Internal Audit Officer / Business Support at African Reinsurance Corporation (Africa Re)

The African Reinsurance Corporation (Africa Re) is the leading African reinsurance company with headquarters in Lagos (Nigeria). Africa Re has six regional offices: Casablanca (Morocco), Abidjan (Côte d'Ivoire), Nairobi (Kenya), Lagos (Nigeria), Cairo (Egypt) and Ebene (Mauritius). The Corporation equally has two subsidiaries: African Reinsurance Corporation South Africa Ltd in Johannesburg (South Africa), Africa Retakaful in Cairo (Egypt) and one Local Office in Addis Ababa (Ethiopia).

Africa Re has a broad-based shareholding comprising 41 African member States, the African Development Bank (AfDB), 114 African insurance and reinsurance companies and three non-regional shareholders, including leading global insurers and reinsurers. The Financial Strength and Credit Rating of Africa Re is A by A.M. Best and A – by Standard & Poor’s.

We are recruiting to fill the position below:

Job Title: Internal Audit Officer / Business Support

Location: Lagos

Job Description

• Reporting to the Director of Internal Audit, the successful candidate will support the Internal Audit team in conducting audits, preparing comprehensive audit reports, and ensuring the timely and accurate completion of all audit-related documentation.
• This role will assist the audit team in evaluating the effectiveness of internal controls, risk management practices, and governance processes, thereby contributing to the enhancement of the Corporation’s overall operational efficiency as mandated by the Audit Committee of the Board of Directors.
• This role also includes managing administrative tasks for the department, organizing and coordinating meetings, and handling ad hoc requests.

Responsibilities

• The incumbent will carry out the following functions:

Technical Duties

• Support in the review of all business units (regions, subsidiaries) and central departments.
• Participate in the assessment of process owners’ compliance with the Corporation’s policies and procedures.
• Support in the review of the adequacy of existing policies and procedures, identify gaps and recommend improvements based on best practices.
• Discuss audit findings and related action plans with the process owners.
• Assist in the preparation of audit reports to Executive Management and the Board of Directors.
• Follow-up with the process owners on the implementation of recommendations and agreed action plans.
• Support in carrying out special reviews/investigations upon request by management.
• Support the team in working with other internal and external assurance providers.
• Gaining a deep understanding of the Corporation and Contribute to the continued development of the audit function.
• Any other duties that may be assigned.

Administrative Duties

• Prepare minutes of meetings held in the department – weekly and ad hoc.
• Prepare minutes of entrance and exit meetings for all audit projects.
• Maintain virtual and physical records of the department.
• Liaise with staff and clients to provide administrative support on:
• Maintaining adequate records of the Internal Audit subscriptions.
• Ensuring annual and periodic invoices from all Internal Audit service providers are received on time and follow up with relevant stakeholders on processing and payment of invoices.
• Planning, organizing and managing events and meetings of the department.
• Any other duty that may be assigned by the DIA from time to time.

Requirements

• Bachelor’s Degree in accounting, business administration, insurance, or equivalent.
• Minimum of 3 Years of relevant work experience in internal audit/control in the insurance and/or reinsurance industry.
• Experience in an audit firm will be an added advantage.
• Additional professional qualifications/certifications in Audit and Accounting (CIA, CPA, ACCA, ICAN, ACA, etc.) and working knowledge in the French language will be an added advantage.
• Good theoretical and practical knowledge of the internal audit standards, insurance and reinsurance business.
• Good theoretical and practical knowledge of reinsurance technical accounting.
• Ability to carry out audit reviews with minimum supervision and deliver quality audit reports.
• Basic knowledge and understanding of reinsurance applications and Oracle ERP will be an added value.
• Confidentiality, unquestionable integrity and proven sense of responsibility.
• Knowledge of Microsoft Office (Word, Excel and PowerPoint), SharePoint, and Teams.
• Knowledge and practical experience on data analytics applications and audit software like TeamMate+ will be an advantage.
• Ability to work smartly with minimal supervision
• Ability to deliver within established timeframes.
• Ability to multitask and manage change.
• Excellent problem-solving skills (i.e., conceptual, and analytical thinking).
• Outstanding interpersonal and communication skills; ability to communicate effectively with technical and non-technical audiences.
• Good team player with proven managerial experience.
• Ability to establish and maintain effective working relationships in a multicultural, multi-ethnic environment.

Salary & Benefits

• The successful candidate shall have the following benefits:
• Competitive Basic Salary on the Corporation’s Support Staff Grade Level.
• Variable Pay (Annual Performance Bonus).
• Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the Employer).
• Children Education Subsidy for each child up to 26 years (maximum 4 children).
• Medical Cover for staff and family.
• Housing Allowance.

Application Closing Date
28th September, 2024.

How to Apply
Interested and qualified candidates should:
Click here to apply online