At a Glance
- Tasks: Lead internal audits and develop a strategic audit plan for a global insurance group.
- Company: Join a leading global insurer with a strong commitment to risk management.
- Benefits: Competitive salary, professional development, and opportunities for career advancement.
- Other info: Dynamic role with opportunities to lead and innovate in a collaborative environment.
- Why this job: Make a significant impact on the company's risk landscape and operational efficiency.
- Qualifications: CCAB qualified auditor with 7+ years of internal auditing experience.
The predicted salary is between 90000 - 110000 £ per year.
Woodland Partners are delighted to be working with this global Insurance group in the search for their new Head of Internal Audit. Reporting into the Group Head of Internal Audit and CEO (UK), this role will use a risk-based methodology to develop a three-year rolling UK audit plan based on the full spectrum of business risks, including concerns and issues raised by the Boards, committees, management and regulators.
Specific responsibilities will include:
- Discharge the role of SMF5 in the UK in line with regulatory expectations.
- Using a risk-based methodology, develop a three-year rolling UK audit plan based on the full spectrum of business risks.
- Review and update the audit universe and plan to reflect the Company’s evolving risk landscape and needs.
- Maintain professional staff with sufficient skills, knowledge, and experience necessary to achieve the requirements set out in the Internal Audit charter.
- Be responsible for the delivery of the annual UK audit plan.
- Review processes and controls to identify and assess potential areas of risk, including safeguarding of assets, reliability of financial and management reporting, compliance with laws and regulations, and effectiveness and efficiency of operations.
- Discuss findings of internal audit reviews with management to support them in developing appropriate solutions to issues arising.
- Report the results of internal audit reviews, including management proposed action plans, to the Audit Committee, Chief Executive Officer and management.
- Perform follow-up work ensuring management effectively progresses actions within the agreed time scales.
- Coordinate internal audit work with other resources from within the group or with co-source partners.
- Lead and/or contribute to shared group function audits.
- Conduct internal audits and other assurance activities of the UK Group and other subsidiaries, including ad hoc investigations and reviews at the request of management and/or the Audit Committee.
- Support the Group Head of Internal Audit in drafting Board, Committee, Exco presentations/reports.
- Identify and facilitate opportunities for improvement of effectiveness and efficiency of operations, processes and controls as part of the internal audit work.
- Provide counsel for improving controls, processes and procedures, performance and risk management.
- Stay current with changes in the industry and the regulatory frameworks and analyse the impact of those changes on the business.
- Oversee and manage any internal audit staff, providing guidance, direction, and support to ensure staff meet their objectives.
- Comply with IIA Standards, compliance policies, procedures and processes, attend and support compliance training.
Candidate Profile, Qualifications and Experience:
- CCAB Qualified Auditor (internal Audit, financial audit or similar internationally recognised qualification).
- At least 7 years post qualification internal auditing experience, some with non-life insurance, life reinsurance and/or investment management.
- Certification relating to or experience of claims management, investment management, risk management, compliance and/or business integration within the life or non-life (re)insurance industry is desired.
- Capability to work independently with minimal supervision on defined audit projects.
- Experience in drafting an audit risk and control matrix as the basis of an audit program from a blank template.
Head of Internal Audit - Global Insurer employer: Woodland Partners
Join a dynamic and rapidly expanding insurer that values innovation and growth, offering a unique opportunity for the Insurance Financial Controller role. With a strong emphasis on employee development, you will benefit from a collaborative work culture, competitive equity participation, and the chance to play a pivotal role in shaping financial strategies across multiple entities. This position not only promises meaningful work but also provides a clear path to CFO, making it an excellent choice for ambitious professionals seeking rewarding careers.
StudySmarter Expert Advice🤫
We think this is how you could land Head of Internal Audit - Global Insurer
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Woodland Partners). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Woodland Partners. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Head of Internal Audit - Global Insurer
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Woodland Partners.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Woodland Partners. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Woodland Partners
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Woodland Partners to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Woodland Partners, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Woodland Partners's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
