The role works with the Team Lead, Branch and Non-Branches Audit Unit to position Internal audit as the third line of defence providing assurance services to both internal and external clients as the need arises.
Provide support to the team to add value, improve Leadway's operations and help Leadway accomplish its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
These objectives will be achieved through effective:
- Monthly review of Management Accounts.
- Quarterly internal audit returns to NAICOM.
- Review of branch business performance and operational excellence.
- Review of subsidiaries' operations. (Processes and Financials)
- Compliance Audit.
- Process Review.
- Special Audit and Investigation.
- Third-party confirmation
- Review of LAC process.
Key Accountabilities (Duties and Responsibilities) Perspective % Weight Output
- Provide assurance to management that the management accounts are accurate, complete, and presented in accordance with the applicable IFRS standards.
- Review investment activities and reported figures and ensure consistency with regulatory requirements.
- Ensure transactions are accurate, reasonableness, properly recognized, and complete.
Internal Business Processes 55%
- Provide assurance to management on the efficiency and effectiveness of all aspects of the company processes, adequacy of control, and compliance with relevant regulations.
- Ensure that the Company's activities align with the established policies and procedures and the main objectives of its incorporation.
- Provide assurance to management that the subsidiaries' operations are in accordance with relevant policies and procedures and that transactions are accurate, complete, recognized, and presented in the FS in accordance with relevant standards.
- To ensure work done is appropriately and completely documented.
- To ensure the resolution of identified exceptions within the agreed timeframe.
- Prepare regular Internal Audit reports to management and the board on the internal audit review of process, control, and governance review across the organization.
- To provide assurance to concerned third parties on the authenticity of documents issued by Leadway to its customers.
- Have a knowledge-sharing culture that encourages the IA team to work, collaborate, and also execute a training session where the IA team is educated and shares knowledge.
- Create career maps with appropriate training programs that ensure enhance capacity with relevant skills and knowledge within and outside the organization.
Job Dimensions Reporting Relationships: jobs that report to this position directly and indirectly
Stakeholder Management: key stakeholders that the position holder will need to liaise/work with to be successful in this role.
- Management team.
- Various functional heads within the business divisions.
- Employees across all cadres.
- Branch Business Heads.
- Associate & Subsidiary companies
- Regulator (NAICOM, NFIU, and EFCC)
- Third Parties (e.g. customers, brokers)
Decision-Making Authority /Mandates/Constraints: the decisions the position holder is empowered to make
- The role holder has input over the development and preparation of IA work plan.
- The role holder has responsibility for the execution of IA work plan.
- Also, the role holder provides support to actualize IA monthly knowledge-sharing session.
Work cycle and impact: time horizon and nature of impact (Planning)
This role has a work cycle and impact grouping:
- Work cycle: Annual Audit engagements, this drives tactical execution of the scheduled tasks in the IA work plan to meet department objectives.
- Impact: Provides assurance to the management and board on Risk, Governance, and control.
- Bachelor's Degree or equivalent from a recognized University (Business Related preferred)
- Professional Qualification (ICAN, ACCA) is a added advantage
- Other relevant professional certification such as CIIN, CFE, CISA will be an added advantage
Desired work experience and skills:
- 1-3+ years' work experience and at least 1 years must be in internal audit or control roles.
- Insurance business experience is most preferred.
- Data analysis and Investigation skills