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| Role Title: | Internal Audit Manager |
| Department: | Risk, Assurance & Governance |
| Reporting To: | Risk & Compliance Director |
| Last Updated: | April 2008 |
ROLE PURPOSE
To manage the Internal Audit function and assist the Risk & Compliance Director to:
- To manage and develop the internal audit function to provide assurance on the effectiveness of internal control regimes against the risks to achieving KGM’s business objectives.
- Support the Risk Management function in developing and assessing KGM operations ability to manage risk and reporting on the effectiveness of systems & controls.
- To provide a level of consultancy on critical issues and business improvements as part of an operational management forum.
KEY ACCOUNTABILITIES
Internal Audit (IA)
- Develop and operate the internal audit function in line with KGM Audit Charter approved by the Board.
- Propose an annual Risk-based Audit Programme based on the risk environment for Risk & Audit Committee.
- Review and develop the Internal Audit Process to provide assurance on the effectiveness of KGM’s internal controls, as part of the risk mitigation programme.
- Supervise, lead and coach the co-sourced Internal Audit Team and other relevant staff where applicable.
- Manage the audit team in line with the programme or business derived audit requests.
- Conduct and co-ordinate regular audits of internal controls across all business areas within the KGM Universe.
- Undertake investigations/consultancy and special projects as required, including attendance at working parties to give advice on risk and controls.
- Review and advise on the design and development of the audit database system to record and report on all audit findings and feedback into the risk management programme, working closely with the Risk Manager.
- Review all audit reports and management action plans.
- Perform ongoing monitoring of agreed actions to ensure they are completed to a satisfactory standard and one time, or escalated.
- Determine and evaluate internal audit resource needs, including external consultancy requirements.
Reporting & Communication
- Attend and contribute towards the monthly Risk Assurance & Governance Department Meeting, reporting by objective on current internal audit and consultancy activities.
- Independent Audit Reporting to the Chairman of the Risk & Audit Committee.
- Attend the two-monthly Operational Management Forum and provide input and consultancy on controls, control improvement and the creation of focused review and action groups on ‘burning platform’ issues.
- Attend and contribute towards the quarterly Risk & Audit Committee to present final internal audit reports and Management Action Plan status for review and possible escalation to Board.
- Liaise and co-ordinate the Audit Team on conducting audits for their business areas of the operation.
- Have access to the Non-executive Directors (including the independent Non-executive Director) as required.
SKILLS
- Proven experience in internal audit, particularly in regard to operational risk.
- Proven general insurance knowledge required to facilitate effective consultancy.
- Proven relevant consultancy experience.
- Strong awareness of operational processes within Insurance (key risks and controls).
- Comprehensive knowledge of the professional practices of internal audit, including some awareness of risk-based audit techniques.
- Good personal and team organisational and planning skills and good communication and influencing skills.
- Good team player with ability to lead a team.
- Sound knowledge of risk management, and operational management practices and some knowledge of financial management practices
- Qualified by experience and would be beneficial to have Professional qualifications and/or appropriate industry related qualifications such as IIA/CII/ACA/ACCA/IRM.
PERSONAL ATTRIBUTES
- An ability to apply knowledge to scenarios
- Effective interpersonal skills
- Critical thinking and analytical skills
- Effective verbal and written communication skills
- Full driving licence is preferred – potential to extend consultancy role to regional Insurance Group entities (including brokers)
- Team player/leader with the ability to work independently
- Ability to coach and support the learning of others
- Committed to personal development
If you are interested in applying for this role please send your CV and covering letter detailing your salary expectations to:
Nina Fenwick, Chartered MCIPD, HR Manager, KGM Underwriting Agencies Ltd, KGM House, George Lane, London, E18 1RZ or email nina.fenwick@kgminsurance.co.uk
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