Internal Audit Manager

Salary: £27,600 – £30,000 per year

JOB TITLE: Internal Audit Manager

REPORTING TO: Head of Internal Audit

LOCATION: London

THE ROLE:

To support the Head of Internal Audit in the build and maintenance of an audit universe, a risk-based audit plan and the delivery of audit assignments (using a Risk Based Internal Audit (RBIA) approach). The role will focus on the independent evaluation and appraisal of the internal controls over the key business processes. In addition influence to create a culture of risk awareness and manage controls across the business. The role will be primarily focussed (but not explicitly) on the audit of the syndicate.

To support the HIA to conform to the global standard of ways of working for internal auditors, the International Professional Practice Framework (IPPF), developed by the Institute of Internal Auditors (Global IIA), as well as with the UK Financial Services (FS) Code.

Working relationships with management and staff in other departments/sections and contacts with external bodies such as the FCA, PRA, Lloyd’s and external auditors. Internal Audit experience of multiple products in the Lloyd’s market, e.g. Property, Specialty (Cyber & Environmental); Political Risk & Crisis Management; Terror, War & Political Violence), Marine (Cargo) & Energy, Professional Lines, and Reinsurance.

KEY RESPONSIBILITIES:

Build and maintain an audit universe and audit plan with focus on key risks.

Proactive check, challenge and / advice on major initiatives and projects.

Apply a strategic approach to auditing whilst focussed on deliverables.

Apply the IPPF, IA Code of Ethics and Financial Services Code.

Clear ownership of audit assignments with minimal inputs from HOIA.

Perform risk-based audit assignments (including group themed reviews, Solvency ll and internal model validation audits).

Use CAATs assisted techniques for data analytics at various stages in the audit cycle to automate and improve the efficiencies.

Gain understanding of control processes which are in place.

Carry out sufficient testing, including detailed analysis/evaluation as appropriate to ensure control processes are effective.

Develop recommendations that are practical and effective within reasonable cost/benefit criteria to strengthen the control environment.

Prepare audit reports of work done with findings, root causes and recommendations.

Follow up on the status of implementation of agreed recommendations.

Where necessary, work with business areas to provide innovative solutions that add business value, protect corporate assets and contribute to the Group’s profitability.

Manage stakeholders effectively at all levels (team and client) during and outside of audits.

Assist in the development of the audit department to meet the needs of the rapidly growing firm.

Raise the profile of the audit function.

Embody and amplify the firm’s values in all aspects of day to day activity ensuring that all interactions and engagements are carried out with the highest ethical and professional standards and that all work is accomplished with quality and in accordance with firm values

Carry out other reasonable tasks as required by line management

The above duties and responsibilities are not an exhaustive list and you may be required to undertake any other reasonable duties compatible with your experience and competencies. This description may be varied from time to time to reflect changing business requirements.

KEY DESIRABLE ATTRIBUTES:

Strong Internal Audit experience gained in a Lloyds syndicate environment).

Strong experience in a range of classes underwritten in the Lloyd’s market.

Qualified Auditor and /Accountant (IIA, ACA, ACCA or CIMA) with post qualification experience.

Educated to degree level (or equivalent).

Ability to think strategically whilst keeping focus on task delivery.

Proactive and capable of independent thought.

Able to manage multiple and / complex audits.

A team player.

Ability to develop and maintain effective working relationships across the business.

Good communicator with ability to challenge and influence.

Good and practised in writing reports for use by senior management.

Planning, organisation skills with ability to deliver to tight deadlines.

Able to be entrusted with confidential data.

Technically sound with a good understanding of control concepts.

Good analytical skills and high attention to detail, readily identify process and control gaps.

Good experience of CAATS audit techniques.

Strong knowledge of MS Office: Excel, Word and PowerPoint.