Summary
Date Posted: Friday, June 09 2023, Base Salary: Not Disclosed

JOB DETAILS:
Role Purpose
• The role holder will be responsible for formulating the Group Audit strategy, developing the Group Audit framework, and conducting the company’s internal audit plans approved by the Board Audit Committee. The role holder will also be responsible for providing strategic leadership and guidance and overseeing the Group Internal Audit Function across the Group.

Main Responsibilities
Strategy
• Develop the Group Audit strategy and create the group audit framework for internal audit and present the same to the Board's Audit Committee for approval.
• Submit the internal audit yearly work plan for approval by the Board's Audit Committee and regularly update the committee, the management of the subsidiary companies, and the group CEO on the execution of the plan.
• Carry out and manage the entire audit cycle and risk management and report objectively any non-adherence to relevant directives and legal requirements.
• Meet performance standards defined in the Personal Scorecard, Departmental and Corporate Strategy by developing and maintaining a thorough risk assessment process as the foundation for an effective internal audit assurance plan.
• Develop in liaison with Regional HR Manager appropriate training and upscaling programs for the internal audit team.

Operational
• Review final audit reports for all subsidiaries that received an "unsatisfactory" audit rating, paying close attention to the main causes, suggestions, and management comments before they are released to various stake holders.
• Ensure that thorough audit tests based on Standard audit programs are carried out on all business operations in accordance with the authorized annual audit plan and offer suggestions for enhancing effectiveness.
• Continuous examination of internal processes and procedures to identify weaknesses in internal control and giving suggestions to boost effectiveness.
• Prepare the quarterly Group Audit reports and present them to the Board Audit Committee.
• Establish audit standards, oversee adherence to audit quality requirements for audit processes implemented across group entities, and offer guidance as needed.
• Any other duties as may be assigned by the GCEO and/or Board Audit Committee.

Corporate Governance
• Provide assurance regarding the effectiveness of the Risk Management, Control, and Governance Processes.
• Foster a strong emphasis on high-quality assurance to guarantee adherence to the relevant regulatory and industry standards as well as policies, procedures, and processes.
• Put into practice a suitable approach for obtaining audit evidence based on the real field conditions experienced during the fieldwork. Discuss the business's findings frequently to improve reporting and execution.
• Define and assess the governance and risk management components of the service and provide solutions for risk management and mitigation that are appropriate for deployment.

Leadership & Culture
• Offer direction and support to the Internal Audit Managers to enable them to execute and deliver effectively on the approved Audit Plan.
• Create clear communication of audit deliverables' risks and controls to the Jubilee stakeholders, including senior management, authorities, and the Audit Committee.
• Take the leading role in the evaluation and documentation of current administrative, accounting, and internal control systems to determine their sufficiency and efficiency and offer suggestions for improvement to the Management.
• Manage internal audits in compliance with the company's audit methodology and international standards for the professional practice of internal audit.

Key Competencies
• Strong knowledge of internal audit principles, practices, and methodologies.
• Excellent understanding of insurance industry regulations, risks, and control frameworks.
• Analytical thinking and problem-solving abilities.
• Strong business acumen and ability to assess the impact of risks on organizational objectives.
• Excellent communication and presentation skills.
• Leadership and team management capabilities.
• Strong ethical standards and ability to maintain confidentiality.
• Ability to adapt to changing priorities and work effectively in a dynamic environment.

Qualifications
• Bachelor’s Degree in Accounting, Finance, Business Administration, or any other related course.
• Master’s Degree will be an added advantage.
• Professional certification such as Certified Public Accountant (CPA) and a member of ICPAK
• Certified Internal Auditor and Member of IIA or CISA.

Relevant Experience
• Minimum of 10 years of experience in audit or related roles within the insurance industry.
• Significant experience in the insurance industry and knowledge of insurance standards.
• Experience in leading and managing cross-functional projects or initiatives.
• Proven experience in a leadership or managerial role. Minimum of 4 years

Work Hours: 8

Experience in Months: 120

Level of Education: Bachelor Degree

Job application procedure
• If you are qualified and seeking an exciting new challenge, please apply via Recruitment@jubileekenya.com  quoting the Job Reference Number and Position by 16th June 2023. Only shortlisted candidates will be contacted.

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