Provide independent, objective assurance and consulting activity designed to add value, improve the organisation’s operations, and assist Flood Re in the achievement of its aim of becoming a worldwide centre of excellence for flood risk. The role is responsible for helping Flood Re accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
Key Responsibilities
* Contribute to controls culture leadership: Take a leading role in ensuring that all stakeholders within Flood Re understand and value the importance of controls and proactively take action that demonstrate this commitment.
* Audit planning: Develop comprehensive long term and annual audit plans covering all key risk areas, regulatory requirements, key business areas while ensuring proportionality.
* Maintaining the Internal Audit process: Develop and apply internal audit processes, recommend changes to policies and procedures to ensure an efficient and effective audit function. This includes contributing to the establishment of a continuous improvement culture across the organisation.
* Managing co-source provider: Manage the relationship with our Internal Audit Co-source provider and ensure that the combination of internal and co-source resources are used proportionately.
* Carrying out audits: Carry out audits, track findings, provide commentary and insight to senior management and the function audited, to enable remedial action.
* Managing the remediation process: Ensure that all improvement actions arising out of audits are resolved timely.
* Liaising with the Audit Committee: Produce regular reports to Flood Re’s Audit and Compliance Committee, to ensure that the interests of stakeholders are properly protected in relation to financial reporting and internal control.
* Contribution to Combined Assurance: Liaise with the Second Line of Defence (Risk and Compliance) to ensure that all risks are identified, assessed, and monitored in line with Flood Re risk appetite and policies.
* Managing stakeholders: Develop and manage relationships with Management, and with external regulators and auditors, to ensure the work of internal audit is relevant and respected.
* Demonstrate appropriate values: Maintain high regard to Flood Re values or equivalent, including clear understanding of Flood Re’s purpose and ensuring that the control environment supports this purpose.
Knowledge and Experience
* Relevant professional qualification (e.g. Chartered Accountant, CPA, Chartered Insurer, Qualified Auditor, MBA).
* At least 5 years Internal Audit Leadership experience (Manager level and above).
* Extensive experience of corporate governance.
* Good understanding of IT in large complex environment.
* Familiarity with regulatory requirements in one or more relevant jurisdictions.
* Demonstrate expert business knowledge.
* Complete understanding of local insurance organisations and processes.
* Good understanding of Risk Management and Compliance and how these two combine with Internal Audit to form a strong assurance function.
* Excellent people and inter-personal skills with experience of interacting and building relationships with a wide variety of stakeholders.
* Objective approach to analysis and reporting.
* Ability to develop effective solutions in an efficient and pragmatic way.
* Ability to manage relationships at all levels while still valuing objectivity and independence.
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