Unit Head, Internal Audit

1 month ago


Lagos, Nigeria Mutual Benefit Assurance Full time

Job Responsibilities

  • Execute financial, operational or compliance audits using a risk-based internal audit program
  • 100% execution of approved annual audit plan. Ensure full compliance with regulatory requirement and avoid regulatory penalties
  • Perform preliminary planning and establishes direction for audits, coordination of team members, manage audit exercises to quality outcomes, while meeting established time budget.
  • Perform audit work, including planning, working papers documentation, finding, and associated reports; verifies the accuracy of financial records as they pertain to clients’ premium and Company’s assets, liabilities, receipts, expenditures, and related transactions.
  • Verifications of claims processes to ensure accuracy, adherence to policies, and regulatory compliance. Identify discrepancies, potential fraud, and opportunities for process improvement.
  • Conduct audits and verifications of technical bills, including premium calculations, claim settlements, and related financial transactions. Ensure accuracy, adherence to policies, and compliance with regulatory guidelines.
  • Identify control weaknesses and provide recommendations for improvement.
  • Prepare monthly inflow and outflow reports for the Managing Director/CEO
  • Compile financial data, analyze trends, and provide insights on financial performance, ensure accuracy, completeness, and timely submission of the reports.
  • Collaborate with the Reinsurance department to ensure proper documentation and adherence to treaty terms and access compliance with contractual agreements and regulatory requirements
  • Effectively prepare summaries of findings, audit reports and communicate audit findings and recommendations to appropriate auditee levels.

Requirements

  • First Degree or its equivalent in disciplines such as Accounting, Banking & Finance, or a related discipline with a minimum of 5 - 7 years of relevant experience in Insurance.
  • Familiarity with regulatory bodies such as NIA, SEC, CBN, PenCom, FRCN, and Tax Authorities.
  • Possession of a relevant Professional Certification CIA, ACA, ACCA, CISA is required.


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