Head, Internal Audit at ARM Life Plc

ARM Life is the Insurance subsidiary of Asset & Resource Management Company Ltd (ARM). Its parent company, ARM is one of the largest non-bank financial services firms in Nigeria with a focus on asset management. Established in 1994, ARM started operations as a traditional asset management company specialising in the management of quoted equities and fixed income securities.

We are recruiting to fill the vacant position below:

Job Title: Head Internal Audit, Life

Location: Nigeria
Job Type: Full-Time

Job Summary

• The Officer will be responsible for developing and delivering the Company’s internal audit strategy and plan and ensure compliance with established policies, procedures and regulatory requirements throughout the company.
• The Officer will be expected to foster a control conscious environment within the Company by providing reliable, valued and timely assurance on corporate governance, risks and controls whilst enhancing the overall control culture.

Principal Duties and Responsibilities

• Plan and supervise the execution of the Internal Audit Unit’s audit activities including the preparation and execution of an Internal Audit plan, scheduling and assigning work and estimating resource needs.
• Evaluate and examine policies, procedures and systems in place across the Company to ensure that assets are protected
• Evaluate the reliability and integrity of information and accounting records and ensure effective and efficient use of resources across the Company
• Review the compliance of business units with policies, procedures and regulatory requirements.
• Plan individual audit assignments and ensure they are completed in an effective and efficient manner and within specified timescales.
• Devise internal audit programmes and comprehensive tests to cover identified auditable areas and ensure adequate controls are in place to mitigate identified risk whilst carrying out audit reviews.
• Assist management and staff in identifying controls which mitigate risks within their business areas and ensure that adequate processes and controls exist.
• Report results and make recommendations to management where control weaknesses are identified in policy, processes or systems.
• Ensure the maintenance of evidence and well-structured documentation of work which fully supports work carried out and conclusions reached.
• Supervise the follow up on the progress of implementation of recommendations and directions to Senior Management.
• Maintain up to date knowledge specialist business knowledge for departmental benefit.
• Encourage and participate in any process or internal control improvement initiatives.
• Collate periodic reports on results of audit reviews conducted and provide to the MD of ARM Life and the Group Head, Risk Management & Internal Audit.
• Provide Management and the Board Audit Committee with a quarterly reports on the key weaknesses in the Company’s Internal Control Environment and recommendations for improvement.
• Along with the Internal Control Unit, participate in Risk & Control Self-Assessment Workshops and provide objective assessment of key controls.
• Carry out continuous review and development of Internal Control policies ensuring continued relevance to the Company’s operating environment.
• Where control deficiencies exist, propose risk mitigation and remediation plans, and communicate the remediation plan with the responsible process owners.
• Liaise with Process Owners and Business Managers to ensure the timely implementation of remedial actions to address identified exceptions.
• Escalate instances of persistent control issues to Senior Management.
• Perform special investigations when necessary to safeguard firm assets (e.g., fraud).
• Implement a methodology for consistent identification, monitoring and reporting of ‘red flag’ areas within the firm’s operations.
• Ensure the reporting of identified operational risk events via the OpRisk Manager by ICOs.
• Ensure compliance with existing policies and procedures, identifying & proposing modifications as needed.
• Provide training to Employees on appropriate audit and control activities
• Provide oversight of monitoring activities performed by the auditors.
• Institute efficient staff deployment strategies that aligns staff quality with the risk rating of the units within the scope of the Internal Audit Unit’s audit activities.
• Ensure appropriate training, orientation, and development of auditors.
• Conduct any review or task requested by Management.

Minimum Qualifications

• Bachelor's degree in Accounting or Finance related discipline
• ACA qualification or its equivalent
• 8 - 12 years of accounting or audit experience
• A previous supervisory role in an audit or control function

Other Requirements:

• Knowledge of the local and global financial service industry, including regulations, legislations, and operating environment.
• Sound knowledge of the life insurance industry and key business processes. Knowledge of financial market operations.
• Understanding of non-bank financial service operations, policies, and procedures.
• Good financial accounting and reporting skills.
• Audit, fraud assessment and internal control - investigation & review skills.
• Anti-Money Laundering skills.
• Experience with automated financial systems, including a general ledger and financial reporting software.
• Good knowledge of MS Excel as an analytical tool and other MS Office Applications, including macro driven processes.
• Assertive, and possesses ability to inspire and drive team performance.
• Team player
• Good communication skills (oral & written).
• Problem solving and analytical abilities.
• Integrity and good decision making ability.
• Exceptional attention to detail.
• The pursuit to constantly improve current processes and procedures.
• Good interpersonal, presentation and facilitation skills.
• Self motivated with a strong drive, and commitment to achieving agreed objectives.
• Ability to work under tight deadlines while performing multiple detail-oriented tasks.
• Ability to coach and groom team members.

Application Closing Date
28th October, 2017.

How to Apply
Interested and qualified candidates should send their Applications to: [email protected]  Kindly specify “Head, Internal Audit” as the subject of your application.