Coronation Insurance is a leading West African full line insurance company offering a diverse range of products and services covering life, general and special risk businesses. Coronation Insurance is licensed to underwrite all classes of insurance, such as fire and special perils, goods-in-transit, all risk insurance and life insurance for both Individuals and Corporate entities.
We are recruiting to fill the position below:
Job Title: Head, Compliance and Internal Control
Location: Lagos
Employment Type: Full Time
Responsibilities
Develop compliance controls to mitigate compliance risk exposure of organization
Review control processes, risk assessments to identify risk areas and mitigations and control design weaknesses and drive the implementation of recommendations for remediating those weaknesses.
Support the formulation of the organization’s compliance programs and compliance strategies to incorporate relevant legislative and regulatory requirements and adapt to changing regulatory environment
Develop detailed operational plans and procedures for compliance programs
Support the development of the company's controls testing approach and teaches others about this approach to build their knowledge and capability.
Partner with business stakeholders to develop and help implement solutions to complex controls issues in an efficient manner while also maintaining independence
Advise on best practices and foresees the impact of changes in regulations, policies and procedures.
Evaluate interdependencies between risks, uncertainties and opportunities, critical failure points and resource implications
Establish compliance monitoring and surveillance strategies and objectives for the organization
Evaluate root causes and potential organizational impact or risks of non-compliance and/or areas of high potential for compliance breaches
Report recommendations for improvements based on systematic analysis of information at agreed intervals.
Promote relationships with internal and external assurance providers
Provide advice and opinions on optimal IT controls for new applications
Diligently monitor standard general IT controls, such as proper security management segregation of duties, adequate documents and records and access controls, and independence checks.
Create and maintain effective relationships with a wide range of internal and external stakeholders to drive compliance.
Discover and teach others about best practices in compliance management and stay abreast of industry, regulatory and market trends.
Engage with regulators, external parties, board, senior management, and other key stakeholders to facilitate decision-making on regulatory compliance and/or legal issues
Education and Work Experience
Bachelor’s Degree in Accounting or related discipline
Must possess a professional accounting qualification (e.g. ACA, ACCA etc.) and membership of one or more relevant professional bodies
Minimum of 10 years post qualification experience in Compliance and Internal Control preferably in the financial services industry with at least 4 years leading a team
Demonstrated knowledge in internal controls, risk management, audit, ethics and fraud awareness
Required Skills and Competencies:
Sound knowledge of the various types of controls and how they work together to form a strong internal control environment, including understanding relevant controls frameworks used by the company.
Ability to articulate requirements and drive the implementation of a strong internal control environment
Demonstrate detailed knowledge of the processes for developing internal control frameworks in simple and complex situations.
Demonstrate an understanding of the interdependencies of the organization’s systems, processes and business strategies
Demonstrate professional judgement to determine appropriate course of action for complex legal and/or compliance situations
In-depth knowledge of the industry’s standards and regulations
Excellent knowledge of reporting procedures and record keeping
Attention to detail and a well-organized approach to work
Time management and stakeholder management skills
Strong research skills
Application Closing Date
Not Specified
Method of Application
Interested and qualified candidates should send their Resume and Credentials to:[email protected]using the Job Title as the subject of the mail.