Chief Internal Auditor

A highly reputable client of ours specialised in the Insurance sector is looking to onboard a Chief Internal Auditor to join their team of professionals. The designated person will be mainly responsible for the Internal Audit Function of the Company.

Duties:

• Conduct in-depth audits of outsourced functions and delegated authorities, ensuring effective oversight of MGAs and compliance with relevant outsourcing requirements
• Design and implement a comprehensive, risk-based Internal Audit Plan that includes regular audits of Managing General Agents, and an assessment of the System of Governance, and the internal control framework ensuring compliance with Solvency II requirements.
• Carry out root case analyses on audit findings and oversee timely implementation of agreed corrective actions accordingly.
• Develop and maintain the quality assurance and improvement program of the Internal Audit Function.
• Provide the Board and Audit Committee with independent assurance and actionable insights into the adequacy and effectiveness of the internal control environment.
• Provide independent advice on new initiatives, emerging risks, and internal policies to enhance governance, risk management, and compliance structures as required.

Requirements

• Ability to evaluate the technical details of insurance proposals and pricing
• Must have excellent verbal and written communication skills in English and Maltese
• A minimum of seven (7) years of experience in internal auditing, ideally but not necessarily, within the insurance industry, with a strong understanding of Solvency II, IFRS17, and ORSA
• Familiarity with enterprise risk management, actuarial methodologies, reinsurance frameworks, and IT audit processes is considered an asset

Education and Experience

• Must be a Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or be in possession of an equivalent professional qualification.
• A Bachelor’s or Master’s Degree in accounting, finance, law, business administration, or a related field.

Job Reference: ZD326