Job Description
Job Details
The role requires the individual to have full accountability, responsibility and authority for directing and managing the Internal Audit function in UIIOM on behalf of the organisation in line with the Group Internal Audit methodology and regulatory requirements. This includes overall responsibility for developing and execution of a risk based audit plan, follow-up of audit actions, management of local Internal Audit resources and coordination with Group Internal Audit specialist resources. The jobholder is responsible for reporting on Internal Audit matters to the Audit Committee, CEO, Group Head of Internal Audit and other stakeholders as needed. Some travelling may be required.
Key Responsibilities
Design of Internal Audit Plans (including seeking approval from the Group Head of Internal Audit and the UIIOM Board on the delivery of internal audit review), planning and managing the execution of audits.
To plan, undertake and lead audits of financial, operational and risk-based areas to ensure compliance with Group Internal Audit Methodology and best practice as well as the company policies and procedures.
Collaborate with the Group Leadership Team in developing and maintaining a robust Group Internal Audit Methodology that is continuously reviewed to ensure alignment with best practices and professional Internal Audit Standards.
Presentation and submission of internal audit documents to the Audit Committee for review, comment and approval e.g., new Internal Audit related policies, Internal Audit progress reports covering key findings, issue/action remediation.
Provide quarterly and annual assurance opinions on the internal control environment and key systems of internal control.
Deliver assurance and advisory audits which provide insight on the effectiveness of the Risk Management, Governance and Internal Control Framework processes.
Evaluate the potential for the occurrence of fraud and manage fraud risk.
Liaise and coordinate with other Control Functions where possible, to coordinate assurance.
Assess the adequacy of controls in place to ensure compliance with both legal and regulatory requirements, making appropriate recommendations, where necessary.
To effectively liaise with Group Head of Internal Audit on implementation of group policies relating to internal Audit and governance (to ensure consistency of approach between company standards).
Manage and develop relationships with all Stakeholders ensuring that there is open communication and feedback.
Define Internal Audit recommendations with clarity of responsibility and timelines which contribute to the improvement of risk management processes across the business.
Management of Internal Auditors based in Isle of Man including allocation of tasks and review of audit deliverables.
To act as the main / central contact point for the UIIOM Executive Committee for all Internal Audit matters.
Lead / manage specific investigations, as requested.
Preparation of reports for the Regulators where this is required / specifically requested.
Core Competencies
Strong business acumen with a strategic and advisory perspective.
Dynamic, motivated to move forward the internal audit function and carry out audit activities.
Comprehensive understanding of internal control, risk management and governance processes.
Focus on business improvement as well as rigorous audit checks.
Ability to make recommendations in relation to the implementation of the Internal Control Model.
Self-motivated and able to work with the maximum level of independence from the operational structures.
Strong presentation skills and ability to communicate effectively at an executive level.
Combined analytical and persuasion skills with a comfort and flexibility level to work with all levels in the organisation.
Excellent organisation, written/verbal communication, analytical and presentation skills.
Strong relationship building and influencing skills
Ability to be a key trusted adviser to internal clients and stakeholders.
Proficiency in assimilating complex issues.
Experience and qualifications
Relevant qualifications in internal audit, accounting, finance or business. CIA/CMIIA/ACA/ACCA or Actuarial qualification;
Hands on internal audit experience in insurance or banking (minimum five years PQE) or equivalent external audit experience with a Big 4 firm with additional commercial experience, preferably in a multinational environment, or a combination of both;
Solid knowledge of local and international market practices, rules and statutory regulations;
Excellent analytical, interpersonal, time management and communication skills.
Related Jobs (9)
-
Salary Negotiable
