FTC 12 months Head of Internal Audit

Provide independent, objective assurance and consulting activity designed to add value, improve the organisation's operations, and assist Flood Re in the achievement of its aim of becoming a worldwide centre of excellence for flood risk. The role is responsible for helping Flood Re accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Key Responsibilities

• Contribute to controls culture leadership: Take a leading role in ensuring that all stakeholders within Flood Re understand and value the importance of controls and proactively take action that demonstrate this commitment.
• Audit planning: Develop comprehensive long term and annual audit plans covering all key risk areas, regulatory requirements, key business areas while ensuring proportionality.
• Maintaining the Internal Audit process: Develop and apply internal audit processes, recommend changes to policies and procedures to ensure an efficient and effective audit function. This includes contributing to the establishment of a continuous improvement culture across the organisation.
• Managing co-source provider: Manage the relationship with our Internal Audit Co-source provider and ensure that the combination of internal and co-source resources are used proportionately.
• Carrying out audits: Carry out audits, track findings, provide commentary and insight to senior management and the function audited, to enable remedial action.
• Managing the remediation process: Ensure that all improvement actions arising out of audits are resolved timely.
• Liaising with the Audit Committee: Produce regular reports to Flood Re's Audit and Compliance Committee, to ensure that the interests of stakeholders are properly protected in relation to financial reporting and internal control.
• Contribution to Combined Assurance: Liaise with the Second Line of Defence (Risk and Compliance) to ensure that all risks are identified, assessed, and monitored in line with Flood Re risk appetite and policies.
• Managing stakeholders: Develop and manage relationships with Management, and with external regulators and auditors, to ensure the work of internal audit is relevant and respected.
• Demonstrate appropriate values: Maintain high regard to Flood Re values or equivalent, including clear understanding of Flood Re's purpose and ensuring that the control environment supports this purpose.

Knowledge and Experience

• Relevant professional qualification (e.g. Chartered Accountant, CPA, Chartered Insurer, Qualified Auditor, MBA).
• At least 5 years Internal Audit Leadership experience (Manager level and above).
• Extensive experience of corporate governance.
• Good understanding of IT in large complex environment.
• Familiarity with regulatory requirements in one or more relevant jurisdictions.
• Demonstrate expert business knowledge.
• Complete understanding of local insurance organisations and processes.
• Good understanding of Risk Management and Compliance and how these two combine with Internal Audit to form a strong assurance function.
• Excellent people and inter-personal skills with experience of interacting and building relationships with a wide variety of stakeholders.
• Objective approach to analysis and reporting.
• Ability to develop effective solutions in an efficient and pragmatic way.
• Ability to manage relationships at all levels while still valuing objectivity and independence.