Director of Internal Audit

The Covéa Insurance Internal Audit Function forms the 3rd line in the UK Group’s control infrastructure. Adopting the risk assessment and reporting methodology of Covéa Group Internal Audit, the team delivers high quality, insightful assurance reviews of the UK Group and helps drive operational improvements.

We are looking for someone with internal / external audit experience within the UK Property & Casualty insurance sector, gained with a large public accounting firm or within an Internal Audit department. Experience in performing an 'Approved Person' or 'Controlled Function' role is a requirement as you will be expected to pass the FCA Fitness and Propriety tests. Expertise in respect of IIA Standards and FS Code is essential as is a strong technical background, specifically in Property & Casualty insurance.

What will I be doing?  

Audit Planning

• Identify proactively and systematically, relevant changes in the market, the regulatory environment, the business strategy and evaluate their impact on audit risks
• Conduct risk assessment based on internal and external information
• Prepare the Internal Audit Plan for approval by Group Internal Audit and the Audit Committee, based upon the annual risk assessment and audit universe

Audit Plan Execution, Recommendations, Follow-up, and Reporting

• Take overall responsibility for delivery of high quality, commercially focused audits and advisory reviews that fulfil the audit objectives, whilst managing stakeholder expectations
• Execute audit assignments on a timely basis (scoping memo; fieldwork including interviews, documentation analysis, testing; audit report)
• Ensure follow-up of internal audit recommendations
• Deliver appropriate and timely reporting to Executive Management, local Audit Committee and Group Internal Audit

Internal Audit Function Monitoring

• Manage the Internal Audit team, including coaching and development of staff
• Ensure appropriate recording of underlying documentation of audit reviews and evidence of audit recommendations follow-up
• Monitor the key performance indicators established by Group Internal Audit and the Director of Internal Audit
• Monitor external internal audit co-sourced service providers to professional standards on an ad hoc basis
• Build up and maintain relationships with stakeholders

What would we like to see in you?

• Successful internal/external audit experience of the UK Property & Casualty insurance sector, gained with large public accounting firm or with Internal Audit department of carrier
• Experience in performing an “Approved Person”/ “Controlled Function” role; able to pass the FCA “Fit and Proper” tests
• Expertise in respect of IIA Standards and FS Code
• Strong technical background (specifically in Property & Casualty insurance), pragmatism in auditing (to issue findings and recommendations) and strong ethical standards are fundamental to success
• Strong academic background: 2:1 degree in economics, business administration or similar
• Professional qualification required (e.g. ACA, ACCA)
• Auditing certifications (e.g. CIA, CMIIA, CRMA, CISA) will be an advantage
• Strong communication skills (oral and written, including formal report writing) and ability to interact with stakeholders at all levels
• Commercial mindset and pragmatic attitude
• Collaborative, open-minded approach to building relationships and producing relevant, practicable audit conclusions and recommendations
• Critical thinking skills and ability to work proactively with the business
• Resilience, tenacity, and adaptability to a fast-changing environment
• Ability to foster an IA culture and environment focused on high performance and personal development

Salary:

Working hours: