Internal Audit, Quality Assurance Manager at CIC Insurance

PURPOSE:

Responsible for ensuring that the internal audit function operates effectively and efficiently within the set International Professional Practices Framework (IPPF) standards and best practices. The role holder will oversee the quality assurance and improvement program for the internal audit department, providing guidance and support to ensure compliance with regulatory requirements and organizational policies. The role involves evaluating audit processes, identifying areas for improvement, and implementing strategies to enhance the overall quality and effectiveness of internal audit activities.

PRIMARY RESPONSIBILITIES:

• Develop and implement a comprehensive quality assurance and improvement program for the internal audit function;
• Conduct periodic assessments of internal audit processes, methodologies, and documentation to ensure compliance with IPPF standards and regulatory requirements;
• Develop action plans to remediate non-conformance noted from the periodic assessments of internal audit activities;
• Review audit workpapers, reports, and findings to assess the quality, accuracy, and relevance of audit work;
• Provide feedback and recommendations to internal audit teams on areas for improvement and best practices;
• Collaborate with the Group Chief Internal Auditor (GCIA) and the internal audit Technical Managers to develop and implement training programs to enhance the skills and competencies of audit staff;
• Stay abreast of emerging trends, developments, and regulatory changes in the field of internal auditing and insurance and investments to ensure the quality assurance program remains current and effective;
• Monitor key performance indicators and metrics to track the effectiveness and efficiency of internal audit activities;
• Lead or participate in special projects and initiatives aimed at improving the overall governance, risk management, and control environment of the organization;
• Prepare reports for senior management and the audit committee on the results of quality assurance reviews, including recommendations for improvement; and
• Any other duties as assigned by the GCIA from time to time.

Academic and Professional Requirements

Education 

•  Bachelor’s degree in Finance, Accounting, Actuarial Science, Statistics, or any business-related degree with strong quantitative focus

Professional Qualification

• CPA (K) or Chartered Accountant Certified Internal Auditor (CIA)
• Good understanding of guidelines and standards as prescribed in IIA-IPPF
• Good working knowledge of Computer Assisted Audit Techniques (CAATs) and data analytics tools.

Experience Required:

• 8 years Relevant experience