Internal Audit Manager at CVPeople Tanzania

Internal Audit Manager at CVPeople Tanzania

CVPeople Tanzania | Full time

Internal Audit Manager

Dar es salaam, Tanzania | Posted on 09/23/2023

Job Purpose

Assess and evaluate the effectiveness of internal controls, risk management practices, and compliance with regulatory requirements.

Key Responsibilities

• Audit Planning: Collaborate with the team and management to develop annual audit plans based on risk assessments, regulatory requirements, and business priorities.
• Identify key areas to be audited and establish audit objectives and scope.
• Risk Assessment: Evaluate the effectiveness of the company’s risk management practices.
• Identify potential risks and assess the adequacy of controls in place to mitigate those risks.
• Provide recommendations for risk mitigation and improvement of controls.
• Internal Control Evaluation: Review and evaluate the adequacy and effectiveness of internal controls, including financial, operational, and compliance controls.
• Identify control weaknesses, gaps, or deficiencies and propose recommendations for improvement.
• Financial Auditing: Conduct financial audits to ensure accuracy, reliability, and compliance with accounting principles, policies, and regulatory requirements.
• Review financial statements, general ledger accounts, and supporting documentation. Identify financial irregularities, errors, or fraudulent activities.
• Operational Auditing: Assess the efficiency and effectiveness of operational processes within the insurance company.
• Review underwriting, claims, policy administration, and other operational functions. Identify process bottlenecks, inefficiencies, and opportunities for improvement.
• Compliance Auditing: Evaluate the company’s compliance with relevant laws, regulations, and industry standards.
• Ensure adherence to internal policies and procedures. Identify non-compliance issues and propose corrective actions.
• Reporting and Documentation: Prepare detailed audit reports highlighting findings, recommendations, and action plans.
• Present audit results to management and relevant stakeholders. Maintain comprehensive and accurate audit documentation.
• Follow-up and Monitoring: Track the implementation of audit recommendations and ensure appropriate action is taken.
• Monitor progress on remediation efforts and provide periodic updates to management on the status of corrective actions.
• Stakeholder Collaboration: Collaborate with various stakeholders, including management, department heads, and external auditors.
• Provide guidance and support on internal control matters. Build relationships and communicate effectively to drive audit initiatives.

Knowledge & Experience

• Bachelor’s degree in accounting, Finance, Business Administration, or a related field.
• Relevant professional certification such as Certified Internal Auditor (CIA), Certified Public Accountant (CPA), or similar.
• A minimum of 3 years of experience in internal auditing, preferably within the insurance industry.
• Strong knowledge of insurance operations, regulations, and accounting principles.
• Familiarity with risk management frameworks and internal control methodologies

General Skills

• Analytical thinking and problem-solving skills.
• Excellent attention to detail and the ability to work independently.
• Effective communication and interpersonal skills.
• Proficiency in using audit software, data analysis tools, and MS Office applications.
• Continuous Innovation, Adaptability and Problem-Solving skills.

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