Manager, Internal Audit at AIICO Insurance Plc

AIICO Insurance Plc is an insurance, pensions management, and asset management Group in Nigeria, with market-leading positions in life assurance, annuity, general insurance, special risks, pension management, health insurance, and asset management. Established in 1963, AIICO Insurance Plc has a strong retail distribution network and is listed on the Nigerian Stock Exchange.

We are recruiting to fill the position below:

Job Title: Manager, Internal Audit

Location: Lagos
Job Type: Full-Time

Job Purpose

• Support the Chief Internal Auditor in planning, executing, and reporting on operational, IT, financial, regulatory and compliance related audits/reviews.
• Prepare the functional budget for the Group Internal Audit function and submit the same to Chief Internal Auditor for approval.
• Manage the entire audit process including plan preparation, organization of timelines and milestones, opening presentation, planning phase in the field, execution of fieldwork, and closing presentation to the Board Audit Committee.
• Conduct regular and systematic audit of financial records and transaction, operational processes, payments related transactions to track financial control risks and potential liabilities.
• Work closely with Heads of businesses/functions and external auditors to maintain records in compliance with applicable laws and code of corporate governance.
• Drive speedy closure of exceptions reported by external auditors and prepare relevant reports for presentation to the Board Audit Committee.
• Prepare reports for timely submission of reports to the concerned audited departments and follow-up regarding action taken on audit observations.
• Prepare inputs to the Board Audit Committee for development of action plans to achieve visible improvements to controls, risk management and business processes at the parent and subsidiary companies; monitor the progress of these action plans.
• Prepare report on changes in operational policies, systems and processes proposed by internal departments; provide recommendations on possible risks and gaps to ensure that operational policies, systems, and processes are fool proof.
• Develop policy on whistleblowing, process, accountability, and protection of the whistle-blower; conduct proper investigation of claims.
• Conduct organization-wide training programs to build a thorough understanding of audit requirements within various functions.
• Participate in the audit of SBUs/functional areas within the parent and subsidiary companies.
• Perform value-for-money audits for the company’s projects and investments.
• Conduct investigations and spot checks as required.
• Support the development and execution of the company’s annual audit work plan.
• Develop and implement tools to analyze data for improving audit efficiency and effectiveness, (including for risk assessments).
• Providing audit advisory and consultative services on to all within and outside the company.
• Maintain a database of all audit data, reports, queries, and other related documentation.

Desired Qualifications

• A good First Degree or equivalent in Computer Science, Engineering, Accounting, Banking and Finance or any other quantitative discipline from a reputable institution.
• Relevant professional qualification e.g., ACA, ACCA, CISA, CIA.
• Good appreciation of IFRS Accounting Policies, Insurance, Capital Markets, HMO, etc.
• Proficiency in the use of Microsoft Office applications, i.e., MS Word, Excel, etc.

Desired Experience:

• Minimum five (5) years relevant experience in a financial services institution or top auditing firm.

Key Competencies:

• Good knowledge of the regulatory environment
• Strong quantitative, problem-solving, and analytical skills
• Strong knowledge of:
  • Internal Audit processes
  • Auditing standards and guidelines.
• Good report writing and communication skills
• Data extraction and analysis skills
• Knowledge of insurance operations
• Internal audit practice
• Fraud detection and control
• Investigation skills
• IT appreciation and application
• Insurance product knowledge
• Coaching and developing others
• Planning and organizing
• Stakeholders Engagement and Management

Application Closing Date
Not Specified.