Creative Financial Staffing is working with an organization in the reinsurance industry that is looking to fill an opening for an Internal Auditor. The company was established in 2007 and is a successful consolidator of businesses and portfolios in run-off within the non-life insurance and reinsurance sector. Total assets are in excess of $5b and expects to grow rapidly over the next few years. They have offices in Bermuda, NY, CT, CO, CA, Ireland and Switzerland.
The Internal Audit function is currently supported by a combination of dedicated internal audit staff, the use of Guest Auditors from within the organization as well as co-sourcing support from one of the global professional services firms. To further support the current growth plans, the organization is now looking to increase the pool of dedicated internal audit resources, and we are therefore looking to hire an internationally qualified (internal) auditor with specialist skills from at least one of our core business areas as well as extensive experience with internal control (SOX and COSO2013) implementation and assessment.
Internal Audit is a group function and the Internal Auditor is expected to deliver assurance related work across the entire Group.
Key responsibilities include:
- Supporting the Head of Internal Audit in developing and updating the risk-based audit plan for the group;
- Conduct internal audits and/or other assurance activities at the underlying subsidiaries;
- Coordinate internal audit work with other resources from within the group or with the co-source partner;
- Review processes and controls to identify potential areas of risk and opportunities for operational improvements, including those areas related to safeguarding of assets, reliability of financial and management reporting, compliance with laws and regulations and effectiveness and efficiency of operations;
- Prepare “client ready” reports on the results of internal audits, including agreed management action plans;
- Facilitate the introduction of standardized processes and controls (and Internal Control System documentation) throughout the group, where feasible;
- Perform follow-up work ensuring management progress actions within the agreed time scales;
- Perform ad hoc investigations and reviews at the request of management and/or the Audit Committee;
- Stay current with changes in the industry and the regulatory frameworks and analyse impact of those changes on the business;
- Facilitate and drive improvement in the Group’s internal control framework, including a framework for testing those internal controls; and
- Perform other duties/participate in other group projects as assigned.
- Chartered Accountant, CIA, CISA, CPA, ACCA or other equivalent and internationally recognized accounting/auditing qualification;
- A minimum of five years of post-qualified, non-life (re-)insurance audit experience. Additional business experience from claims, reserving, capital modelling, M&A, risk management, investment management, business integration or the IT area within the industry a great plus;
- Advanced computer skills on MS Office;
- Thorough understanding of the principles and application of good corporate governance, risk-based auditing (in line with IIA Standards and related PPF) and control processes and procedures;
- Thorough understanding of the principles and application of the COSO2013 Internal Control Framework and SOX/Model Audit Rule requirements for reporting on the effectiveness of internal controls;
- Ability to compile both summary and detailed reports;
- Strong communication, presentational, organizational and analytical skills;
- Attention to detail and ability to prioritize and manage a range of tasks along with the ability to work independently as well as part of a team and to be a “self-starter”;
- Fluent in English (verbal and written). Other language, a plus.
- Travel requirements: 4-6 times per year. Predominantly US travel however international travel may occasionally be required.