Unit Head, Internal Audit Job at Mutual Benefits Assurance Plc
Mutual Benefits Assurance Plc (MUTUAL) has evolved into a conglomerate consisting of value-adding companies with diverse interests in various sectors of the Nigerian economy through investments, strategic alliances, and partnerships. Today, MUTUAL is a leading brand in the Nigerian Insurance industry, with over 3,000 staff and marketing executives in its employment.
We are recruiting to fill the position below:
Job Position: Unit Head, Internal Audit
Job Location: Lagos
Job Responsibilities
- Execute financial, operational or compliance audits using a risk-based internal audit program
- 100% execution of approved annual audit plan. Ensure full compliance with regulatory requirement and avoid regulatory penalties
- Perform preliminary planning and establishes direction for audits, coordination of team members, manage audit exercises to quality outcomes, while meeting established time budget.
- Conduct audits and verifications of technical bills, including premium calculations, claim settlements, and related financial transactions. Ensure accuracy, adherence to policies, and compliance with regulatory guidelines.
- Identify control weaknesses and provide recommendations for improvement.
- Prepare monthly inflow and outflow reports for the Managing Director/CEO
- Perform audit work, including planning, working papers documentation, finding, and associated reports; verifies the accuracy of financial records as they pertain to clients’ premium and Company’s assets, liabilities, receipts, expenditures, and related transactions.
- Verifications of claims processes to ensure accuracy, adherence to policies, and regulatory compliance. Identify discrepancies, potential fraud, and opportunities for process improvement.
- Compile financial data, analyze trends, and provide insights on financial performance, ensure accuracy, completeness, and timely submission of the reports.
- Collaborate with the Reinsurance department to ensure proper documentation and adherence to treaty terms and access compliance with contractual agreements and regulatory requirements
- Effectively prepare summaries of findings, audit reports and communicate audit findings and recommendations to appropriate auditee levels.
Requirements
- First Degree (or its equivalent) in disciplines such as Accounting, Banking & Finance, or a related discipline with a minimum of 5 - 7 years of relevant experience in Insurance.
- Familiarity with regulatory bodies such as NIA, SEC, CBN, PenCom, FRCN, and Tax Authorities.
- Possession of a relevant Professional Certification (CIA, ACA, ACCA, CISA) is required.
Method of Application
Interested and qualified candidates should send their CV to: recruitment@mutualng.com using the Job Position as the subject of the mail.
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