Professional Internal Auditor at the 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: Professional Internal Auditor

Location: Lagos

Responsibilities

• Reporting directly to the Director (Internal Audit), s/he will actively contribute to conduct internal audit missions and preparing audit reports which give assurance to management on the effectiveness and adequacy of the internal controls, confirm compliance with management procedures/policies and ascertain the accuracy of accounting reports.

Duties and Job Duties
The duties of the Professional Internal Auditor comprise amongst others:

• Evaluate and examine policies, procedures and systems in place and ensure that these are documented.
• Determine and set benchmark standards with functional heads to attain operational efficiency.
• Ensure compliance with the Corporation’s internal control policies and procedures.
• Carry out reviews in all business units and central departments.
• Evaluate the reliability and integrity of information and ensure the efficient use of resources.
• Prepare audit report and make recommendations to management on control weaknesses identified, share best practices, and recommend improvements.
• Follow-up on the progress of implementation of recommendations and other proposals.
• Carry out oversight of the information systems and procedures.
• Carry out special investigations upon request by management.
• Conduct audits of IT systems, applications, and IT processes. Provide Management with guidance on IT risk management matters, particularly on application and infrastructure security.
• Assist in developing the IT Risk Assessment including identifying areas where internal audit should focus, and Management should consider additional investments.
• Attending to any other duty as may be assigned by his supervisor and/or the Corporation’s executive management from time to time.

Academic Qualifications
Applicants shall be holders of:

• First University Degree in Accounting or Finance or any relevant discipline plus Master’s Degree or its equivalent or any Post-Graduate Degree in related fields from a recognized university, plus 9 years post qualification and qualitative relevant work experience in the financial services sector, international finance institutions or audit firms (Big 4 experience preferred).

OR

• First University Degree in Accounting or Finance or any relevant discipline, from a recognized university plus full professional qualifications, plus 7 years post qualification and qualitative relevant work experience in the financial services sector, international finance institutions or audit firms (Big 4 experience preferred).

OR

• First University Degree in Accounting or Finance or any relevant discipline from a recognized university, plus 11 years post qualification and qualitative relevant work experience in the financial services sector, international finance institutions or audit firms (Big 4 experience preferred).

Main Competencies:

• Strong theoretical and practical knowledge of Audit in the re/insurance industry.
• Working knowledge in insurance and reinsurance.
• Working knowledge of the traditional and convention classes of re/insurance business.
• Detailed ICT technical skills and experience at both theoretical and practical level.
• Ability to carry out audit reviews with minimum supervision and deliver quality audit reports.
• Ability to apply various audit and investigation techniques.
• Capacity for high level communication with senior management and staff.
• Resilience in the face of pressure from Auditees during audit assignments.
• Proactivity and good initiatives geared towards minimizing wastage, leakage of revenues, material error, fraud, or system failures, etc.
• Ability to work well with all levels of management and across group operations.
• Strong team player and proven managerial skills/experience.
• Well-developed communication and interpersonal skills.
• Excellent analytical, planning and reporting skills.
• Capacity for synthesizing and reasoning.
• Unquestionable integrity and proven sense of responsibility.
• Ability to work under pressure and good time management with ability to timely deliver audit assignments.
• Excellent computer skills required in Microsoft Office suite (Word, Excel, PowerPoint, etc.).

Below are the additional considerations:

• Professional membership of internationally recognized associations will be an added value.
• Prior experience in IT Governance and/or IT Audit, internal audit, or external auditing firm (Big 4 experience preferred) will be an added value.
• Experience with IT Operations in Financial Services or re/insurance environment (highly desirable).
• Progressive achievement in one or more of the traditional IT disciplines: applications, operations, and/or infrastructure (highly desirable).

Additional Requirements

• Nationals of one of the 42 member States of Africa Re.
• Fluent in one of the two working languages (French or English) of the Corporation. However, a good knowledge of the second language shall be an added advantage.

Salary & Benefits
The successful candidates shall have the following benefits:

• Competitive Basic Salary.
• Variable Pay: Short Term (Annual Performance Bonus) and Long Term (Participation in the Employee Share Ownership Plan) Incentives.
• Joint contribution to the Provident Fund (7% of the basic salary paid by staff and 14% by the employer).
• Housing allowance.
• Transport allowance.
• Medical cover for staff and family.
• Home leave to country of origin each year that is paid by the employer for the family (if non-national).
• Children Education subsidy for each child up to 26 years (maximum 4 children)
• Duty Post Differential (Cost of Living Allowance), that may increase or decrease depending on the economic situation and result of salary surveys.

Application Closing Date
31st March, 2025.

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

Note

• Africa Re is an equal-opportunity employer and offers a good working environment commensurate with international organizations.
• The Corporation reserves the right to appoint at the advertised grade level or at any other level that may suit the profile, qualifications, and experience of the successful candidate.