Assist in the preparation of audit reports including relevant recommendations to management on weaknesses identified.
• Follow-up on the progress of implementation of recommendations and agreed action plans.
• Support in carrying out special reviews/investigations upon request by management.
• Support the team in working with other internal and external assurance providers.
• Perform other job-related duties assigned by the supervisor.

Qualification and Experience

• Bachelor's Degree in Accounting, Business Administration, Insurance, or equivalent.
• Minimum of 3 years of relevant work experience in Internal Audit/Control in the Insurance and/or Reinsurance industry. Experience in an audit firm will be an added advantage.
• Additional professional qualifications/certifications in Audit and Accounting (CIA, CPA, ACCA, ACA, etc.) and working knowledge in the French language shall be an added advantage.
• Relevant Working Exposure in a Multicultural Environment will be an added advantage.

Competencies and Additional Requirements:

• Good theoretical and practical knowledge of the internal audit standards, insurance and reinsurance business.
• Good theoretical and practical knowledge of reinsurance technical accounting.
• Ability to carry out audit reviews with minimum supervision and deliver quality audit reports.
• Basic knowledge and understanding of reinsurance applications and Oracle ERP will be an added value.
• Confidentiality, unquestionable integrity and proven sense of responsibility.
• Knowledge of Microsoft Office products such as Office 365, SharePoint, and Teams.
• Knowledge and practical experience of data analytics applications like ACL/Galvanize, and audit software like TeamMate+ will be an advantage.
• Ability to work under pressure, without close supervision, and within established timeframes.
• Ability to multitask and manage change.
• Excellent problem-solving skills (i.e., conceptual, and analytical thinking).
• Outstanding interpersonal and communication skills; ability to communicate effectively with technical and non-technical audiences.
• Good team player with proven leadership and managerial experience.
• Establishes and maintains effective working relationships in a multicultural, multi-ethnic environment.

Additional Requirements:

• Nationals of one of the 42 member States of Africa Re.

Salary & Benefits
The successful candidate shall have the following benefits:

• Competitive Basic Salary on the Corporation’s Support Staff Grade Level.
• Variable Pay (Annual Performance Bonus).
• Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the Employer).
• Children Education Subsidy for each child up to 26 years (maximum 4 children).
• Medical Cover for staff and family.
• Housing Allowance.
• Inflation Adjustment (Cost of Living Allowance), which may increase or decrease depending on the economic situation, paid in local currency.

Application Closing Date
30th September, 2023.

How to Apply
Interested and qualified candidates should:
Click here to apply online

Note

• Africa Re is an equal-opportunity employer and offers good working environment commensurate with international organizations.
• The Corporation reserves the right to appoint at the advertised grade level or at any other level that may suit the profile, qualifications, and experience of the successful candidate.